Timothy Regan Sells 10,000 Shares of Dropbox, Inc. (NASDAQ:DBX) Stock

Dropbox, Inc. (NASDAQ:DBX) CFO Timothy Regan sold 10,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $29.65, for a total value of $296,500.00. Following the sale, the chief financial officer now directly owns 403,764 shares in the company, valued at approximately $11,971,602.60. This trade represents a 2.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Monday, December 30th, Timothy Regan sold 2,500 shares of Dropbox stock. The stock was sold at an average price of $30.38, for a total value of $75,950.00.
• On Friday, November 15th, Timothy Regan sold 2,500 shares of Dropbox stock. The shares were sold at an average price of $27.17, for a total transaction of $67,925.00.
• On Tuesday, October 29th, Timothy Regan sold 2,500 shares of Dropbox stock. The shares were sold at an average price of $25.71, for a total transaction of $64,275.00.
• On Tuesday, October 15th, Timothy Regan sold 2,500 shares of Dropbox stock. The stock was sold at an average price of $26.18, for a total transaction of $65,450.00.

Dropbox Trading Down 1.6 %

NASDAQ:DBX opened at $29.58 on Wednesday. The firm has a market cap of $9.16 billion, a P/E ratio of 17.10, a price-to-earnings-growth ratio of 1.68 and a beta of 0.61. The stock has a 50 day moving average of $28.59 and a two-hundred day moving average of $25.57. Dropbox, Inc. has a 12 month low of $20.68 and a 12 month high of $33.43.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group upped their price target on Dropbox from $27.00 to $30.00 and gave the stock a “hold” rating in a report on Monday. Two research analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Dropbox currently has a consensus rating of “Hold” and an average price target of $28.86.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in DBX. Capital Performance Advisors LLP acquired a new position in shares of Dropbox during the 3rd quarter worth approximately $28,000. V Square Quantitative Management LLC acquired a new position in Dropbox during the third quarter worth $31,000. UMB Bank n.a. increased its stake in shares of Dropbox by 2,479.4% in the 3rd quarter. UMB Bank n.a. now owns 1,754 shares of the company’s stock worth $45,000 after acquiring an additional 1,686 shares during the last quarter. Quarry LP raised its holdings in shares of Dropbox by 81.1% during the 2nd quarter. Quarry LP now owns 1,965 shares of the company’s stock worth $44,000 after acquiring an additional 880 shares during the period. Finally, GAMMA Investing LLC boosted its position in shares of Dropbox by 133.3% during the 3rd quarter. GAMMA Investing LLC now owns 2,888 shares of the company’s stock valued at $73,000 after acquiring an additional 1,650 shares during the last quarter. 94.84% of the stock is owned by institutional investors and hedge funds.

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.