Dropbox (NASDAQ:DBX) CFO Timothy Regan Sells 1,500 Shares

Dropbox, Inc. (NASDAQ:DBX) CFO Timothy Regan sold 1,500 shares of Dropbox stock in a transaction that occurred on Thursday, October 30th. The stock was sold at an average price of $28.40, for a total value of $42,600.00. Following the completion of the transaction, the chief financial officer directly owned 468,621 shares in the company, valued at approximately $13,308,836.40. This represents a 0.32% decrease in their ownership of the stock. 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, October 15th, Timothy Regan sold 1,500 shares of Dropbox stock. The stock was sold at an average price of $28.62, for a total value of $42,930.00.
• On Wednesday, October 1st, Timothy Regan sold 5,000 shares of Dropbox stock. The stock was sold at an average price of $29.76, for a total value of $148,800.00.
• On Tuesday, September 30th, Timothy Regan sold 1,500 shares of Dropbox stock. The stock was sold at an average price of $30.71, for a total value of $46,065.00.
• On Friday, August 15th, Timothy Regan sold 2,500 shares of Dropbox stock. The stock was sold at an average price of $27.95, for a total value of $69,875.00.

Dropbox Trading Up 2.4%

DBX stock traded up $0.70 during mid-day trading on Monday, reaching $29.70. The company’s stock had a trading volume of 4,445,698 shares, compared to its average volume of 3,622,913. The company has a market cap of $8.01 billion, a price-to-earnings ratio of 18.11, a price-to-earnings-growth ratio of 3.82 and a beta of 0.67. The business’s 50 day moving average price is $29.75 and its 200 day moving average price is $28.72. Dropbox, Inc. has a 12 month low of $24.42 and a 12 month high of $33.33.

Dropbox (NASDAQ:DBX) last issued its earnings results on Thursday, August 7th. The company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.08. The business had revenue of $625.70 million during the quarter, compared to the consensus estimate of $618.60 million. Dropbox had a negative return on equity of 61.31% and a net margin of 19.17%.The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.60 earnings per share. As a group, equities analysts expect that Dropbox, Inc. will post 1.64 EPS for the current fiscal year.

Institutional Investors Weigh In On Dropbox

Hedge funds and other institutional investors have recently modified their holdings of the company. First Horizon Corp bought a new stake in shares of Dropbox during the third quarter valued at approximately $31,000. Neo Ivy Capital Management bought a new stake in Dropbox during the second quarter worth $30,000. Elequin Capital LP grew its holdings in Dropbox by 71.0% during the first quarter. Elequin Capital LP now owns 1,130 shares of the company’s stock worth $30,000 after buying an additional 469 shares in the last quarter. LRI Investments LLC grew its holdings in Dropbox by 666.7% during the third quarter. LRI Investments LLC now owns 1,150 shares of the company’s stock worth $35,000 after buying an additional 1,000 shares in the last quarter. Finally, Geneos Wealth Management Inc. grew its holdings in Dropbox by 78.0% during the second quarter. Geneos Wealth Management Inc. now owns 1,273 shares of the company’s stock worth $36,000 after buying an additional 558 shares in the last quarter. Institutional investors own 94.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of Dropbox in a report on Wednesday, October 8th. Wall Street Zen downgraded Dropbox from a “buy” rating to a “hold” rating in a report on Sunday, October 26th. Finally, UBS Group downgraded Dropbox from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $29.00 to $27.00 in a report on Thursday, September 18th. Three investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus price target of $29.67.

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.