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 Thursday, October 30th. The stock was sold at an average price of $28.40, for a total transaction of $42,600.00. Following the transaction, the chief financial officer owned 468,621 shares in the company, valued at approximately $13,308,836.40. This trade represents a 0.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Wednesday, October 15th, Timothy Regan sold 1,500 shares of Dropbox stock. The shares were sold at an average price of $28.62, for a total transaction of $42,930.00.
• On Wednesday, October 1st, Timothy Regan sold 5,000 shares of Dropbox stock. The shares were sold at an average price of $29.76, for a total value 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 value 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 value of $69,875.00.

Dropbox Trading Down 2.5%

Shares of DBX stock opened at $28.97 on Wednesday. The company has a market cap of $7.82 billion, a price-to-earnings ratio of 17.66, a price-to-earnings-growth ratio of 3.91 and a beta of 0.65. The stock has a 50 day simple moving average of $29.76 and a 200-day simple moving average of $28.73. Dropbox, Inc. has a 12-month low of $24.42 and a 12-month high of $33.33.

Dropbox (NASDAQ:DBX) last issued its earnings results on Thursday, August 7th. The company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.08. The business had revenue of $625.70 million during the quarter, compared to the consensus estimate of $618.60 million. Dropbox had a negative return on equity of 61.31% and a net margin of 19.17%.The company’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.60 EPS. On average, equities analysts forecast that Dropbox, Inc. will post 1.64 earnings per share for the current fiscal year.

Analysts Set New Price Targets

DBX has been the subject of a number of analyst reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Dropbox in a research note on Wednesday, October 8th. UBS Group cut Dropbox from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $29.00 to $27.00 in a report on Thursday, September 18th. Finally, Wall Street Zen cut Dropbox from a “buy” rating to a “hold” rating in a report on Sunday, October 26th. Three investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $29.67.

Institutional Investors Weigh In On Dropbox

A number of institutional investors and hedge funds have recently modified their holdings of the company. Acadian Asset Management LLC grew its holdings in shares of Dropbox by 1.9% in the 1st quarter. Acadian Asset Management LLC now owns 8,544,978 shares of the company’s stock worth $228,202,000 after acquiring an additional 157,148 shares during the period. LSV Asset Management grew 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 valued at $240,483,000 after buying an additional 774,986 shares during the last quarter. Arrowstreet Capital Limited Partnership grew 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 valued at $190,538,000 after buying an additional 605,258 shares during the last quarter. Charles Schwab Investment Management Inc. grew 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 valued at $78,802,000 after buying an additional 36,268 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew 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 valued at $66,313,000 after buying an additional 684,882 shares during the last quarter. Institutional investors and hedge funds own 94.84% of the company’s stock.

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.