Insider Selling: Dropbox, Inc. (NASDAQ:DBX) CFO Sells $75,925.00 in Stock

Dropbox, Inc. (NASDAQ:DBX) CFO Timothy Regan sold 2,500 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $30.37, for a total value of $75,925.00. Following the completion of the sale, the chief financial officer now owns 401,264 shares of the company’s stock, valued at approximately $12,186,387.68. This trade represents a 0.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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

• On Thursday, January 2nd, Timothy Regan sold 10,000 shares of Dropbox stock. The shares were sold at an average price of $29.65, for a total value of $296,500.00.
• On Monday, December 30th, Timothy Regan sold 2,500 shares of Dropbox stock. The shares were sold at an average price of $30.38, for a total transaction of $75,950.00.
• On Friday, November 15th, Timothy Regan sold 2,500 shares of Dropbox stock. The stock was sold at an average price of $27.17, for a total transaction of $67,925.00.
• On Tuesday, October 29th, Timothy Regan sold 2,500 shares of Dropbox stock. The stock was sold at an average price of $25.71, for a total transaction of $64,275.00.

Dropbox Stock Performance

Shares of NASDAQ DBX opened at $30.59 on Monday. The company has a 50 day simple moving average of $29.19 and a two-hundred day simple moving average of $26.06. Dropbox, Inc. has a fifty-two week low of $20.68 and a fifty-two week high of $33.43. The company has a market capitalization of $9.47 billion, a price-to-earnings ratio of 17.68, a P/E/G ratio of 1.49 and a beta of 0.61.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group increased their target price on Dropbox from $27.00 to $30.00 and gave the stock a “hold” rating in a research report on Monday, January 6th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $27.50.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Pacer Advisors Inc. increased its stake in Dropbox by 4.5% during the 3rd quarter. Pacer Advisors Inc. now owns 7,788,652 shares of the company’s stock valued at $198,065,000 after purchasing an additional 333,245 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its position in shares of Dropbox by 6.2% during the third quarter. Jacobs Levy Equity Management Inc. now owns 6,239,493 shares of the company’s stock valued at $158,670,000 after acquiring an additional 365,893 shares in the last quarter. Geode Capital Management LLC raised its holdings in Dropbox by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 4,366,271 shares of the company’s stock worth $111,368,000 after acquiring an additional 25,893 shares during the last quarter. AQR Capital Management LLC lifted its position in Dropbox by 39.7% in the 2nd quarter. AQR Capital Management LLC now owns 3,021,962 shares of the company’s stock valued at $67,360,000 after acquiring an additional 859,233 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Dropbox by 8.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,796,238 shares of the company’s stock valued at $71,108,000 after purchasing an additional 228,685 shares during the last quarter. Hedge funds and other institutional investors own 94.84% of the company’s stock.

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.