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

Dropbox, Inc. (NASDAQ:DBX) CFO Timothy Regan sold 2,500 shares of the firm’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $32.19, for a total value of $80,475.00. Following the completion of the sale, the chief financial officer now directly owns 396,264 shares of the company’s stock, valued at approximately $12,755,738.16. This trade represents a 0.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Thursday, January 30th, Timothy Regan sold 2,500 shares of Dropbox stock. The shares were sold at an average price of $32.17, for a total value of $80,425.00.
• On Wednesday, January 15th, Timothy Regan sold 2,500 shares of Dropbox stock. The stock was sold at an average price of $30.37, for a total value of $75,925.00.
• On Thursday, January 2nd, Timothy Regan sold 10,000 shares of Dropbox stock. The shares were sold at an average price of $29.65, for a total value of $296,500.00.
• 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 transaction 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.

Dropbox Price Performance

Shares of Dropbox stock opened at $31.85 on Wednesday. The firm has a market cap of $9.86 billion, a price-to-earnings ratio of 18.41, a P/E/G ratio of 1.64 and a beta of 0.61. The stock has a 50-day simple moving average of $30.53 and a 200-day simple moving average of $27.08. Dropbox, Inc. has a 52-week low of $20.68 and a 52-week high of $33.33.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group lifted their target price on shares of Dropbox from $27.00 to $30.00 and gave the company a “hold” rating in a research note on Monday, January 6th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $27.50.

Institutional Trading of Dropbox

A number of institutional investors have recently added to or reduced their stakes in DBX. Pacer Advisors Inc. raised its holdings in shares of Dropbox by 4.5% during the 3rd quarter. Pacer Advisors Inc. now owns 7,788,652 shares of the company’s stock valued at $198,065,000 after purchasing an additional 333,245 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in Dropbox by 6.2% during the third quarter. Jacobs Levy Equity Management Inc. now owns 6,239,493 shares of the company’s stock valued at $158,670,000 after buying an additional 365,893 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Dropbox by 0.6% in the third quarter. Geode Capital Management LLC now owns 4,366,271 shares of the company’s stock worth $111,368,000 after buying an additional 25,893 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Dropbox by 4.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,914,005 shares of the company’s stock worth $87,537,000 after buying an additional 117,767 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its stake in shares of Dropbox by 6.1% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 2,355,762 shares of the company’s stock worth $59,907,000 after acquiring an additional 134,503 shares in the last quarter. 94.84% of the stock is currently owned by institutional investors and hedge funds.

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.