Insider Selling: Dropbox, Inc. (NASDAQ:DBX) CFO Sells 3,000 Shares of Stock

Dropbox, Inc. (NASDAQ:DBX) CFO Timothy Regan sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $23.60, for a total value of $70,800.00. Following the transaction, the chief financial officer now owns 591,995 shares of the company’s stock, valued at approximately $13,971,082. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Monday, April 15th, Timothy Regan sold 3,000 shares of Dropbox stock. The stock was sold at an average price of $23.11, for a total value of $69,330.00.
• 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 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 transaction of $72,060.00.

Dropbox Price Performance

Shares of NASDAQ DBX traded up $0.10 during mid-day trading on Thursday, hitting $23.59. The company’s stock had a trading volume of 2,373,671 shares, compared to its average volume of 3,843,779. Dropbox, Inc. has a one year low of $19.55 and a one year high of $33.43. The company’s fifty day simple moving average is $23.77 and its 200-day simple moving average is $27.21. The stock has a market cap of $8.11 billion, a price-to-earnings ratio of 17.80, a price-to-earnings-growth ratio of 2.60 and a beta of 0.70.

Dropbox (NASDAQ:DBX) last issued its earnings results on Thursday, February 15th. The company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). Dropbox had a negative return on equity of 120.82% and a net margin of 18.13%. The firm had revenue of $635.00 million for the quarter, compared to analyst estimates of $630.77 million. On average, sell-side analysts predict that Dropbox, Inc. will post 1.14 EPS for the current year.

Institutional Investors Weigh In On Dropbox

Several institutional investors and hedge funds have recently bought and sold shares of DBX. Commonwealth Equity Services LLC increased its stake in shares of Dropbox by 30.6% in the 3rd quarter. Commonwealth Equity Services LLC now owns 23,371 shares of the company’s stock valued at $636,000 after acquiring an additional 5,480 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in shares of Dropbox by 37.5% during the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 139,320 shares of the company’s stock worth $3,794,000 after purchasing an additional 38,000 shares during the last quarter. Kingswood Wealth Advisors LLC bought a new position in Dropbox in the 3rd quarter worth approximately $62,000. Raymond James & Associates boosted its holdings in Dropbox by 10.8% in the 3rd quarter. Raymond James & Associates now owns 184,891 shares of the company’s stock worth $5,035,000 after buying an additional 18,087 shares during the period. Finally, Raymond James Financial Services Advisors Inc. boosted its holdings in Dropbox by 15.6% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 9,695 shares of the company’s stock valued at $264,000 after purchasing an additional 1,306 shares during the period. Institutional investors own 94.84% of the company’s stock.

Wall Street Analyst Weigh In

DBX has been the subject of several research reports. Citigroup dropped their price target on shares of Dropbox from $31.00 to $27.00 and set a “neutral” rating for the company in a research note on Friday, March 22nd. Bank of America lowered shares of Dropbox from a “buy” rating to an “underperform” rating and lowered their target price for the stock from $34.00 to $28.00 in a research report on Friday, February 16th. JMP Securities lowered shares of Dropbox from an “outperform” rating to a “market perform” rating in a research report on Friday, February 16th. The Goldman Sachs Group downgraded 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 note on Friday, February 16th. Finally, JPMorgan Chase & Co. downgraded shares of Dropbox from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $33.00 to $30.00 in a research note on Friday, February 16th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $29.78.

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.