Timothy Regan Sells 2,500 Shares of Dropbox, Inc. (NASDAQ:DBX) Stock

Dropbox, Inc. (NASDAQ:DBX) CFO Timothy Regan sold 2,500 shares of Dropbox stock in a transaction on Friday, June 13th. The stock was sold at an average price of $28.10, for a total transaction of $70,250.00. Following the transaction, the chief financial officer now directly owns 528,594 shares in the company, valued at $14,853,491.40. This represents a 0.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Friday, May 30th, Timothy Regan sold 2,500 shares of Dropbox stock. The shares were sold at an average price of $28.78, for a total transaction of $71,950.00.
• On Thursday, May 15th, Timothy Regan sold 2,500 shares of Dropbox stock. The stock was sold at an average price of $29.53, for a total transaction of $73,825.00.
• On Wednesday, April 30th, Timothy Regan sold 2,500 shares of Dropbox stock. The shares were sold at an average price of $28.29, for a total transaction of $70,725.00.
• On Tuesday, April 15th, Timothy Regan sold 2,500 shares of Dropbox stock. The stock was sold at an average price of $26.94, for a total value of $67,350.00.
• On Friday, March 28th, Timothy Regan sold 2,500 shares of Dropbox stock. The shares were sold at an average price of $26.57, for a total value of $66,425.00.

Dropbox Stock Down 2.2%

Dropbox stock opened at $28.32 on Thursday. The firm has a 50 day moving average price of $28.52 and a 200-day moving average price of $28.88. Dropbox, Inc. has a twelve month low of $20.68 and a twelve month high of $33.33. The company has a market capitalization of $7.97 billion, a P/E ratio of 18.51 and a beta of 0.66.

Dropbox (NASDAQ:DBX) last released its earnings results on Thursday, May 8th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.08. The business had revenue of $624.70 million during the quarter, compared to the consensus estimate of $619.56 million. Dropbox had a negative return on equity of 79.66% and a net margin of 18.50%. The business’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same period last year, the business posted $0.58 earnings per share. Equities analysts expect that Dropbox, Inc. will post 1.64 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

DBX has been the topic of several research analyst reports. Citigroup boosted their price objective on Dropbox from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Friday, May 9th. UBS Group boosted their price target on shares of Dropbox from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Friday, May 9th.

Institutional Investors Weigh In On Dropbox

Several large investors have recently added to or reduced their stakes in DBX. Empowered Funds LLC boosted its holdings in Dropbox by 68.0% in the 4th quarter. Empowered Funds LLC now owns 36,140 shares of the company’s stock worth $1,086,000 after buying an additional 14,629 shares during the period. Intech Investment Management LLC boosted its holdings in shares of Dropbox by 185.2% in the fourth quarter. Intech Investment Management LLC now owns 150,488 shares of the company’s stock worth $4,521,000 after acquiring an additional 97,725 shares during the period. HighTower Advisors LLC grew its position in shares of Dropbox by 4.3% in the fourth quarter. HighTower Advisors LLC now owns 27,707 shares of the company’s stock valued at $832,000 after purchasing an additional 1,131 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of Dropbox in the fourth quarter valued at $25,375,000. Finally, IFP Advisors Inc raised its stake in shares of Dropbox by 436.7% during the 4th quarter. IFP Advisors Inc now owns 3,322 shares of the company’s stock valued at $101,000 after purchasing an additional 2,703 shares during the period. Hedge funds and other 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.