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 business’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $23.60, for a total transaction of $70,800.00. Following the transaction, the chief financial officer now directly owns 591,995 shares in the company, valued at $13,971,082. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Monday, April 15th, Timothy Regan sold 3,000 shares of Dropbox stock. The shares were sold at an average price of $23.11, for a total transaction of $69,330.00.
• 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 shares were sold at an average price of $24.02, for a total value of $72,060.00.

Dropbox Stock Down 0.9 %

Shares of DBX opened at $23.37 on Friday. The stock’s 50-day moving average price is $23.76 and its 200 day moving average price is $27.15. The firm has a market capitalization of $8.04 billion, a price-to-earnings ratio of 17.70, a P/E/G ratio of 2.64 and a beta of 0.70. Dropbox, Inc. has a 12-month low of $19.55 and a 12-month high of $33.43.

Dropbox (NASDAQ:DBX) last announced its quarterly earnings results on Thursday, February 15th. The company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.01). The business had revenue of $635.00 million during the quarter, compared to the consensus estimate of $630.77 million. Dropbox had a net margin of 18.13% and a negative return on equity of 120.82%. Equities research analysts expect that Dropbox, Inc. will post 1.14 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC bought a new position in shares of Dropbox during the fourth quarter valued at $25,000. Contravisory Investment Management Inc. bought a new position in Dropbox during the 4th quarter valued at about $26,000. Sound Income Strategies LLC acquired a new position in Dropbox in the first quarter valued at about $28,000. Fifth Third Bancorp grew its stake in Dropbox by 424.2% during the third quarter. Fifth Third Bancorp now owns 1,085 shares of the company’s stock worth $30,000 after buying an additional 878 shares during the last quarter. Finally, Cary Street Partners Investment Advisory LLC increased its holdings in shares of Dropbox by 29,175.0% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 1,171 shares of the company’s stock worth $32,000 after buying an additional 1,167 shares in the last quarter. Institutional investors and hedge funds own 94.84% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on DBX shares. Citigroup reduced their price objective on shares of Dropbox from $31.00 to $27.00 and set a “neutral” rating for the company in a research note on Friday, March 22nd. Bank of America cut Dropbox from a “buy” rating to an “underperform” rating and reduced their price target for the stock from $34.00 to $28.00 in a research report on Friday, February 16th. JPMorgan Chase & Co. lowered Dropbox from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $33.00 to $30.00 in a report on Friday, February 16th. KeyCorp raised their price objective on Dropbox from $32.00 to $37.00 and gave the company an “overweight” rating in a research note on Friday, January 19th. Finally, JMP Securities cut Dropbox from an “outperform” rating to a “market perform” rating in a research report on Friday, February 16th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $29.78.

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.