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

Dropbox, Inc. (NASDAQ:DBX) CFO Timothy Regan sold 13,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $22.33, for a total value of $290,290.00. Following the completion of 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• On Wednesday, May 29th, Timothy Regan sold 3,000 shares of Dropbox stock. The stock was 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 stock was 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 stock was sold at an average price of $23.11, for a total value of $69,330.00.

Dropbox Stock Up 0.1 %

Shares of Dropbox stock traded up $0.03 on Wednesday, reaching $22.63. 1,429,126 shares of the stock were exchanged, compared to its average volume of 4,256,321. Dropbox, Inc. has a twelve month low of $20.68 and a twelve month 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 1.56 and a beta of 0.65. The business has a 50 day moving average price of $22.66 and a two-hundred day moving average price of $25.69.

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

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Stratos Wealth Partners LTD. increased its position in shares of Dropbox by 1.8% in the fourth quarter. Stratos Wealth Partners LTD. now owns 23,086 shares of the company’s stock valued at $681,000 after buying an additional 415 shares in the last quarter. iA Global Asset Management Inc. increased its position in shares of Dropbox by 6.1% in the third quarter. iA Global Asset Management Inc. now owns 7,207 shares of the company’s stock valued at $196,000 after buying an additional 417 shares in the last quarter. Parallel Advisors LLC increased its position in shares of Dropbox by 7.4% in the fourth quarter. Parallel Advisors LLC now owns 6,642 shares of the company’s stock valued at $196,000 after buying an additional 459 shares in the last quarter. Cooper Financial Group increased its position in shares of Dropbox by 3.1% in the first quarter. Cooper Financial Group now owns 15,581 shares of the company’s stock valued at $379,000 after buying an additional 462 shares in the last quarter. Finally, Arizona State Retirement System increased its position in shares of Dropbox by 0.7% in the fourth quarter. Arizona State Retirement System now owns 71,322 shares of the company’s stock valued at $2,103,000 after buying an additional 524 shares in the last quarter. 94.84% of the stock is owned by institutional investors and hedge funds.

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.