Dropbox, Inc. (NASDAQ:DBX – Get Free Report) CFO Timothy Regan sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $23.11, for a total transaction of $69,330.00. Following the sale, the chief financial officer now owns 594,995 shares in the company, valued at approximately $13,750,334.45. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
Timothy Regan also recently made the following trade(s):
- On Wednesday, March 27th, Timothy Regan sold 3,000 shares of Dropbox stock. The stock was sold at an average price of $24.36, for a total transaction of $73,080.00.
- 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 DBX stock traded down $0.14 on Wednesday, reaching $22.80. The company’s stock had a trading volume of 3,164,613 shares, compared to its average volume of 3,980,114. The stock’s fifty day simple moving average is $25.13 and its 200-day simple moving average is $27.52. Dropbox, Inc. has a 1 year low of $19.55 and a 1 year high of $33.43. The company has a market capitalization of $7.84 billion, a price-to-earnings ratio of 17.27, a price-to-earnings-growth ratio of 2.58 and a beta of 0.71.
Analysts Set New Price Targets
A number of equities research analysts have commented on DBX shares. Citigroup decreased their target price on shares of Dropbox from $31.00 to $27.00 and set a “neutral” rating on the stock in a research note on Friday, March 22nd. KeyCorp lifted their price objective on shares of Dropbox from $32.00 to $37.00 and gave the company an “overweight” rating in a research report on Friday, January 19th. Bank of America cut shares of Dropbox from a “buy” rating to an “underperform” rating and reduced their price objective for the company from $34.00 to $28.00 in a research report on Friday, February 16th. JPMorgan Chase & Co. cut shares of Dropbox from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $33.00 to $30.00 in a research report on Friday, February 16th. Finally, The Goldman Sachs Group cut shares of Dropbox from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $26.00 to $24.00 in a research report 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. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $29.78.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC purchased a new position in Dropbox during the fourth quarter worth $25,000. Contravisory Investment Management Inc. purchased a new position in Dropbox during the fourth quarter worth $26,000. Harbour Investments Inc. purchased a new stake in shares of Dropbox during the fourth quarter valued at $29,000. Fifth Third Bancorp boosted its stake in shares of Dropbox by 424.2% during the third quarter. Fifth Third Bancorp now owns 1,085 shares of the company’s stock valued at $30,000 after purchasing an additional 878 shares during the period. Finally, Principal Securities Inc. purchased a new stake in shares of Dropbox during the fourth quarter valued at $34,000. 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.
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