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 the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $24.35, for a total value of $60,875.00. Following the completion of the sale, the chief financial officer now owns 485,724 shares of the company’s stock, valued at $11,827,379.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Monday, September 16th, Timothy Regan sold 400 shares of Dropbox stock. The stock was sold at an average price of $25.00, for a total transaction of $10,000.00.
• On Monday, July 15th, Timothy Regan sold 3,000 shares of Dropbox stock. The shares were sold at an average price of $22.76, for a total transaction of $68,280.00.
• On Monday, July 1st, Timothy Regan sold 13,000 shares of Dropbox stock. The stock was sold at an average price of $22.33, for a total value of $290,290.00.

Dropbox Stock Down 1.0 %

NASDAQ:DBX traded down $0.25 on Tuesday, hitting $24.63. The stock had a trading volume of 2,317,822 shares, compared to its average volume of 3,903,976. The company has a market cap of $8.13 billion, a PE ratio of 16.34, a P/E/G ratio of 1.51 and a beta of 0.61. Dropbox, Inc. has a 52 week low of $20.68 and a 52 week high of $33.43. The business’s fifty day moving average is $23.39 and its 200 day moving average is $23.21.

Dropbox (NASDAQ:DBX) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.08. The business had revenue of $634.50 million during the quarter, compared to analyst estimates of $630.10 million. Dropbox had a negative return on equity of 161.78% and a net margin of 23.06%. Dropbox’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.28 EPS. Equities analysts predict that Dropbox, Inc. will post 1.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Dropbox

A number of institutional investors have recently added to or reduced their stakes in the company. Pacer Advisors Inc. boosted its stake in shares of Dropbox by 63.0% in the 2nd quarter. Pacer Advisors Inc. now owns 7,455,407 shares of the company’s stock worth $167,523,000 after buying an additional 2,881,981 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Dropbox by 63.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,536,412 shares of the company’s stock valued at $56,994,000 after purchasing an additional 986,942 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of Dropbox by 39.7% in the 2nd quarter. AQR Capital Management LLC now owns 3,021,962 shares of the company’s stock worth $67,360,000 after buying an additional 859,233 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Dropbox by 68.2% in the 1st quarter. Russell Investments Group Ltd. now owns 1,949,274 shares of the company’s stock worth $47,397,000 after purchasing an additional 790,191 shares during the period. Finally, Norges Bank purchased a new stake in Dropbox in the fourth quarter worth $19,361,000. 94.84% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on DBX. Citigroup dropped their target price on shares of Dropbox from $26.00 to $25.00 and set a “neutral” rating for the company in a report on Wednesday, June 26th. UBS Group decreased their target price on shares of Dropbox from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Dropbox presently has an average rating of “Hold” and a consensus target price of $28.67.

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.