Timothy Regan Sells 3,000 Shares of Dropbox, Inc. (NASDAQ:DBX) Stock

Dropbox, Inc. (NASDAQ:DBX) CFO Timothy Regan sold 3,000 shares of the company’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $24.36, for a total transaction of $73,080.00. Following the completion of the transaction, the chief financial officer now owns 400,720 shares of the company’s stock, valued at approximately $9,761,539.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Friday, March 15th, Timothy Regan sold 3,000 shares of Dropbox stock. The stock was sold at an average price of $24.02, for a total transaction of $72,060.00.
• On Tuesday, January 30th, Timothy Regan sold 3,000 shares of Dropbox stock. The stock was sold at an average price of $32.50, for a total transaction of $97,500.00.

Dropbox Trading Down 0.6 %

Shares of NASDAQ:DBX traded down $0.14 during midday trading on Friday, hitting $24.30. The stock had a trading volume of 3,309,588 shares, compared to its average volume of 4,660,514. The company has a market capitalization of $8.36 billion, a PE ratio of 18.41, a P/E/G ratio of 2.75 and a beta of 0.71. The stock has a 50 day moving average price of $27.45 and a two-hundred day moving average price of $27.85. Dropbox, Inc. has a 1 year low of $19.55 and a 1 year high of $33.43.

Dropbox (NASDAQ:DBX) last released its quarterly earnings data on Thursday, February 15th. The company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). The company had revenue of $635.00 million for the quarter, compared to analysts’ expectations of $630.77 million. Dropbox had a negative return on equity of 120.82% and a net margin of 18.13%. As a group, equities analysts expect that Dropbox, Inc. will post 1.14 EPS for the current year.

Wall Street Analysts Forecast Growth

DBX has been the subject of several research analyst reports. Citigroup reduced their price target on shares of Dropbox from $31.00 to $27.00 and set a “neutral” rating for the company in a research report on Friday, March 22nd. JMP Securities downgraded shares of Dropbox from an “outperform” rating to a “market perform” rating in a research report on Friday, February 16th. Bank of America downgraded shares of Dropbox from a “buy” rating to an “underperform” rating and reduced their price target for the stock from $34.00 to $28.00 in a research report on Friday, February 16th. JPMorgan Chase & Co. downgraded shares of Dropbox from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $33.00 to $30.00 in a report on Friday, February 16th. Finally, The Goldman Sachs Group downgraded shares of Dropbox from a “neutral” rating to a “sell” rating and cut their price objective for the company from $26.00 to $24.00 in a report on Friday, February 16th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $29.78.

Hedge Funds Weigh In On Dropbox

A number of institutional investors have recently modified their holdings of the company. B. Riley Wealth Advisors Inc. raised its position in shares of Dropbox by 9.7% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 18,578 shares of the company’s stock valued at $548,000 after buying an additional 1,642 shares during the last quarter. Fisher Asset Management LLC raised its stake in Dropbox by 11.6% during the fourth quarter. Fisher Asset Management LLC now owns 130,964 shares of the company’s stock worth $3,861,000 after purchasing an additional 13,582 shares during the period. Quarry LP purchased a new position in Dropbox during the fourth quarter worth approximately $64,000. Aurora Investment Counsel raised its stake in Dropbox by 1.4% during the fourth quarter. Aurora Investment Counsel now owns 64,622 shares of the company’s stock worth $1,905,000 after purchasing an additional 902 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its stake in Dropbox by 2.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 192,017 shares of the company’s stock worth $5,661,000 after purchasing an additional 4,701 shares during the period. Institutional investors and hedge funds 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.