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

Key Points

• Timothy Regan, CFO of Dropbox, sold 2,500 shares at an average price of $27.98 on July 29th, totaling $69,950, reducing his ownership to 511,094 shares.
• Despite the recent share sale, Dropbox reported a positive quarterly earnings result of $0.70 EPS, surpassing estimates of $0.62, with quarterly revenue of $624.70 million.
• Dropbox shares traded down to $27.17, with a market cap of $7.65 billion and P/E ratio of 17.76, indicating a decrease in stock performance amidst ongoing trading activity.

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 Tuesday, July 29th. The shares were sold at an average price of $27.98, for a total value of $69,950.00. Following the completion of the transaction, the chief financial officer owned 511,094 shares in the company, valued at $14,300,410.12. This represents a 0.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• 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 value of $67,075.00.
• On Tuesday, July 1st, Timothy Regan sold 10,000 shares of Dropbox stock. The shares were sold at an average price of $27.94, for a total value 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 value 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 value of $70,250.00.
• On Friday, May 30th, Timothy Regan sold 2,500 shares of Dropbox stock. The stock was sold at an average price of $28.78, for a total value of $71,950.00.
• 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.

Dropbox Price Performance

Shares of DBX traded down $0.38 during mid-day trading on Thursday, hitting $27.17. The stock had a trading volume of 2,600,689 shares, compared to its average volume of 3,771,927. The firm has a market cap of $7.65 billion, a P/E ratio of 17.76, a PEG ratio of 10.99 and a beta of 0.65. The business has a fifty day moving average price of $28.17 and a 200-day moving average price of $28.46. Dropbox, Inc. has a 52 week low of $21.32 and a 52 week high of $33.33.

Dropbox (NASDAQ:DBX - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.08. Dropbox had a negative return on equity of 79.66% and a net margin of 18.50%. The company had revenue of $624.70 million during the quarter, compared to analysts' expectations of $619.56 million. During the same period in the previous year, the business earned $0.58 earnings per share. The firm's quarterly revenue was down 1.0% compared to the same quarter last year. As a group, research analysts expect that Dropbox, Inc. will post 1.64 earnings per share for the current fiscal year.

Institutional Trading of Dropbox

A number of hedge funds and other institutional investors have recently made changes to their positions in DBX. True Wealth Design LLC grew its position in Dropbox by 191.0% during the fourth quarter. True Wealth Design LLC now owns 1,036 shares of the company's stock worth $31,000 after buying an additional 680 shares in the last quarter. Elequin Capital LP grew its position in Dropbox by 71.0% during the first quarter. Elequin Capital LP now owns 1,130 shares of the company's stock worth $30,000 after buying an additional 469 shares in the last quarter. Brooklyn Investment Group grew its position in Dropbox by 250.3% during the first quarter. Brooklyn Investment Group now owns 1,387 shares of the company's stock worth $37,000 after buying an additional 991 shares in the last quarter. Cullen Frost Bankers Inc. purchased a new position in Dropbox during the second quarter worth about $41,000. Finally, Huntington National Bank grew its position in Dropbox by 768.9% during the fourth quarter. Huntington National Bank now owns 1,538 shares of the company's stock worth $46,000 after buying an additional 1,361 shares in the last quarter. 94.84% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on DBX. UBS Group lifted their price target on Dropbox from $30.00 to $31.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Citigroup boosted their target price 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.

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