Timothy Regan Sells 10,000 Shares of Dropbox, Inc. (NASDAQ:DBX) Stock

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

Dropbox Stock Performance

DBX traded up $0.07 during trading on Monday, hitting $30.07. The stock had a trading volume of 3,654,880 shares, compared to its average volume of 2,994,327. The stock has a 50 day simple moving average of $28.59 and a two-hundred day simple moving average of $25.57. The company has a market capitalization of $9.31 billion, a PE ratio of 17.38, a PEG ratio of 1.68 and a beta of 0.61. Dropbox, Inc. has a twelve month low of $20.68 and a twelve month high of $33.43.

Wall Street Analyst Weigh In

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

Institutional Trading of Dropbox

A number of institutional investors have recently made changes to their positions in DBX. Renaissance Technologies LLC raised its stake in Dropbox by 5.2% in the second quarter. Renaissance Technologies LLC now owns 10,314,233 shares of the company’s stock valued at $231,761,000 after buying an additional 506,200 shares during the last quarter. Pacer Advisors Inc. raised its position 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 purchasing an additional 333,245 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in Dropbox by 6.2% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 6,239,493 shares of the company’s stock worth $158,670,000 after purchasing an additional 365,893 shares in the last quarter. Geode Capital Management LLC grew its position in 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 purchasing an additional 25,893 shares during the last quarter. Finally, LSV Asset Management increased its stake in Dropbox by 9.2% during the 2nd quarter. LSV Asset Management now owns 3,742,292 shares of the company’s stock valued at $84,089,000 after purchasing an additional 314,862 shares in the last quarter. Institutional investors and hedge funds 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.