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

Key Points

• Dropbox CFO Timothy Regan sold 2,500 shares of the company's stock on August 15th for a total of $69,875, decreasing his holdings to 482,121 shares.
• Recently, Dropbox reported $0.71 earnings per share for the quarter, exceeding analysts' expectations of $0.63, despite a 1.4% year-over-year revenue decline.
• Brokerages have mixed views on Dropbox, with UBS lowering its price target from $31 to $29, while Citigroup raised its target from $30 to $32, both maintaining a "neutral" rating.

Dropbox, Inc. (NASDAQ:DBX - Get Free Report) CFO Timothy Regan sold 2,500 shares of the firm's stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $27.95, for a total transaction of $69,875.00. Following the completion of the sale, the chief financial officer owned 482,121 shares in the company, valued at $13,475,281.95. This represents a 0.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

• 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 stock was sold at an average price of $26.83, for a total transaction of $67,075.00.
• On Tuesday, July 1st, Timothy Regan sold 10,000 shares of Dropbox stock. The stock was sold at an average price of $27.94, for a total transaction of $279,400.00.
• On Monday, June 30th, Timothy Regan sold 2,500 shares of Dropbox stock. The stock was sold at an average price of $28.40, for a total transaction of $71,000.00.
• On Friday, June 13th, Timothy Regan sold 2,500 shares of Dropbox stock. The stock was sold at an average price of $28.10, for a total transaction of $70,250.00.
• On Friday, May 30th, Timothy Regan sold 2,500 shares of Dropbox stock. The shares were sold at an average price of $28.78, for a total transaction of $71,950.00.

Dropbox Stock Performance

NASDAQ DBX traded up $0.39 during mid-day trading on Tuesday, reaching $28.29. 4,018,675 shares of the stock were exchanged, compared to its average volume of 3,454,919. The business's 50 day moving average is $27.66 and its 200-day moving average is $28.04. Dropbox, Inc. has a 1 year low of $22.72 and a 1 year high of $33.33. The company has a market capitalization of $7.63 billion, a P/E ratio of 17.25, a P/E/G ratio of 3.75 and a beta of 0.64.

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

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on DBX. UBS Group dropped their price target on shares of Dropbox from $31.00 to $29.00 and set a "neutral" rating for the company in a research report on Friday, August 8th. Citigroup boosted their price objective on shares of Dropbox from $30.00 to $32.00 and gave the stock a "neutral" rating in a research report on Friday, May 9th. Three investment analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $30.33.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DBX. LPL Financial LLC increased its stake in shares of Dropbox by 31.2% during the 4th quarter. LPL Financial LLC now owns 24,506 shares of the company's stock valued at $736,000 after acquiring an additional 5,823 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Dropbox by 31.9% during the 4th quarter. Envestnet Asset Management Inc. now owns 39,526 shares of the company's stock valued at $1,187,000 after acquiring an additional 9,570 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Dropbox during the 4th quarter valued at about $2,511,000. First Trust Advisors LP increased its stake in shares of Dropbox by 12.2% during the 4th quarter. First Trust Advisors LP now owns 2,415,093 shares of the company's stock valued at $72,549,000 after acquiring an additional 262,871 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Dropbox by 3.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,646,502 shares of the company's stock worth $79,505,000 after purchasing an additional 82,284 shares in the last quarter. 94.84% of the stock is currently owned by hedge funds and other institutional investors.

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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