Dropbox, Inc. (NASDAQ:DBX) CFO Sells $296,500.00 in Stock

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

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

• On Monday, December 30th, Timothy Regan sold 2,500 shares of Dropbox stock. The shares were 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 stock was sold at an average price of $27.17, for a total value of $67,925.00.
• On Tuesday, October 29th, Timothy Regan sold 2,500 shares of Dropbox stock. The stock was sold at an average price of $25.71, for a total value 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 value of $65,450.00.

Dropbox Trading Up 0.2 %

Shares of NASDAQ:DBX traded up $0.07 during trading on Monday, reaching $30.07. The company’s stock had a trading volume of 3,654,880 shares, compared to its average volume of 2,994,327. The stock has a market capitalization of $9.31 billion, a PE ratio of 17.38, a price-to-earnings-growth ratio of 1.68 and a beta of 0.61. Dropbox, Inc. has a 12 month low of $20.68 and a 12 month high of $33.43. The firm’s 50 day simple moving average is $28.59 and its two-hundred day simple moving average is $25.57.

Institutional Investors Weigh In On Dropbox

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. raised its holdings in Dropbox by 0.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 89,157 shares of the company’s stock valued at $2,267,000 after buying an additional 383 shares during the period. Quarry LP boosted its stake in Dropbox by 23.4% during the third quarter. Quarry LP now owns 2,424 shares of the company’s stock worth $62,000 after buying an additional 459 shares during the period. Harbor Capital Advisors Inc. increased its position in Dropbox by 13.2% during the third quarter. Harbor Capital Advisors Inc. now owns 7,956 shares of the company’s stock valued at $202,000 after acquiring an additional 926 shares during the last quarter. Covestor Ltd raised its stake in shares of Dropbox by 34.3% in the third quarter. Covestor Ltd now owns 4,043 shares of the company’s stock valued at $102,000 after acquiring an additional 1,033 shares during the period. Finally, Capital Performance Advisors LLP bought a new stake in shares of Dropbox in the 3rd quarter worth about $28,000. 94.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

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.