Timothy Regan Sells 1,500 Shares of Dropbox (NASDAQ:DBX) Stock

Key Points

• Timothy Regan, CFO of Dropbox, sold 1,500 shares of the company at an average price of $30.71, resulting in a total transaction of $46,065, decreasing his ownership by 0.31%.
• Dropbox's stock has recently seen fluctuations, with a current trading price of $29.85, up 1.1%, and the company has a market cap of $8.06 billion.
• Analysts have downgraded Dropbox's stock rating from "neutral" to "sell," with a revised price target down from $29.00 to $27.00.

Dropbox, Inc. (NASDAQ:DBX - Get Free Report) CFO Timothy Regan sold 1,500 shares of the firm's stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $30.71, for a total transaction of $46,065.00. Following the transaction, the chief financial officer directly owned 476,621 shares of the company's stock, valued at $14,637,030.91. The trade was a 0.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Wednesday, October 1st, Timothy Regan sold 5,000 shares of Dropbox stock. The stock was sold at an average price of $29.76, for a total transaction of $148,800.00.
• 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 value 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 stock was sold at an average price of $26.83, for a total value of $67,075.00.

Dropbox Stock Up 1.1%

DBX stock traded up $0.33 during midday trading on Thursday, reaching $29.85. 2,554,630 shares of the company's stock traded hands, compared to its average volume of 3,722,266. The company has a 50-day simple moving average of $29.03 and a two-hundred day simple moving average of $28.30. Dropbox, Inc. has a 1-year low of $24.42 and a 1-year high of $33.33. 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 announced its 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 negative return on equity of 61.31% and a net margin of 19.17%.The company had revenue of $625.70 million for the quarter, compared to analysts' expectations of $618.60 million. During the same quarter in the prior year, the business earned $0.60 earnings per share. The business's revenue for the quarter was down 1.4% on a year-over-year basis. Equities research analysts forecast that Dropbox, Inc. will post 1.64 EPS for the current year.

Institutional Investors Weigh In On Dropbox

A number of institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC grew its position in shares of Dropbox by 2,895.9% during the 1st quarter. GAMMA Investing LLC now owns 192,819 shares of the company's stock worth $5,150,000 after buying an additional 186,383 shares during the period. Parallel Advisors LLC grew its holdings in Dropbox by 5.6% during the first quarter. Parallel Advisors LLC now owns 7,411 shares of the company's stock valued at $198,000 after purchasing an additional 395 shares during the period. UMB Bank n.a. raised its holdings in Dropbox by 115.0% in the first quarter. UMB Bank n.a. now owns 2,501 shares of the company's stock worth $67,000 after purchasing an additional 1,338 shares during the period. Wedge Capital Management L L P NC raised its holdings in Dropbox by 1,640.3% in the first quarter. Wedge Capital Management L L P NC now owns 2,141,026 shares of the company's stock worth $57,187,000 after purchasing an additional 2,017,997 shares during the period. Finally, Farther Finance Advisors LLC grew its holdings in shares of Dropbox by 4,160.7% in the 1st quarter. Farther Finance Advisors LLC now owns 7,371 shares of the company's stock valued at $200,000 after buying an additional 7,198 shares during the period. 94.84% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

DBX has been the subject of a number of research analyst reports. UBS Group downgraded shares of Dropbox from a "neutral" rating to a "sell" rating and dropped their target price for the stock from $29.00 to $27.00 in a research note on Thursday, September 18th. Wall Street Zen cut shares of Dropbox from a "buy" rating to a "hold" rating in a research report on Friday, September 5th. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Reduce" and a consensus price target of $29.67.

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.

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