Insider Selling: Dropbox, Inc. (NASDAQ:DBX) CFO Sells 3,000 Shares of Stock

Dropbox, Inc. (NASDAQ:DBXGet Free Report) CFO Timothy Regan sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $24.36, for a total transaction of $73,080.00. Following the sale, the chief financial officer now owns 400,720 shares of the company’s stock, valued at approximately $9,761,539.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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

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

Dropbox Stock Down 0.6 %

Dropbox stock opened at $24.30 on Friday. The firm has a fifty day simple moving average of $27.29 and a two-hundred day simple moving average of $27.82. Dropbox, Inc. has a twelve month low of $19.55 and a twelve month high of $33.43. The company has a market capitalization of $8.36 billion, a PE ratio of 18.41, a P/E/G ratio of 2.74 and a beta of 0.71.

Dropbox (NASDAQ:DBXGet Free Report) last released its quarterly earnings data 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). Dropbox had a net margin of 18.13% and a negative return on equity of 120.82%. The firm had revenue of $635.00 million during the quarter, compared to analysts’ expectations of $630.77 million. As a group, equities analysts expect that Dropbox, Inc. will post 1.14 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on DBX shares. Bank of America lowered shares of Dropbox from a “buy” rating to an “underperform” rating and decreased their price target for the stock from $34.00 to $28.00 in a research note on Friday, February 16th. The Goldman Sachs Group lowered 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 note on Friday, February 16th. JMP Securities lowered shares of Dropbox from an “outperform” rating to a “market perform” rating in a research note on Friday, February 16th. UBS Group initiated coverage on shares of Dropbox in a research note on Friday, December 15th. They issued a “buy” rating and a $36.00 price objective for the company. Finally, KeyCorp lifted their price objective on shares of Dropbox from $32.00 to $37.00 and gave the company an “overweight” rating in a research note on Friday, January 19th. Three research 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. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $29.78.

Read Our Latest Stock Analysis on Dropbox

Hedge Funds Weigh In On Dropbox

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Baupost Group LLC MA increased its position in shares of Dropbox by 30.6% during the first quarter. Baupost Group LLC MA now owns 10,571,046 shares of the company’s stock valued at $245,777,000 after buying an additional 2,476,021 shares during the period. Thrivent Financial for Lutherans increased its position in shares of Dropbox by 10.8% during the second quarter. Thrivent Financial for Lutherans now owns 5,013,693 shares of the company’s stock valued at $133,715,000 after buying an additional 490,484 shares during the period. Jacobs Levy Equity Management Inc. increased its position in shares of Dropbox by 5.4% during the third quarter. Jacobs Levy Equity Management Inc. now owns 4,418,927 shares of the company’s stock valued at $120,327,000 after buying an additional 227,633 shares during the period. Geode Capital Management LLC grew its holdings in Dropbox by 6.5% in the second quarter. Geode Capital Management LLC now owns 4,245,279 shares of the company’s stock worth $113,050,000 after purchasing an additional 257,648 shares during the period. Finally, First Trust Advisors LP grew its holdings in Dropbox by 9.5% in the first quarter. First Trust Advisors LP now owns 3,782,752 shares of the company’s stock worth $81,783,000 after purchasing an additional 326,958 shares during the period. Hedge funds and other institutional investors own 94.84% of the company’s stock.

About Dropbox

(Get Free Report)

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.

Further Reading

Insider Buying and Selling by Quarter for Dropbox (NASDAQ:DBX)

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