Dropbox (NASDAQ:DBX) CFO Timothy Regan Sells 5,000 Shares

Key Points

• Dropbox CFO Timothy Regan sold 5,000 shares of the company's stock for a total of $148,800, reducing his ownership by 1.05% to 471,621 shares.
• Recent quarterly results showed Dropbox reporting an EPS of $0.71, exceeding analyst expectations, although revenue declined by 1.4% year-over-year.
• Several analysts have downgraded Dropbox's stock rating, with UBS lowering its target price from $29.00 to $27.00.

Dropbox, Inc. (NASDAQ:DBX - Get Free Report) CFO Timothy Regan sold 5,000 shares of Dropbox stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $29.76, for a total transaction of $148,800.00. Following the sale, the chief financial officer owned 471,621 shares in the company, valued at approximately $14,035,440.96. This represents a 1.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Tuesday, September 30th, Timothy Regan sold 1,500 shares of Dropbox stock. The shares were sold at an average price of $30.71, for a total transaction of $46,065.00.
• On Friday, August 15th, Timothy Regan sold 2,500 shares of Dropbox stock. The shares were sold at an average price of $27.95, for a total transaction of $69,875.00.
• On Tuesday, July 29th, Timothy Regan sold 2,500 shares of Dropbox stock. The shares were sold at an average price of $27.98, for a total transaction of $69,950.00.
• On Tuesday, July 15th, Timothy Regan sold 2,500 shares of Dropbox stock. The shares were sold at an average price of $26.83, for a total transaction of $67,075.00.

Dropbox Price Performance

Shares of NASDAQ DBX traded up $0.33 during midday trading on Thursday, reaching $29.85. 2,554,630 shares of the company traded hands, compared to its average volume of 3,722,266. Dropbox, Inc. has a 52 week low of $24.42 and a 52 week high of $33.33. The stock has a 50-day moving average price of $29.03 and a 200 day moving average price of $28.30. The company has a market cap of $8.06 billion, a price-to-earnings ratio of 18.20, a PEG ratio of 4.00 and a beta of 0.67.

Dropbox (NASDAQ:DBX - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.63 by $0.08. Dropbox had a net margin of 19.17% and a negative return on equity of 61.31%. The firm had revenue of $625.70 million for the quarter, compared to analysts' expectations of $618.60 million. During the same period in the previous year, the business earned $0.60 earnings per share. Dropbox's revenue for the quarter was down 1.4% compared to the same quarter last year. As a group, analysts expect that Dropbox, Inc. will post 1.64 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on DBX shares. Wall Street Zen cut shares of Dropbox from a "buy" rating to a "hold" rating in a research report on Friday, September 5th. UBS Group cut shares of Dropbox from a "neutral" rating to a "sell" rating and dropped their price target for the stock from $29.00 to $27.00 in a research report on Thursday, September 18th. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Dropbox presently has a consensus rating of "Reduce" and an average target price of $29.67.

Institutional Trading of Dropbox

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Osaic Holdings Inc. raised its holdings in Dropbox by 198.8% during the 2nd quarter. Osaic Holdings Inc. now owns 36,040 shares of the company's stock worth $1,029,000 after buying an additional 23,978 shares during the period. Centaurus Financial Inc. grew its stake in Dropbox by 3.0% during the 2nd quarter. Centaurus Financial Inc. now owns 38,168 shares of the company's stock valued at $1,092,000 after acquiring an additional 1,114 shares in the last quarter. Orion Porfolio Solutions LLC grew its stake in Dropbox by 37.3% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 48,912 shares of the company's stock valued at $1,399,000 after acquiring an additional 13,294 shares in the last quarter. Marex Group plc purchased a new position in Dropbox during the 2nd quarter valued at about $297,000. Finally, Advisory Services Network LLC grew its stake in Dropbox by 38.0% during the 2nd quarter. Advisory Services Network LLC now owns 32,095 shares of the company's stock valued at $872,000 after acquiring an additional 8,845 shares in the last quarter. Institutional investors and hedge funds 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.

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