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

Dropbox, Inc. (NASDAQ:DBX) CFO Timothy Regan sold 1,500 shares of Dropbox stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $30.71, for a total transaction of $46,065.00. Following the sale, the chief financial officer directly owned 476,621 shares in the company, valued at approximately $14,637,030.91. The trade was a 0.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• 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 transaction of $148,800.00.
• On Friday, August 15th, Timothy Regan sold 2,500 shares of Dropbox stock. The shares were 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 shares were sold at an average price of $27.98, for a total transaction of $69,950.00.
• On Tuesday, July 15th, Timothy Regan sold 2,500 shares of Dropbox stock. The shares were sold at an average price of $26.83, for a total transaction of $67,075.00.

Dropbox Stock Performance

Dropbox stock opened at $29.41 on Friday. Dropbox, Inc. has a fifty-two week low of $24.42 and a fifty-two week high of $33.33. The firm has a 50 day moving average price of $29.10 and a 200 day moving average price of $28.34. The company has a market capitalization of $7.94 billion, a PE ratio of 17.93, a price-to-earnings-growth ratio of 3.95 and a beta of 0.67.

Dropbox (NASDAQ:DBX) last posted its earnings results on Thursday, August 7th. The company reported $0.71 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $618.60 million. During the same quarter last year, the firm earned $0.60 EPS. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. As a group, equities research analysts forecast that Dropbox, Inc. will post 1.64 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on DBX shares. Weiss Ratings restated a “hold (c+)” rating on shares of Dropbox in a research note on Saturday, September 27th. UBS Group downgraded shares of Dropbox from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $29.00 to $27.00 in a research note on Thursday, September 18th. Finally, Wall Street Zen downgraded shares of Dropbox from a “buy” rating to a “hold” rating in a research note on Friday, September 5th. Three equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $29.67.

Institutional Investors Weigh In On Dropbox

Several institutional investors have recently modified their holdings of the company. Acadian Asset Management LLC lifted its position in shares of 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 purchasing an additional 157,148 shares during the last quarter. LSV Asset Management lifted its position in shares of 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 purchasing an additional 774,986 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of 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 purchasing an additional 605,258 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of 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 purchasing an additional 36,268 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec lifted its position in shares of 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 purchasing an additional 684,882 shares during the last quarter. 94.84% of the stock is owned by hedge funds and other institutional investors.

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.