Insider Selling: Dropbox, Inc. (NASDAQ:DBX) CFO Sells $80,475.00 in Stock

Dropbox, Inc. (NASDAQ:DBX) CFO Timothy Regan sold 2,500 shares of the firm’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $32.19, for a total transaction of $80,475.00. Following the completion of the transaction, the chief financial officer now directly owns 396,264 shares in the company, valued at approximately $12,755,738.16. This represents a 0.63 % decrease in their ownership of the stock. The transaction 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 Thursday, January 30th, Timothy Regan sold 2,500 shares of Dropbox stock. The shares were sold at an average price of $32.17, for a total transaction of $80,425.00.
• On Wednesday, January 15th, Timothy Regan sold 2,500 shares of Dropbox stock. The shares were sold at an average price of $30.37, for a total transaction of $75,925.00.
• On Thursday, January 2nd, Timothy Regan sold 10,000 shares of Dropbox stock. The shares were sold at an average price of $29.65, for a total transaction of $296,500.00.
• On Monday, December 30th, Timothy Regan sold 2,500 shares of Dropbox stock. The shares were sold at an average price of $30.38, for a total transaction of $75,950.00.
• On Friday, November 15th, Timothy Regan sold 2,500 shares of Dropbox stock. The shares were sold at an average price of $27.17, for a total transaction of $67,925.00.

Dropbox Trading Up 1.8 %

Shares of Dropbox stock opened at $32.49 on Friday. The firm has a market capitalization of $10.06 billion, a PE ratio of 18.78, a price-to-earnings-growth ratio of 1.64 and a beta of 0.61. The firm’s 50 day moving average is $30.65 and its 200 day moving average is $27.16. Dropbox, Inc. has a 1 year low of $20.68 and a 1 year high of $33.33.

Institutional Investors Weigh In On Dropbox

Hedge funds have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC boosted its position in Dropbox by 96.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 865 shares of the company’s stock worth $26,000 after buying an additional 424 shares during the period. Capital Performance Advisors LLP acquired a new stake in Dropbox during the 3rd quarter worth approximately $28,000. Avion Wealth boosted its position in Dropbox by 4,472.7% during the 4th quarter. Avion Wealth now owns 1,006 shares of the company’s stock worth $30,000 after buying an additional 984 shares during the period. V Square Quantitative Management LLC acquired a new stake in Dropbox during the 3rd quarter worth approximately $31,000. Finally, SBI Securities Co. Ltd. acquired a new stake in Dropbox during the 4th quarter worth approximately $40,000. 94.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group lifted their price target on shares of Dropbox from $27.00 to $30.00 and gave the company a “hold” rating in a report on Monday, January 6th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $27.50.

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.