Dropbox (NASDAQ:DBX) CAO Sells $32,736.86 in Stock

Dropbox, Inc. (NASDAQ:DBX) CAO Sarah Elizabeth Schubach sold 1,066 shares of the firm’s stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $30.71, for a total transaction of $32,736.86. Following the completion of the sale, the chief accounting officer owned 105,723 shares of the company’s stock, valued at approximately $3,246,753.33. This trade represents a 1.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Dropbox Trading Down 1.5%

Shares of DBX opened at $29.41 on Friday. Dropbox, Inc. has a 12 month low of $24.42 and a 12 month high of $33.33. The stock has a fifty day moving average price of $29.10 and a 200-day moving average price of $28.35. The firm has a market cap of $7.94 billion, a PE ratio of 17.93, a P/E/G ratio of 3.89 and a beta of 0.67.

Dropbox (NASDAQ:DBX) last announced its earnings results on Thursday, August 7th. The company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.08. Dropbox had a negative return on equity of 61.31% and a net margin of 19.17%.The firm had revenue of $625.70 million for the quarter, compared to the consensus estimate of $618.60 million. During the same period in the previous year, the business earned $0.60 EPS. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. As a group, research analysts forecast that Dropbox, Inc. will post 1.64 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC boosted its holdings in Dropbox by 2,895.9% in the first quarter. GAMMA Investing LLC now owns 192,819 shares of the company’s stock valued at $5,150,000 after purchasing an additional 186,383 shares during the last quarter. Parallel Advisors LLC lifted its holdings in shares of Dropbox by 5.6% in the 1st quarter. Parallel Advisors LLC now owns 7,411 shares of the company’s stock valued at $198,000 after buying an additional 395 shares during the period. UMB Bank n.a. boosted its stake in shares of Dropbox by 115.0% in the first quarter. UMB Bank n.a. now owns 2,501 shares of the company’s stock worth $67,000 after buying an additional 1,338 shares during the last quarter. Wedge Capital Management L L P NC grew its holdings in Dropbox by 1,640.3% during the first quarter. Wedge Capital Management L L P NC now owns 2,141,026 shares of the company’s stock worth $57,187,000 after acquiring an additional 2,017,997 shares during the period. Finally, Farther Finance Advisors LLC raised its position in Dropbox by 4,160.7% during the first quarter. Farther Finance Advisors LLC now owns 7,371 shares of the company’s stock valued at $200,000 after acquiring an additional 7,198 shares in the last quarter. 94.84% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently commented on DBX shares. Wall Street Zen cut shares of Dropbox from a “buy” rating to a “hold” rating in a research note on Friday, September 5th. UBS Group downgraded shares of Dropbox from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $29.00 to $27.00 in a research note on Thursday, September 18th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Dropbox in a research report on Saturday, September 27th. Three equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Dropbox currently has a consensus rating of “Reduce” and an average price target of $29.67.

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.