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

Dropbox, Inc. (NASDAQ:DBX) CFO Timothy Regan sold 3,000 shares of the firm’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $23.60, for a total value of $70,800.00. Following the transaction, the chief financial officer now owns 591,995 shares in the company, valued at $13,971,082. The sale was disclosed in a document filed with the SEC, which is available at 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 shares were 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 value of $72,060.00.

Dropbox Stock Down 0.9 %

Shares of NASDAQ:DBX opened at $23.37 on Friday. The company has a 50-day moving average price of $23.76 and a two-hundred day moving average price of $27.15. Dropbox, Inc. has a twelve month low of $19.55 and a twelve month high of $33.43. The firm has a market capitalization of $8.04 billion, a PE ratio of 17.70, a P/E/G ratio of 2.64 and a beta of 0.70.

Dropbox (NASDAQ:DBX) last released its quarterly earnings data on Thursday, February 15th. The company reported $0.25 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $630.77 million. Analysts anticipate that Dropbox, Inc. will post 1.14 earnings per share for the current fiscal year.

Institutional Trading of Dropbox

Hedge funds and other institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC bought a new position in shares of Dropbox in the fourth quarter valued at 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 bought a new position in Dropbox in the 1st quarter valued at $28,000. Fifth Third Bancorp grew its position in shares of Dropbox by 424.2% during the 3rd quarter. Fifth Third Bancorp now owns 1,085 shares of the company’s stock valued at $30,000 after purchasing an additional 878 shares in the last quarter. Finally, Cary Street Partners Investment Advisory LLC increased its holdings in shares of Dropbox by 29,175.0% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 1,171 shares of the company’s stock worth $32,000 after purchasing an additional 1,167 shares during the period. 94.84% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

DBX has been the topic of a number of recent analyst reports. KeyCorp lifted their price target on Dropbox from $32.00 to $37.00 and gave the stock an “overweight” rating in a report on Friday, January 19th. The Goldman Sachs Group downgraded shares of Dropbox from a “neutral” rating to a “sell” rating and cut their price target for the stock from $26.00 to $24.00 in a report on Friday, February 16th. JMP Securities downgraded shares of Dropbox from an “outperform” rating to a “market perform” rating in a report on Friday, February 16th. Bank of America lowered shares of Dropbox from a “buy” rating to an “underperform” rating and lowered their price objective for the stock from $34.00 to $28.00 in a research report on Friday, February 16th. Finally, JPMorgan Chase & Co. downgraded shares of Dropbox from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $33.00 to $30.00 in a research report on Friday, February 16th. Three analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $29.78.

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.