Timothy Regan Sells 3,000 Shares of Dropbox, Inc. (NASDAQ:DBX) Stock

Dropbox, Inc. (NASDAQ:DBX) CFO Timothy Regan sold 3,000 shares of the stock in a transaction on Monday, April 15th. The stock was sold at an average price of $23.11, for a total value of $69,330.00. Following the sale, the chief financial officer now directly owns 594,995 shares of the company’s stock, valued at $13,750,334.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Timothy Regan also recently made the following trade(s):

• On Wednesday, March 27th, Timothy Regan sold 3,000 shares of Dropbox stock. The stock was sold at an average price of $24.36, for a total value of $73,080.00.
• On Friday, March 15th, Timothy Regan sold 3,000 shares of Dropbox stock. The stock was sold at an average price of $24.02, for a total value of $72,060.00.
• On Tuesday, January 30th, Timothy Regan sold 3,000 shares of Dropbox stock. The stock was sold at an average price of $32.50, for a total value of $97,500.00.

Dropbox Stock Down 0.2 %

Shares of DBX stock opened at $22.76 on Friday. Dropbox, Inc. has a fifty-two week low of $19.55 and a fifty-two week high of $33.43. The stock has a market cap of $7.83 billion, a P/E ratio of 17.24, a P/E/G ratio of 2.58 and a beta of 0.71. The business has a fifty day simple moving average of $24.93 and a 200-day simple moving average of $27.49.

Dropbox (NASDAQ:DBX) last announced its quarterly earnings results on Thursday, February 15th. The company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). Dropbox had a net margin of 18.13% and a negative return on equity of 120.82%. The firm had revenue of $635.00 million during the quarter, compared to analysts’ expectations of $630.77 million. On average, sell-side analysts anticipate that Dropbox, Inc. will post 1.14 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on DBX shares. Bank of America downgraded Dropbox from a “buy” rating to an “underperform” rating and decreased their price target for the stock from $34.00 to $28.00 in a report on Friday, February 16th. Citigroup reduced their target price on Dropbox from $31.00 to $27.00 and set a “neutral” rating for the company in a report on Friday, March 22nd. KeyCorp raised their target price on Dropbox from $32.00 to $37.00 and gave the company an “overweight” rating in a report on Friday, January 19th. The Goldman Sachs Group downgraded Dropbox from a “neutral” rating to a “sell” rating and reduced their target price for the company from $26.00 to $24.00 in a report on Friday, February 16th. Finally, JMP Securities downgraded Dropbox from an “outperform” rating to a “market perform” rating in a report on Friday, February 16th. Three analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $29.78.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Creative Planning increased its position in Dropbox by 0.8% during the 4th quarter. Creative Planning now owns 46,046 shares of the company’s stock worth $1,357,000 after purchasing an additional 352 shares in the last quarter. Stratos Wealth Partners LTD. increased its position in Dropbox by 1.8% during the 4th quarter. Stratos Wealth Partners LTD. now owns 23,086 shares of the company’s stock worth $681,000 after purchasing an additional 415 shares in the last quarter. iA Global Asset Management Inc. increased its position in Dropbox by 6.1% during the 3rd quarter. iA Global Asset Management Inc. now owns 7,207 shares of the company’s stock worth $196,000 after purchasing an additional 417 shares in the last quarter. Parallel Advisors LLC increased its position in Dropbox by 7.4% during the 4th quarter. Parallel Advisors LLC now owns 6,642 shares of the company’s stock worth $196,000 after purchasing an additional 459 shares in the last quarter. Finally, Cooper Financial Group increased its position in Dropbox by 3.1% during the 1st quarter. Cooper Financial Group now owns 15,581 shares of the company’s stock worth $379,000 after purchasing an additional 462 shares in the last quarter. Hedge funds and other institutional investors own 94.84% of the company’s stock.

Dropbox Company Profile

Dropbox, Inc provides a content collaboration platform worldwide. The company's platform allows individuals, families, teams, and organizations to collaborate and sign up for free through its website or app, as well as upgrade to a paid subscription plan for premium features. It serves customers in professional services, technology, media, education, industrial, consumer and retail, and financial services industries.