Insider Selling: Dropbox, Inc. (NASDAQ:DBX) CFO Sells 10,000 Shares of Stock

Dropbox, Inc. (NASDAQ:DBX) CFO Timothy Regan sold 10,000 shares of Dropbox stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $29.65, for a total value of $296,500.00. Following the completion of the sale, the chief financial officer now directly owns 403,764 shares in the company, valued at approximately $11,971,602.60. This represents a 2.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, 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 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 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 stock was 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 shares were sold at an average price of $26.18, for a total value of $65,450.00.

Dropbox Price Performance

Shares of DBX opened at $29.74 on Thursday. The firm has a 50-day moving average of $28.66 and a 200-day moving average of $25.63. The company has a market cap of $9.21 billion, a PE ratio of 17.19, a price-to-earnings-growth ratio of 1.68 and a beta of 0.61. Dropbox, Inc. has a one year low of $20.68 and a one year high of $33.43.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Dropbox

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Assenagon Asset Management S.A. boosted its stake in shares of Dropbox by 0.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 89,157 shares of the company’s stock worth $2,267,000 after acquiring an additional 383 shares during the period. Quarry LP lifted its holdings in Dropbox by 23.4% during the 3rd quarter. Quarry LP now owns 2,424 shares of the company’s stock valued at $62,000 after purchasing an additional 459 shares during the last quarter. Harbor Capital Advisors Inc. boosted 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 worth $202,000 after purchasing an additional 926 shares during the period. Covestor Ltd increased its holdings 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 purchasing an additional 1,033 shares during the last quarter. Finally, Capital Performance Advisors LLP acquired a new position in shares of Dropbox in the third quarter valued at $28,000. Institutional investors own 94.84% of the company’s stock.

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.