Timothy Regan Sells 2,500 Shares of Dropbox, Inc. (NASDAQ:DBX) Stock

Dropbox, Inc. (NASDAQ:DBX) CFO Timothy Regan sold 2,500 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $24.35, for a total value of $60,875.00. Following the transaction, the chief financial officer now directly owns 485,724 shares in the company, valued at approximately $11,827,379.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Monday, September 16th, Timothy Regan sold 400 shares of Dropbox stock. The shares were sold at an average price of $25.00, for a total value of $10,000.00.
• On Monday, July 15th, Timothy Regan sold 3,000 shares of Dropbox stock. The shares were sold at an average price of $22.76, for a total value of $68,280.00.
• On Monday, July 1st, Timothy Regan sold 13,000 shares of Dropbox stock. The stock was sold at an average price of $22.33, for a total transaction of $290,290.00.

Dropbox Price Performance

Shares of DBX traded down $0.25 during mid-day trading on Tuesday, hitting $24.63. 2,317,822 shares of the company’s stock were exchanged, compared to its average volume of 3,903,976. Dropbox, Inc. has a 52 week low of $20.68 and a 52 week high of $33.43. The company has a market cap of $8.13 billion, a PE ratio of 16.34, a P/E/G ratio of 1.51 and a beta of 0.61. The company has a 50-day simple moving average of $23.39 and a 200 day simple moving average of $23.21.

Dropbox (NASDAQ:DBX) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.52 by $0.08. Dropbox had a net margin of 23.06% and a negative return on equity of 161.78%. The firm had revenue of $634.50 million for the quarter, compared to analysts’ expectations of $630.10 million. During the same period in the previous year, the firm posted $0.28 EPS. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. On average, analysts anticipate that Dropbox, Inc. will post 1.31 earnings per share for the current year.

Analyst Ratings Changes

DBX has been the subject of several analyst reports. UBS Group decreased their price target on Dropbox from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Citigroup reduced their price target on shares of Dropbox from $26.00 to $25.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 26th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Dropbox has a consensus rating of “Hold” and a consensus target price of $28.67.

Institutional Investors Weigh In On Dropbox

Several large investors have recently made changes to their positions in the stock. Pacer Advisors Inc. increased its holdings in shares of Dropbox by 63.0% in the second quarter. Pacer Advisors Inc. now owns 7,455,407 shares of the company’s stock valued at $167,523,000 after purchasing an additional 2,881,981 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Dropbox by 63.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,536,412 shares of the company’s stock valued at $56,994,000 after acquiring an additional 986,942 shares during the period. AQR Capital Management LLC boosted its holdings in shares of Dropbox by 39.7% during the second quarter. AQR Capital Management LLC now owns 3,021,962 shares of the company’s stock worth $67,360,000 after acquiring an additional 859,233 shares during the period. Russell Investments Group Ltd. grew its position in shares of Dropbox by 68.2% in the first quarter. Russell Investments Group Ltd. now owns 1,949,274 shares of the company’s stock valued at $47,397,000 after purchasing an additional 790,191 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Dropbox during the fourth quarter worth approximately $19,361,000. Institutional investors and hedge funds 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.