Insider Selling: Dropbox, Inc. (NASDAQ:DBX) CFO Sells 13,000 Shares of Stock

Dropbox, Inc. (NASDAQ:DBX) CFO Timothy Regan sold 13,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $22.33, for a total transaction of $290,290.00. Following the completion of the transaction, the chief financial officer now owns 538,122 shares in the company, valued at approximately $12,016,264.26. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• On Wednesday, May 29th, Timothy Regan sold 3,000 shares of Dropbox stock. The shares were sold at an average price of $23.12, for a total transaction of $69,360.00.
• On Tuesday, April 30th, Timothy Regan sold 3,000 shares of Dropbox stock. The shares were sold at an average price of $23.60, for a total transaction of $70,800.00.
• On Monday, April 15th, Timothy Regan sold 3,000 shares of Dropbox stock. The shares were sold at an average price of $23.11, for a total transaction of $69,330.00.

Dropbox Price Performance

NASDAQ:DBX traded up $0.03 on Wednesday, reaching $22.63. 1,429,126 shares of the company’s stock were exchanged, compared to its average volume of 4,256,321. The firm has a market cap of $7.47 billion, a price-to-earnings ratio of 14.99, a P/E/G ratio of 1.56 and a beta of 0.65. Dropbox, Inc. has a 52 week low of $20.68 and a 52 week high of $33.43. The stock has a fifty day simple moving average of $22.66 and a 200-day simple moving average of $25.69.

Dropbox (NASDAQ:DBX) last issued its quarterly earnings results on Thursday, May 9th. The company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.13. Dropbox had a net margin of 20.50% and a negative return on equity of 148.13%. The business had revenue of $631.30 million for the quarter, compared to analysts’ expectations of $628.81 million. As a group, sell-side analysts predict that Dropbox, Inc. will post 1.26 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Dropbox by 0.4% in the first quarter. Vanguard Group Inc. now owns 27,379,532 shares of the company’s stock worth $665,323,000 after purchasing an additional 105,250 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in shares of Dropbox by 0.7% in the first quarter. Jacobs Levy Equity Management Inc. now owns 4,670,151 shares of the company’s stock worth $113,485,000 after purchasing an additional 32,600 shares during the last quarter. LSV Asset Management grew its holdings in shares of Dropbox by 3.7% in the first quarter. LSV Asset Management now owns 3,427,430 shares of the company’s stock worth $83,287,000 after purchasing an additional 121,700 shares during the last quarter. Acadian Asset Management LLC grew its holdings in shares of Dropbox by 18.7% in the first quarter. Acadian Asset Management LLC now owns 3,279,401 shares of the company’s stock worth $79,664,000 after purchasing an additional 517,052 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Dropbox by 3.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,990,186 shares of the company’s stock worth $88,151,000 after purchasing an additional 98,568 shares during the last quarter. Institutional investors own 94.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Citigroup dropped their target price on shares of Dropbox from $26.00 to $25.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 26th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $29.56.

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.