Dropbox, Inc. (NASDAQ:DBX) CFO Sells $70,800.00 in Stock

Dropbox, Inc. (NASDAQ:DBX) CFO Timothy Regan sold 3,000 shares of the business’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $23.60, for a total value of $70,800.00. Following the transaction, the chief financial officer now directly owns 591,995 shares of the company’s stock, 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 stock was 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 shares were sold at an average price of $24.36, for a total transaction 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 transaction of $72,060.00.

Dropbox Price Performance

Shares of NASDAQ:DBX opened at $23.37 on Friday. 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 $8.04 billion, a P/E ratio of 17.70, a P/E/G ratio of 2.65 and a beta of 0.70. The firm has a fifty day moving average price of $23.76 and a 200 day moving average price of $27.15.

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

Institutional Investors Weigh In On Dropbox

Several large investors have recently modified their holdings of the stock. Mediolanum International Funds Ltd purchased a new position in Dropbox in the 1st quarter valued at $5,813,000. Daiwa Securities Group Inc. increased its stake in shares of Dropbox by 160.1% during the first quarter. Daiwa Securities Group Inc. now owns 41,750 shares of the company’s stock worth $1,014,000 after acquiring an additional 25,700 shares during the period. Tobam purchased a new position in Dropbox during the first quarter worth about $459,000. Hussman Strategic Advisors Inc. acquired a new stake in Dropbox in the first quarter valued at about $1,786,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in Dropbox by 21.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,118,210 shares of the company’s stock valued at $27,173,000 after purchasing an additional 200,775 shares in the last quarter. Hedge funds and other institutional investors own 94.84% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on DBX. Citigroup decreased their price target on Dropbox from $31.00 to $27.00 and set a “neutral” rating for the company in a report on Friday, March 22nd. The Goldman Sachs Group downgraded Dropbox from a “neutral” rating to a “sell” rating and lowered their price target for the company from $26.00 to $24.00 in a report on Friday, February 16th. KeyCorp raised their price objective on shares of Dropbox from $32.00 to $37.00 and gave the stock an “overweight” rating in a report on Friday, January 19th. Bank of America cut shares of Dropbox from a “buy” rating to an “underperform” rating and lowered their target price for the company from $34.00 to $28.00 in a report on Friday, February 16th. Finally, JPMorgan Chase & Co. lowered shares of Dropbox from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $33.00 to $30.00 in a research note 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 company’s stock. According to MarketBeat.com, Dropbox has an average rating of “Hold” and a consensus price target of $29.78.

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.