Dropbox, Inc. (NASDAQ:DBX) CFO Sells $69,330.00 in Stock

Dropbox, Inc. (NASDAQ:DBX) CFO Timothy Regan sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $23.11, for a total value of $69,330.00. Following the transaction, the chief financial officer now owns 594,995 shares of the company’s stock, valued at approximately $13,750,334.45. The transaction was disclosed in a document filed with the SEC, which is available through this link.

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

• On Wednesday, March 27th, Timothy Regan sold 3,000 shares of Dropbox stock. The shares were sold at an average price of $24.36, for a total value of $73,080.00.
• On Friday, March 15th, Timothy Regan sold 3,000 shares of Dropbox stock. The shares were sold at an average price of $24.02, for a total value of $72,060.00.
• On Tuesday, January 30th, Timothy Regan sold 3,000 shares of Dropbox stock. The shares were sold at an average price of $32.50, for a total value of $97,500.00.

Dropbox Stock Up 1.0 %

DBX opened at $22.98 on Friday. The stock’s fifty day moving average is $24.73 and its two-hundred day moving average is $27.45. The company has a market capitalization of $7.90 billion, a P/E ratio of 17.41, a PEG ratio of 2.57 and a beta of 0.71. Dropbox, Inc. has a 52 week low of $19.55 and a 52 week 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 the consensus estimate of $0.26 by ($0.01). The firm 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%. Equities analysts anticipate that Dropbox, Inc. will post 1.14 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC purchased a new position in shares of Dropbox in the 4th quarter valued at $25,000. Contravisory Investment Management Inc. purchased a new position in Dropbox during the 4th quarter worth $26,000. Harbour Investments Inc. purchased a new position in Dropbox during the 4th quarter worth $29,000. Fifth Third Bancorp grew its stake in Dropbox by 424.2% during the 3rd quarter. Fifth Third Bancorp now owns 1,085 shares of the company’s stock worth $30,000 after buying an additional 878 shares during the last quarter. Finally, Principal Securities Inc. purchased a new position in Dropbox during the 4th quarter worth $34,000. 94.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. The Goldman Sachs Group lowered Dropbox from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $26.00 to $24.00 in a research note on Friday, February 16th. Citigroup lowered their price objective on Dropbox from $31.00 to $27.00 and set a “neutral” rating for the company in a research note on Friday, March 22nd. JMP Securities lowered Dropbox from an “outperform” rating to a “market perform” rating in a research note on Friday, February 16th. JPMorgan Chase & Co. lowered Dropbox from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $33.00 to $30.00 in a research note on Friday, February 16th. Finally, Bank of America lowered Dropbox from a “buy” rating to an “underperform” rating and decreased their price target for the stock from $34.00 to $28.00 in a research note on Friday, February 16th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Dropbox has a consensus rating of “Hold” and a consensus target price of $29.78.

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.