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

Dropbox, Inc. (NASDAQ:DBX) CFO Timothy Regan sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $28.40, for a total value of $71,000.00. Following the completion of the sale, the chief financial officer directly owned 526,094 shares in the company, valued at approximately $14,941,069.60. The trade was a 0.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

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

• On Tuesday, July 1st, Timothy Regan sold 10,000 shares of Dropbox stock. The stock was sold at an average price of $27.94, for a total value of $279,400.00.
• On Friday, June 13th, Timothy Regan sold 2,500 shares of Dropbox stock. The shares were sold at an average price of $28.10, for a total transaction of $70,250.00.
• On Friday, May 30th, Timothy Regan sold 2,500 shares of Dropbox stock. The stock was 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 shares were 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 shares were sold at an average price of $26.94, for a total transaction of $67,350.00.

Dropbox Stock Down 0.5%

Dropbox stock opened at $27.55 on Thursday. The company has a fifty day simple moving average of $28.77 and a 200-day simple moving average of $28.82. The firm has a market capitalization of $7.76 billion, a price-to-earnings ratio of 18.01, a PEG ratio of 10.90 and a beta of 0.65. Dropbox, Inc. has a 52-week low of $21.32 and a 52-week high of $33.33.

Dropbox (NASDAQ:DBX) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.08. Dropbox had a net margin of 18.50% and a negative return on equity of 79.66%. The company had revenue of $624.70 million during the quarter, compared to the consensus estimate of $619.56 million. During the same quarter in the prior year, the firm earned $0.58 EPS. Dropbox’s quarterly revenue was down 1.0% on a year-over-year basis. On average, research analysts anticipate that Dropbox, Inc. will post 1.64 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on DBX shares. Citigroup increased their target price on Dropbox from $30.00 to $32.00 and gave the company a “neutral” rating in a report on Friday, May 9th. UBS Group lifted their price target on Dropbox from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Friday, May 9th.

Institutional Investors Weigh In On Dropbox

Several hedge funds and other institutional investors have recently bought and sold shares of DBX. EverSource Wealth Advisors LLC boosted its holdings in Dropbox by 96.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 865 shares of the company’s stock valued at $26,000 after purchasing an additional 424 shares during the last quarter. Elequin Capital LP increased its holdings in shares of Dropbox by 71.0% during the 1st quarter. Elequin Capital LP now owns 1,130 shares of the company’s stock worth $30,000 after buying an additional 469 shares during the last quarter. True Wealth Design LLC raised its position in shares of Dropbox by 191.0% during the 4th quarter. True Wealth Design LLC now owns 1,036 shares of the company’s stock valued at $31,000 after buying an additional 680 shares during the period. Brooklyn Investment Group lifted its holdings in Dropbox by 250.3% in the first quarter. Brooklyn Investment Group now owns 1,387 shares of the company’s stock valued at $37,000 after acquiring an additional 991 shares during the last quarter. Finally, SBI Securities Co. Ltd. purchased a new position in Dropbox in the fourth quarter worth approximately $40,000. 94.84% of the stock is currently owned by institutional investors and hedge funds.

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.