Timothy Regan Sells 13,000 Shares of Dropbox, Inc. (NASDAQ:DBX) Stock

Dropbox, Inc. (NASDAQ:DBX) CFO Timothy Regan sold 13,000 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $22.33, for a total value of $290,290.00. Following the sale, the chief financial officer now directly owns 538,122 shares of the company’s stock, valued at approximately $12,016,264.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Wednesday, May 29th, Timothy Regan sold 3,000 shares of Dropbox stock. The shares were sold at an average price of $23.12, for a total value of $69,360.00.
• On Tuesday, April 30th, Timothy Regan sold 3,000 shares of Dropbox stock. The shares were sold at an average price of $23.60, for a total value of $70,800.00.
• 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 value of $69,330.00.

Dropbox Stock Up 0.1 %

Shares of DBX stock opened at $22.63 on Friday. The stock has a fifty day moving average of $22.61 and a 200 day moving average of $25.65. Dropbox, Inc. has a 52 week low of $20.68 and a 52 week high of $33.43. The firm has a market capitalization of $7.47 billion, a price-to-earnings ratio of 14.99, a PEG ratio of 1.57 and a beta of 0.65.

Dropbox (NASDAQ:DBX) last posted its quarterly earnings data on Thursday, May 9th. The company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.13. The business had revenue of $631.30 million during the quarter, compared to the consensus estimate of $628.81 million. Dropbox had a negative return on equity of 148.13% and a net margin of 20.50%. Equities research analysts anticipate that Dropbox, Inc. will post 1.26 earnings per share for the current year.

Hedge Funds Weigh In On Dropbox

Institutional investors have recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale raised its holdings in Dropbox by 65.8% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 2,189,593 shares of the company’s stock worth $64,825,000 after purchasing an additional 869,043 shares in the last quarter. AGF Management Ltd. bought a new position in Dropbox in the fourth quarter worth $2,935,000. Charles Schwab Investment Management Inc. raised its holdings in Dropbox by 3.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,990,186 shares of the company’s stock worth $88,151,000 after purchasing an additional 98,568 shares in the last quarter. Seizert Capital Partners LLC raised its holdings in Dropbox by 31.7% in the fourth quarter. Seizert Capital Partners LLC now owns 254,469 shares of the company’s stock worth $7,502,000 after purchasing an additional 61,292 shares in the last quarter. Finally, Franklin Resources Inc. raised its holdings in Dropbox by 16.4% in the fourth quarter. Franklin Resources Inc. now owns 458,789 shares of the company’s stock worth $13,525,000 after purchasing an additional 64,492 shares in the last quarter. Institutional investors own 94.84% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Citigroup dropped their price objective on Dropbox from $26.00 to $25.00 and set a “neutral” rating for the company in a research note on Wednesday, June 26th. Three analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $29.56.

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.