Dropbox, Inc. (NASDAQ:DBX) CFO Sells $296,500.00 in Stock

Dropbox, Inc. (NASDAQ:DBX) CFO Timothy Regan sold 10,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $29.65, for a total value of $296,500.00. Following the sale, the chief financial officer now owns 403,764 shares of the company’s stock, valued at approximately $11,971,602.60. The trade was a 2.42 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Monday, December 30th, Timothy Regan sold 2,500 shares of Dropbox stock. The stock was sold at an average price of $30.38, for a total value 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.
• 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 shares were sold at an average price of $26.18, for a total transaction of $65,450.00.

Dropbox Stock Up 0.5 %

Shares of DBX stock opened at $29.74 on Thursday. Dropbox, Inc. has a 12-month low of $20.68 and a 12-month high of $33.43. The firm has a fifty day moving average of $28.66 and a 200-day moving average of $25.63. The firm has a market capitalization of $9.21 billion, a price-to-earnings ratio of 17.19, a price-to-earnings-growth ratio of 1.68 and a beta of 0.61.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DBX. TD Asset Management Inc raised its position in shares of Dropbox by 17.9% during the second quarter. TD Asset Management Inc now owns 25,500 shares of the company’s stock worth $573,000 after purchasing an additional 3,866 shares during the period. Victory Capital Management Inc. lifted its stake in Dropbox by 30.8% in the second quarter. Victory Capital Management Inc. now owns 729,281 shares of the company’s stock valued at $16,387,000 after buying an additional 171,917 shares in the last quarter. Foundry Partners LLC acquired a new position in shares of Dropbox in the second quarter valued at approximately $555,000. Gallacher Capital Management LLC acquired a new position in shares of Dropbox in the second quarter valued at approximately $289,000. Finally, Paralel Advisors LLC acquired a new stake in shares of Dropbox during the second quarter worth $2,111,000. 94.84% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Jefferies Financial Group upped their target price on shares of Dropbox from $27.00 to $30.00 and gave the company a “hold” rating in a research report on Monday. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Dropbox currently has a consensus rating of “Hold” and a consensus target price of $28.86.

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.