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 dated Friday, November 15th. The shares were sold at an average price of $27.17, for a total value of $67,925.00. Following the completion of the transaction, the chief financial officer now owns 436,264 shares in the company, valued at $11,853,292.88. This trade represents a 0.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Tuesday, October 29th, Timothy Regan sold 2,500 shares of Dropbox stock. The stock was sold at an average price of $25.71, for a total transaction of $64,275.00.
• 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 stock was sold at an average price of $25.00, for a total transaction of $79,425.00.
• 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 shares were sold at an average price of $24.35, for a total transaction of $60,875.00.

Dropbox Stock Performance

Shares of Dropbox stock traded up $0.29 during trading hours on Tuesday, reaching $26.67. The company’s stock had a trading volume of 3,200,412 shares, compared to its average volume of 3,684,218. The company’s 50 day simple moving average is $25.82 and its 200 day simple moving average is $23.91. Dropbox, Inc. has a one year low of $20.68 and a one year high of $33.43. The stock has a market cap of $8.26 billion, a P/E ratio of 15.40, a price-to-earnings-growth ratio of 1.72 and a beta of 0.61.

Analyst Upgrades and Downgrades

Separately, UBS Group decreased their price target on Dropbox from $30.00 to $28.00 and set a “buy” rating for the company in a report on Friday, August 9th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $28.67.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DBX. State Board of Administration of Florida Retirement System increased its position in Dropbox by 3.7% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 245,177 shares of the company’s stock valued at $5,958,000 after acquiring an additional 8,672 shares during the period. Blair William & Co. IL acquired a new position in shares of Dropbox during the first quarter valued at approximately $596,000. Vanguard Group Inc. raised its stake in shares of Dropbox by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 27,379,532 shares of the company’s stock worth $665,323,000 after buying an additional 105,250 shares in the last quarter. UniSuper Management Pty Ltd boosted its stake in Dropbox by 94.7% during the first quarter. UniSuper Management Pty Ltd now owns 3,700 shares of the company’s stock valued at $90,000 after buying an additional 1,800 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co lifted its holdings in Dropbox by 10.6% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 435,928 shares of the company’s stock valued at $10,591,000 after acquiring an additional 41,680 shares during the last quarter. Institutional investors and hedge funds own 94.84% of the company’s stock.

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.