Timothy Regan Sells 2,500 Shares of Dropbox, Inc. (NASDAQ:DBX) Stock

Dropbox, Inc. (NASDAQ:DBX - Get Free Report) CFO Timothy Regan sold 2,500 shares of the company's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $28.78, for a total value of $71,950.00. Following the sale, the chief financial officer now owns 531,094 shares in the company, valued at $15,284,885.32. The trade was a 0.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• On Thursday, May 15th, Timothy Regan sold 2,500 shares of Dropbox stock. The stock was sold at an average price of $29.53, for a total value of $73,825.00.
• On Wednesday, April 30th, Timothy Regan sold 2,500 shares of Dropbox stock. The stock was sold at an average price of $28.29, for a total value of $70,725.00.
• On Tuesday, April 15th, Timothy Regan sold 2,500 shares of Dropbox stock. The stock was sold at an average price of $26.94, for a total value of $67,350.00.
• On Friday, March 28th, Timothy Regan sold 2,500 shares of Dropbox stock. The shares were sold at an average price of $26.57, for a total value of $66,425.00.

Dropbox Trading Up 1.1%

NASDAQ:DBX traded up $0.31 on Thursday, hitting $29.51. The company's stock had a trading volume of 3,745,347 shares, compared to its average volume of 3,470,024. The stock has a fifty day moving average of $28.13 and a two-hundred day moving average of $28.82. The firm has a market capitalization of $8.31 billion, a P/E ratio of 20.93, a price-to-earnings-growth ratio of 1.70 and a beta of 0.68. Dropbox, Inc. has a one year low of $20.68 and a one year high of $33.33.

Dropbox (NASDAQ:DBX - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.08. Dropbox had a negative return on equity of 132.63% and a net margin of 17.75%. The firm had revenue of $624.70 million for the quarter, compared to analyst estimates of $619.56 million. During the same quarter in the prior year, the company earned $0.58 earnings per share. The business's revenue for the quarter was down 1.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Dropbox, Inc. will post 1.64 EPS for the current year.

Hedge Funds Weigh In On Dropbox

Several institutional investors and hedge funds have recently made changes to their positions in DBX. Janney Montgomery Scott LLC acquired a new position in shares of Dropbox in the fourth quarter valued at approximately $656,000. Fifth Third Bancorp grew its position in shares of Dropbox by 35.6% in the fourth quarter. Fifth Third Bancorp now owns 1,798 shares of the company's stock valued at $54,000 after purchasing an additional 472 shares during the last quarter. Blue Trust Inc. grew its position in shares of Dropbox by 23.2% in the fourth quarter. Blue Trust Inc. now owns 3,616 shares of the company's stock valued at $109,000 after purchasing an additional 682 shares during the last quarter. Optas LLC acquired a new position in shares of Dropbox in the fourth quarter valued at approximately $203,000. Finally, Clay Northam Wealth Management LLC acquired a new position in shares of Dropbox in the fourth quarter valued at approximately $206,000. Institutional investors and hedge funds own 94.84% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on DBX shares. UBS Group upped their price objective on Dropbox from $30.00 to $31.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Citigroup upped their price objective on Dropbox from $30.00 to $32.00 and gave the company a "neutral" rating in a research note on Friday, May 9th.

Dropbox Company Profile

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.