Dropbox, Inc. (NASDAQ:DBX) CFO Sells $69,330.00 in Stock

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

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

• On Wednesday, March 27th, Timothy Regan sold 3,000 shares of Dropbox stock. The shares were 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.
• On Tuesday, January 30th, Timothy Regan sold 3,000 shares of Dropbox stock. The shares were sold at an average price of $32.50, for a total value of $97,500.00.

Dropbox Price Performance

Shares of DBX opened at $22.98 on Friday. The firm has a 50 day simple moving average of $24.73 and a 200-day simple moving average of $27.45. Dropbox, Inc. has a 1-year low of $19.55 and a 1-year high of $33.43. The stock has a market cap of $7.90 billion, a price-to-earnings ratio of 17.41, a price-to-earnings-growth ratio of 2.57 and a beta of 0.71.

Dropbox (NASDAQ:DBX) last issued its quarterly earnings data 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 negative return on equity of 120.82% and a net margin of 18.13%. The business had revenue of $635.00 million for the quarter, compared to analysts’ expectations of $630.77 million. On average, equities analysts expect that Dropbox, Inc. will post 1.14 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. GAMMA Investing LLC purchased a new stake in Dropbox in the 4th quarter worth approximately $25,000. Contravisory Investment Management Inc. purchased a new stake in Dropbox in the 4th quarter worth approximately $26,000. Sound Income Strategies LLC purchased a new stake in Dropbox in the 1st quarter worth approximately $28,000. Harbour Investments Inc. purchased a new stake in Dropbox in the 4th quarter worth approximately $29,000. Finally, Fifth Third Bancorp grew its stake in Dropbox by 424.2% in the 3rd quarter. Fifth Third Bancorp now owns 1,085 shares of the company’s stock worth $30,000 after acquiring an additional 878 shares during the period. 94.84% of the stock is owned by hedge funds and other institutional investors.

About Dropbox

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.