Insider Selling: Dropbox, Inc. (NASDAQ:DBX) CFO Sells 3,177 Shares of Stock

Dropbox, Inc. (NASDAQ:DBX) CFO Timothy Regan sold 3,177 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $25.00, for a total value of $79,425.00. Following the completion of the transaction, the chief financial officer now directly owns 481,747 shares in the company, valued at $12,043,675. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• On Monday, September 16th, Timothy Regan sold 400 shares of Dropbox stock. The stock was 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 stock was sold at an average price of $24.35, for a total value of $60,875.00.
• On Monday, July 15th, Timothy Regan sold 3,000 shares of Dropbox stock. The stock was sold at an average price of $22.76, for a total value of $68,280.00.
• On Monday, July 1st, Timothy Regan sold 13,000 shares of Dropbox stock. The stock was sold at an average price of $22.33, for a total value of $290,290.00.

Dropbox Trading Up 0.4 %

Shares of NASDAQ:DBX traded up $0.09 during trading on Monday, reaching $24.79. The company’s stock had a trading volume of 1,836,072 shares, compared to its average volume of 3,899,531. The stock has a market capitalization of $8.19 billion, a PE ratio of 16.36, a price-to-earnings-growth ratio of 1.51 and a beta of 0.61. Dropbox, Inc. has a 12 month low of $20.68 and a 12 month high of $33.43. The firm’s 50 day simple moving average is $23.58 and its two-hundred day simple moving average is $23.22.

Dropbox (NASDAQ:DBX) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.08. The business had revenue of $634.50 million during the quarter, compared to the consensus estimate of $630.10 million. Dropbox had a net margin of 23.06% and a negative return on equity of 161.78%. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.28 earnings per share. Research analysts anticipate that Dropbox, Inc. will post 1.31 EPS for the current fiscal year.

Institutional Investors Weigh In On Dropbox

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sound Income Strategies LLC purchased a new position in shares of Dropbox during the first quarter worth approximately $28,000. GAMMA Investing LLC increased its holdings in Dropbox by 274.0% during the 2nd quarter. GAMMA Investing LLC now owns 1,238 shares of the company’s stock worth $28,000 after purchasing 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 in the last quarter. Principal Securities Inc. purchased a new stake in shares of Dropbox in the 4th quarter worth $34,000. Finally, Quarry LP lifted its holdings 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 buying an additional 880 shares during the period. Institutional investors own 94.84% of the company’s stock.

Analysts Set New Price Targets

DBX has been the subject of a number of analyst reports. UBS Group cut their price target on Dropbox from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Citigroup cut their price objective on Dropbox from $26.00 to $25.00 and set a “neutral” rating for the company in a research report on Wednesday, June 26th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Dropbox currently has a consensus rating of “Hold” and a consensus 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.