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

Dropbox, Inc. (NASDAQ:DBX) CFO Timothy Regan sold 1,500 shares of the business’s stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $28.62, for a total transaction of $42,930.00. Following the transaction, the chief financial officer owned 470,121 shares in the company, valued at $13,454,863.02. The trade was a 0.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

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

• 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 transaction 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 transaction 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 transaction of $69,875.00.
• On Tuesday, July 29th, Timothy Regan sold 2,500 shares of Dropbox stock. The stock was sold at an average price of $27.98, for a total transaction of $69,950.00.

Dropbox Trading Up 2.5%

DBX opened at $29.10 on Friday. The firm has a market capitalization of $7.85 billion, a PE ratio of 17.74, a PEG ratio of 3.83 and a beta of 0.67. Dropbox, Inc. has a twelve month low of $24.42 and a twelve month high of $33.33. The firm’s 50-day moving average price is $29.49 and its 200 day moving average price is $28.49.

Dropbox (NASDAQ:DBX) last posted its quarterly 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. Dropbox had a net margin of 19.17% and a negative return on equity of 61.31%. The firm had revenue of $625.70 million for the quarter, compared to analyst estimates of $618.60 million. During the same period in the previous year, the business posted $0.60 earnings per share. Dropbox’s quarterly revenue was down 1.4% on a year-over-year basis. As a group, analysts predict that Dropbox, Inc. will post 1.64 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of Dropbox in a report on Wednesday, October 8th. UBS Group lowered shares of Dropbox from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $29.00 to $27.00 in a report on Thursday, September 18th. Finally, Wall Street Zen upgraded shares of Dropbox from a “hold” rating to a “buy” rating in a report on Saturday. Three investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average target price of $29.67.

Institutional Investors Weigh In On Dropbox

A number of hedge funds have recently added to or reduced their stakes in the business. Acadian Asset Management LLC lifted its holdings in Dropbox by 1.9% during the 1st quarter. Acadian Asset Management LLC now owns 8,544,978 shares of the company’s stock worth $228,202,000 after buying an additional 157,148 shares in the last quarter. LSV Asset Management lifted its holdings in Dropbox by 10.2% during the 2nd quarter. LSV Asset Management now owns 8,408,502 shares of the company’s stock worth $240,483,000 after buying an additional 774,986 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in Dropbox by 10.0% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 6,662,161 shares of the company’s stock worth $190,538,000 after buying an additional 605,258 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Dropbox by 1.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,950,273 shares of the company’s stock worth $78,802,000 after buying an additional 36,268 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec lifted its holdings in Dropbox by 38.1% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,482,705 shares of the company’s stock worth $66,313,000 after buying an additional 684,882 shares in the last quarter. 94.84% of the stock is currently owned by institutional investors and hedge funds.

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.