Insider Selling: Dropbox, Inc. (NASDAQ:DBX) CFO Sells 2,500 Shares of Stock

Dropbox, Inc. (NASDAQ:DBX) CFO Timothy Regan sold 2,500 shares of the business’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $25.71, for a total value of $64,275.00. Following the completion of the transaction, the chief financial officer now directly owns 464,247 shares in the company, valued at approximately $11,935,790.37. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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

• On Tuesday, October 15th, Timothy Regan sold 2,500 shares of Dropbox stock. The stock was sold at an average price of $26.18, for a total value of $65,450.00.
• On Thursday, September 19th, Timothy Regan sold 3,177 shares of Dropbox stock. The shares were sold at an average price of $25.00, for a total value of $79,425.00.
• On Monday, September 16th, Timothy Regan sold 400 shares of Dropbox stock. The shares were sold at an average price of $25.00, for a total value of $10,000.00.
• On Friday, September 13th, Timothy Regan sold 2,500 shares of Dropbox stock. The shares were sold at an average price of $24.35, for a total value of $60,875.00.

Dropbox Price Performance

DBX stock traded down $0.32 during midday trading on Thursday, reaching $25.85. The company had a trading volume of 2,655,006 shares, compared to its average volume of 3,707,968. The firm has a 50-day moving average price of $25.05 and a 200-day moving average price of $23.57. The company has a market capitalization of $8.54 billion, a P/E ratio of 17.26, a P/E/G ratio of 1.61 and a beta of 0.61. Dropbox, Inc. has a 1 year low of $20.68 and a 1 year high of $33.43.

Dropbox (NASDAQ:DBX) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.08. Dropbox had a negative return on equity of 161.78% and a net margin of 23.06%. The business had revenue of $634.50 million for the quarter, compared to the consensus estimate of $630.10 million. During the same quarter last year, the business posted $0.28 earnings per share. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. On average, equities analysts predict that Dropbox, Inc. will post 1.31 EPS for the current year.

Institutional Investors Weigh In On Dropbox

A number of hedge funds have recently made changes to their positions in DBX. GAMMA Investing LLC increased its stake in shares of Dropbox by 274.0% in the second quarter. GAMMA Investing LLC now owns 1,238 shares of the company’s stock worth $28,000 after buying an additional 907 shares during the period. Fifth Third Bancorp raised its position in Dropbox by 548.8% during the 2nd quarter. Fifth Third Bancorp now owns 1,382 shares of the company’s stock valued at $31,000 after purchasing an additional 1,169 shares during the last quarter. V Square Quantitative Management LLC bought a new position in shares of Dropbox during the third quarter valued at approximately $31,000. Quarry LP lifted its position in shares of Dropbox by 81.1% in the 2nd quarter. Quarry LP now owns 1,965 shares of the company’s stock worth $44,000 after purchasing an additional 880 shares during the period. Finally, UMB Bank n.a. raised its stake in Dropbox by 2,479.4% in the third quarter. UMB Bank n.a. now owns 1,754 shares of the company’s stock worth $45,000 after buying an additional 1,686 shares in the last quarter. 94.84% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, UBS Group dropped their price objective on Dropbox from $30.00 to $28.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned 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 $28.67.

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.