Dropbox Inc (DBX) Insider Timothy Regan Sells 1,000 Shares of Stock
Dropbox Inc (NASDAQ:DBX) insider Timothy Regan sold 1,000 shares of Dropbox stock in a transaction on Wednesday, October 17th. The shares were sold at an average price of $24.89, for a total value of $24,890.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Timothy Regan also recently made the following trade(s):
- On Wednesday, September 19th, Timothy Regan sold 1,000 shares of Dropbox stock. The shares were sold at an average price of $26.53, for a total value of $26,530.00.
Dropbox stock opened at $23.38 on Friday. Dropbox Inc has a 1-year low of $22.07 and a 1-year high of $43.50. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.12.
A number of institutional investors have recently bought and sold shares of the business. Sumitomo Mitsui Asset Management Company LTD acquired a new stake in shares of Dropbox during the third quarter worth about $37,170,000. Morgan Stanley increased its position in shares of Dropbox by 1,217.7% during the second quarter. Morgan Stanley now owns 1,241,556 shares of the company’s stock worth $40,252,000 after purchasing an additional 1,147,333 shares in the last quarter. Partner Fund Management L.P. increased its position in shares of Dropbox by 124.5% during the second quarter. Partner Fund Management L.P. now owns 1,529,689 shares of the company’s stock worth $49,593,000 after purchasing an additional 848,387 shares in the last quarter. FMR LLC increased its position in shares of Dropbox by 30.0% during the second quarter. FMR LLC now owns 2,351,409 shares of the company’s stock worth $76,233,000 after purchasing an additional 542,859 shares in the last quarter. Finally, Federated Investors Inc. PA increased its position in shares of Dropbox by 24.7% during the second quarter. Federated Investors Inc. PA now owns 1,618,714 shares of the company’s stock worth $52,479,000 after purchasing an additional 320,380 shares in the last quarter. Institutional investors own 13.83% of the company’s stock.
A number of research analysts recently issued reports on DBX shares. Jefferies Financial Group lifted their target price on Dropbox to $37.00 and gave the company a “buy” rating in a report on Friday, August 10th. Zacks Investment Research cut Dropbox from a “buy” rating to a “hold” rating in a research note on Tuesday, August 14th. Nomura upgraded Dropbox from a “reduce” rating to a “neutral” rating and raised their price target for the company from $21.00 to $25.00 in a research note on Tuesday, October 2nd. Monness Crespi & Hardt started coverage on Dropbox in a research note on Monday, August 27th. They issued a “neutral” rating on the stock. Finally, Royal Bank of Canada upgraded Dropbox from a “sector perform” rating to an “outperform” rating and set a $33.00 price target on the stock in a research note on Friday, August 10th. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $34.57.
Dropbox Inc provides a collaboration platform worldwide. Its platform allows individuals, teams, and organizations to create, access, and share content online. The company was formerly known as Evenflow, Inc and changed its name to Dropbox, Inc in October 2009. Dropbox Inc has strategic partnership with Zoom Video Communications, Inc Dropbox Inc was founded in 2007 and is headquartered in San Francisco, California.
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