Dropbox, Inc. (NASDAQ:DBX) CFO Timothy Regan Sells 3,000 Shares

Dropbox, Inc. (NASDAQ:DBX) CFO Timothy Regan sold 3,000 shares of Dropbox stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $23.11, for a total value of $69,330.00. Following the sale, the chief financial officer now directly owns 594,995 shares in the company, valued at $13,750,334.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Wednesday, March 27th, Timothy Regan sold 3,000 shares of Dropbox stock. The stock was sold at an average price of $24.36, for a total value of $73,080.00.
• On Friday, March 15th, Timothy Regan sold 3,000 shares of Dropbox stock. The stock was sold at an average price of $24.02, for a total value of $72,060.00.
• On Tuesday, January 30th, Timothy Regan sold 3,000 shares of Dropbox stock. The stock was sold at an average price of $32.50, for a total value of $97,500.00.

Dropbox Trading Down 0.6 %

NASDAQ:DBX opened at $22.80 on Thursday. Dropbox, Inc. has a 1 year low of $19.55 and a 1 year high of $33.43. The firm has a 50 day moving average of $25.13 and a 200-day moving average of $27.52. The stock has a market capitalization of $7.84 billion, a P/E ratio of 17.27, a price-to-earnings-growth ratio of 2.58 and a beta of 0.71.

Dropbox (NASDAQ:DBX) last posted its earnings results on Thursday, February 15th. The company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). Dropbox had a net margin of 18.13% and a negative return on equity of 120.82%. The firm had revenue of $635.00 million during the quarter, compared to the consensus estimate of $630.77 million. As a group, analysts forecast that Dropbox, Inc. will post 1.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. GAMMA Investing LLC bought a new position in Dropbox in the 4th quarter worth approximately $25,000. Contravisory Investment Management Inc. bought a new position in Dropbox in the 4th quarter worth approximately $26,000. Sound Income Strategies LLC bought a new position in Dropbox in the 1st quarter worth approximately $28,000. Harbour Investments Inc. bought a new position in Dropbox in the 4th quarter worth approximately $29,000. Finally, Fifth Third Bancorp raised its position in Dropbox by 424.2% in the 3rd quarter. Fifth Third Bancorp now owns 1,085 shares of the company’s stock worth $30,000 after purchasing an additional 878 shares during the last quarter. Institutional investors own 94.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on DBX. The Goldman Sachs Group downgraded Dropbox from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $26.00 to $24.00 in a research report on Friday, February 16th. Bank of America cut shares of Dropbox from a “buy” rating to an “underperform” rating and cut their price target for the stock from $34.00 to $28.00 in a research note on Friday, February 16th. Citigroup cut their price target on shares of Dropbox from $31.00 to $27.00 and set a “neutral” rating for the company in a research note on Friday, March 22nd. KeyCorp raised their price target on shares of Dropbox from $32.00 to $37.00 and gave the stock an “overweight” rating in a research note on Friday, January 19th. Finally, JMP Securities cut shares of Dropbox from an “outperform” rating to a “market perform” rating in a research note on Friday, February 16th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $29.78.

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.