Dropbox, Inc. (NASDAQ:DBX) CFO Timothy Regan Sells 3,000 Shares

Dropbox, Inc. (NASDAQ:DBX) CFO Timothy Regan sold 3,000 shares of the stock in a transaction on Friday, September 15th. The stock was sold at an average price of $27.09, for a total value of $81,270.00. Following the completion of the sale, the chief financial officer now directly owns 508,252 shares in the company, valued at $13,768,546.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Wednesday, August 30th, Timothy Regan sold 3,000 shares of Dropbox stock. The stock was sold at an average price of $27.71, for a total value of $83,130.00.
• On Tuesday, August 15th, Timothy Regan sold 3,000 shares of Dropbox stock. The stock was sold at an average price of $28.17, for a total value of $84,510.00.
• On Thursday, August 10th, Timothy Regan sold 75,000 shares of Dropbox stock. The stock was sold at an average price of $27.76, for a total value of $2,082,000.00.
• On Tuesday, July 25th, Timothy Regan sold 2,585 shares of Dropbox stock. The stock was sold at an average price of $26.84, for a total value of $69,381.40.
• On Tuesday, July 18th, Timothy Regan sold 3,231 shares of Dropbox stock. The stock was sold at an average price of $28.00, for a total transaction of $90,468.00.
• On Monday, July 3rd, Timothy Regan sold 4,308 shares of Dropbox stock. The shares were sold at an average price of $26.64, for a total value of $114,765.12.
• On Monday, June 26th, Timothy Regan sold 2,585 shares of Dropbox stock. The shares were sold at an average price of $26.03, for a total transaction of $67,287.55.

Dropbox Stock Down 0.2 %

NASDAQ:DBX traded down $0.06 on Tuesday, reaching $26.51. The company’s stock had a trading volume of 2,658,113 shares, compared to its average volume of 3,661,398. The firm has a market cap of $9.22 billion, a price-to-earnings ratio of 17.79, a price-to-earnings-growth ratio of 1.75 and a beta of 0.89. Dropbox, Inc. has a 12-month low of $18.71 and a 12-month high of $28.68. The stock has a 50 day moving average price of $27.36 and a 200 day moving average price of $24.23.

Dropbox (NASDAQ:DBX) last posted its quarterly earnings data on Thursday, August 3rd. The company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.07. Dropbox had a net margin of 21.61% and a negative return on equity of 79.08%. The firm had revenue of $622.50 million during the quarter, compared to analysts’ expectations of $613.64 million. Equities research analysts expect that Dropbox, Inc. will post 1.05 EPS for the current fiscal year.

Hedge Funds Weigh In On Dropbox

Hedge funds have recently modified their holdings of the business. Baupost Group LLC MA raised its holdings in Dropbox by 30.6% during the first quarter. Baupost Group LLC MA now owns 10,571,046 shares of the company’s stock worth $245,777,000 after purchasing an additional 2,476,021 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Dropbox by 7.5% during the 2nd quarter. Renaissance Technologies LLC now owns 9,297,833 shares of the company’s stock valued at $247,973,000 after acquiring an additional 651,900 shares during the last quarter. UBS Group AG increased its stake in Dropbox by 378.5% during the first quarter. UBS Group AG now owns 5,063,268 shares of the company’s stock worth $109,468,000 after acquiring an additional 4,005,004 shares during the last quarter. Thrivent Financial for Lutherans increased its position in Dropbox by 10.8% during the 2nd quarter. Thrivent Financial for Lutherans now owns 5,013,693 shares of the company’s stock worth $133,715,000 after purchasing an additional 490,484 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in Dropbox by 22.2% during the fourth quarter. Geode Capital Management LLC now owns 4,970,819 shares of the company’s stock valued at $111,148,000 after buying an additional 901,437 shares in the last quarter. 70.28% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on DBX. The Goldman Sachs Group upped their price target on shares of Dropbox from $25.00 to $28.00 and gave the company a “neutral” rating in a report on Friday, August 4th. Citigroup reissued a “neutral” rating and issued a $30.00 price objective on shares of Dropbox in a research report on Monday. Royal Bank of Canada increased their price target on Dropbox from $30.00 to $32.00 and gave the company an “outperform” rating in a research note on Friday, August 4th. Credit Suisse Group raised their target price on Dropbox from $18.00 to $22.00 and gave the stock an “underperform” rating in a research note on Friday, August 4th. Finally, William Blair cut shares of Dropbox from an “outperform” rating to a “market perform” rating in a report on Monday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $29.14.

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.