Dropbox (NASDAQ:DBX) CFO Sells 1,500 Shares

Dropbox, Inc. (NASDAQ:DBX) CFO Timothy Regan sold 1,500 shares of the business’s stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $30.71, for a total transaction of $46,065.00. Following the sale, the chief financial officer directly owned 476,621 shares of the company’s stock, valued at $14,637,030.91. This represents a 0.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• On Wednesday, October 1st, Timothy Regan sold 5,000 shares of Dropbox stock. The shares were sold at an average price of $29.76, for a total value of $148,800.00.
• On Friday, August 15th, Timothy Regan sold 2,500 shares of Dropbox stock. The shares were sold at an average price of $27.95, for a total value of $69,875.00.
• On Tuesday, July 29th, Timothy Regan sold 2,500 shares of Dropbox stock. The stock was sold at an average price of $27.98, for a total value of $69,950.00.
• On Tuesday, July 15th, Timothy Regan sold 2,500 shares of Dropbox stock. The shares were sold at an average price of $26.83, for a total value of $67,075.00.

Dropbox Stock Performance

Shares of NASDAQ:DBX opened at $29.41 on Friday. The stock has a 50-day simple moving average of $29.10 and a 200-day simple moving average of $28.35. The stock has a market capitalization of $7.94 billion, a P/E ratio of 17.93, a PEG ratio of 3.89 and a beta of 0.67. Dropbox, Inc. has a 1 year low of $24.42 and a 1 year high of $33.33.

Dropbox (NASDAQ:DBX) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.08. Dropbox had a net margin of 19.17% and a negative return on equity of 61.31%. The firm had revenue of $625.70 million for the quarter, compared to analysts’ expectations of $618.60 million. During the same period in the previous year, the company posted $0.60 earnings per share. Dropbox’s revenue was down 1.4% compared to the same quarter last year. Analysts predict that Dropbox, Inc. will post 1.64 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on DBX shares. Wall Street Zen cut shares of Dropbox from a “buy” rating to a “hold” rating in a research report on Friday, September 5th. UBS Group lowered Dropbox from a “neutral” rating to a “sell” rating and lowered their target price for the company from $29.00 to $27.00 in a research note on Thursday, September 18th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Dropbox in a report on Saturday, September 27th. Three research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Dropbox has an average rating of “Reduce” and an average price target of $29.67.

Institutional Investors Weigh In On Dropbox

A number of hedge funds have recently added to or reduced their stakes in DBX. GAMMA Investing LLC raised its holdings in shares of Dropbox by 2,895.9% during the first quarter. GAMMA Investing LLC now owns 192,819 shares of the company’s stock valued at $5,150,000 after buying an additional 186,383 shares during the last quarter. Parallel Advisors LLC raised its stake in Dropbox by 5.6% during the 1st quarter. Parallel Advisors LLC now owns 7,411 shares of the company’s stock valued at $198,000 after acquiring an additional 395 shares in the last quarter. UMB Bank n.a. raised its stake in Dropbox by 115.0% during the 1st quarter. UMB Bank n.a. now owns 2,501 shares of the company’s stock valued at $67,000 after acquiring an additional 1,338 shares in the last quarter. Wedge Capital Management L L P NC boosted its position in Dropbox by 1,640.3% during the 1st quarter. Wedge Capital Management L L P NC now owns 2,141,026 shares of the company’s stock worth $57,187,000 after acquiring an additional 2,017,997 shares during the period. Finally, Farther Finance Advisors LLC grew its stake in shares of Dropbox by 4,160.7% in the first quarter. Farther Finance Advisors LLC now owns 7,371 shares of the company’s stock worth $200,000 after purchasing an additional 7,198 shares in the last quarter. 94.84% of the stock is currently owned by institutional investors.

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.