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 that occurred on Friday, February 7th. The stock was 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 owns 396,264 shares in the company, valued at $12,755,738.16. This trade represents a 0.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• On Thursday, January 30th, Timothy Regan sold 2,500 shares of Dropbox stock. The stock was 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 stock was 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 DBX 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 has a fifty day simple moving average of $30.65 and a two-hundred day simple moving average of $27.16. Dropbox, Inc. has a 12 month low of $20.68 and a 12 month high of $33.33.

Analysts Set New Price Targets

Separately, Jefferies Financial Group boosted 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, January 6th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $27.50.

Institutional Trading of Dropbox

A number of hedge funds and other institutional investors have recently bought and sold shares of DBX. Arrowstreet Capital Limited Partnership increased its stake in Dropbox by 38.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,224,864 shares of the company’s stock valued at $156,955,000 after purchasing an additional 1,440,887 shares in the last quarter. LSV Asset Management increased its stake in Dropbox by 24.0% during the 4th quarter. LSV Asset Management now owns 6,446,121 shares of the company’s stock valued at $193,641,000 after purchasing an additional 1,245,563 shares in the last quarter. KLP Kapitalforvaltning AS bought a new stake in Dropbox during the 4th quarter valued at $25,375,000. Norges Bank bought a new stake in Dropbox during the 4th quarter valued at $20,482,000. Finally, Caisse DE Depot ET Placement DU Quebec bought a new stake in Dropbox during the 3rd quarter valued at $11,687,000. Institutional investors 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.