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

Dropbox, Inc. (NASDAQ:DBX) CFO Timothy Regan sold 2,500 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $27.17, for a total value of $67,925.00. Following the sale, the chief financial officer now owns 436,264 shares in the company, valued at approximately $11,853,292.88. This trade represents a 0.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

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

• 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.
• On Thursday, September 19th, Timothy Regan sold 3,177 shares of Dropbox stock. The stock was sold at an average price of $25.00, for a total value of $79,425.00.
• On Monday, September 16th, Timothy Regan sold 400 shares of Dropbox stock. The stock was sold at an average price of $25.00, for a total value of $10,000.00.
• On Friday, September 13th, Timothy Regan sold 2,500 shares of Dropbox stock. The stock was sold at an average price of $24.35, for a total value of $60,875.00.

Dropbox Stock Performance

Shares of DBX opened at $26.67 on Wednesday. Dropbox, Inc. has a 52-week low of $20.68 and a 52-week high of $33.43. The business’s 50 day moving average price is $25.82 and its two-hundred day moving average price is $23.91. The firm has a market cap of $8.26 billion, a PE ratio of 15.42, a price-to-earnings-growth ratio of 1.72 and a beta of 0.61.

Hedge Funds Weigh In On Dropbox

Several institutional investors have recently added to or reduced their stakes in DBX. Pacer Advisors Inc. lifted its stake in Dropbox by 63.0% in the second quarter. Pacer Advisors Inc. now owns 7,455,407 shares of the company’s stock valued at $167,523,000 after buying an additional 2,881,981 shares during the period. Dimensional Fund Advisors LP lifted its stake in Dropbox by 63.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,536,412 shares of the company’s stock valued at $56,994,000 after buying an additional 986,942 shares during the period. AQR Capital Management LLC lifted its stake in Dropbox by 39.7% in the second quarter. AQR Capital Management LLC now owns 3,021,962 shares of the company’s stock valued at $67,360,000 after buying an additional 859,233 shares during the period. Distillate Capital Partners LLC acquired a new position in shares of Dropbox during the second quarter worth approximately $14,291,000. Finally, Renaissance Technologies LLC raised its position in shares of Dropbox by 5.2% during the second quarter. Renaissance Technologies LLC now owns 10,314,233 shares of the company’s stock worth $231,761,000 after purchasing an additional 506,200 shares during the period. 94.84% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, UBS Group cut their price objective on Dropbox from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $28.67.

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.