Insider Selling: Dropbox, Inc. (NASDAQ:DBX) CFO Sells 2,500 Shares of Stock

Dropbox, Inc. (NASDAQ:DBX) CFO Timothy Regan sold 2,500 shares of Dropbox stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $26.94, for a total transaction of $67,350.00. Following the sale, the chief financial officer now directly owns 565,068 shares of the company’s stock, valued at $15,222,931.92. This trade represents a 0.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Friday, March 28th, Timothy Regan sold 2,500 shares of Dropbox stock. The stock was sold at an average price of $26.57, for a total value of $66,425.00.
• On Friday, February 7th, Timothy Regan sold 2,500 shares of Dropbox stock. The shares were sold at an average price of $32.19, for a total value of $80,475.00.
• On Thursday, January 30th, Timothy Regan sold 2,500 shares of Dropbox stock. The shares were sold at an average price of $32.17, for a total value of $80,425.00.

Dropbox Price Performance

NASDAQ DBX opened at $27.11 on Friday. Dropbox, Inc. has a fifty-two week low of $20.68 and a fifty-two week high of $33.33. The stock’s 50-day moving average is $27.28 and its two-hundred day moving average is $28.27. The firm has a market cap of $8.18 billion, a P/E ratio of 19.23, a price-to-earnings-growth ratio of 1.70 and a beta of 0.75.

Dropbox (NASDAQ:DBX) last posted its earnings results on Thursday, February 20th. The company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.11). Dropbox had a negative return on equity of 132.63% and a net margin of 17.75%. The company had revenue of $643.60 million during the quarter, compared to analyst estimates of $638.61 million. On average, equities analysts expect that Dropbox, Inc. will post 1.64 EPS for the current year.

Institutional Trading of Dropbox

Several large investors have recently modified their holdings of DBX. HighTower Advisors LLC boosted its holdings in Dropbox by 68.2% during the third quarter. HighTower Advisors LLC now owns 26,576 shares of the company’s stock valued at $683,000 after acquiring an additional 10,777 shares during the period. M&T Bank Corp acquired a new position in shares of Dropbox during the 3rd quarter worth about $229,000. Geode Capital Management LLC boosted its stake in Dropbox by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 4,366,271 shares of the company’s stock valued at $111,368,000 after purchasing an additional 25,893 shares during the period. Sanctuary Advisors LLC acquired a new stake in Dropbox in the 3rd quarter valued at approximately $268,000. Finally, American Trust bought a new position in Dropbox in the 3rd quarter worth approximately $271,000. 94.84% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group raised their price objective on shares of Dropbox from $27.00 to $30.00 and gave the company a “hold” rating in a research report on Monday, January 6th.

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.