Insider Selling: Dropbox, Inc. (NASDAQ:DBX) CFO Sells 2,500 Shares of Stock

Dropbox, Inc. (NASDAQ:DBX) CFO Timothy Regan sold 2,500 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $30.37, for a total value of $75,925.00. Following the completion of the transaction, the chief financial officer now directly owns 401,264 shares of the company’s stock, valued at $12,186,387.68. This trade represents a 0.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Thursday, January 2nd, Timothy Regan sold 10,000 shares of Dropbox stock. The stock was 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 shares were 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 stock was 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 stock was sold at an average price of $25.71, for a total value of $64,275.00.

Dropbox Trading Up 0.6 %

Shares of DBX traded up $0.17 on Friday, reaching $30.59. 1,431,958 shares of the company’s stock were exchanged, compared to its average volume of 2,502,614. Dropbox, Inc. has a 12 month low of $20.68 and a 12 month high of $33.43. The stock has a market capitalization of $9.47 billion, a P/E ratio of 17.68, a price-to-earnings-growth ratio of 1.49 and a beta of 0.61. The business has a 50 day moving average price of $29.12 and a two-hundred day moving average price of $25.96.

Institutional Trading of Dropbox

Several hedge funds have recently bought and sold shares of DBX. Pacer Advisors Inc. boosted its holdings in shares of Dropbox by 4.5% in the 3rd quarter. Pacer Advisors Inc. now owns 7,788,652 shares of the company’s stock valued at $198,065,000 after buying an additional 333,245 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its position in shares of Dropbox by 6.2% in 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 purchasing an additional 365,893 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Dropbox by 0.6% during the 3rd 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 period. AQR Capital Management LLC raised its holdings in Dropbox by 39.7% in the 2nd quarter. AQR Capital Management LLC now owns 3,021,962 shares of the company’s stock valued at $67,360,000 after acquiring an additional 859,233 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Dropbox by 8.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,796,238 shares of the company’s stock worth $71,108,000 after acquiring an additional 228,685 shares during the period. 94.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group raised their price objective on Dropbox from $27.00 to $30.00 and gave the stock a “hold” rating in a research report on Monday, January 6th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Dropbox has a consensus rating of “Hold” and a consensus target price 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.