Dropbox (NASDAQ:DBX) CFO Sells $44,460.00 in Stock

Dropbox, Inc. (NASDAQ:DBX) CFO Timothy Regan sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, November 28th. The stock was sold at an average price of $29.64, for a total value of $44,460.00. Following the sale, the chief financial officer directly owned 439,147 shares of the company’s stock, valued at $13,016,317.08. The trade was a 0.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Friday, November 14th, Timothy Regan sold 1,500 shares of Dropbox stock. The shares were sold at an average price of $30.25, for a total transaction of $45,375.00.
• On Thursday, October 30th, Timothy Regan sold 1,500 shares of Dropbox stock. The stock was sold at an average price of $28.40, for a total transaction of $42,600.00.
• 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 value of $42,930.00.
• 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.

Dropbox Stock Performance

NASDAQ DBX opened at $29.78 on Friday. Dropbox, Inc. has a twelve month low of $24.42 and a twelve month high of $33.33. The stock has a market cap of $7.71 billion, a PE ratio of 16.82, a PEG ratio of 2.56 and a beta of 0.63. The firm has a 50-day simple moving average of $29.53 and a 200 day simple moving average of $28.90.

Dropbox (NASDAQ:DBX) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.10. Dropbox had a negative return on equity of 49.51% and a net margin of 19.87%.The firm had revenue of $634.40 million for the quarter, compared to analyst estimates of $623.59 million. During the same period in the previous year, the company posted $0.60 earnings per share. The company’s quarterly revenue was down .7% compared to the same quarter last year. Research analysts forecast that Dropbox, Inc. will post 1.64 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. UBS Group lowered shares of Dropbox from a “neutral” rating to a “sell” rating and decreased their target price for the company from $29.00 to $27.00 in a research report on Thursday, September 18th. Royal Bank Of Canada raised their price objective on shares of Dropbox from $35.00 to $38.00 and gave the stock an “outperform” rating in a report on Friday, November 7th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Dropbox in a report on Wednesday, October 8th. Finally, Wall Street Zen upgraded shares of Dropbox from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $31.75.

Institutional Trading of Dropbox

A number of institutional investors and hedge funds have recently modified their holdings of DBX. Rossby Financial LCC grew its holdings in Dropbox by 128.5% during the third quarter. Rossby Financial LCC now owns 937 shares of the company’s stock valued at $28,000 after purchasing an additional 527 shares during the period. Elequin Capital LP boosted its position in shares of Dropbox by 71.0% during the first quarter. Elequin Capital LP now owns 1,130 shares of the company’s stock worth $30,000 after purchasing an additional 469 shares in the last quarter. Neo Ivy Capital Management acquired a new position in shares of Dropbox in the 2nd quarter valued at $30,000. Palisade Asset Management LLC bought a new stake in shares of Dropbox in the 3rd quarter valued at $30,000. Finally, First Horizon Corp acquired a new stake in Dropbox during the 3rd quarter worth $31,000. 94.84% of the stock is owned by 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.