Dropbox (NASDAQ:DBX) CAO Sells $36,450.40 in Stock

Dropbox, Inc. (NASDAQ:DBX) CAO Sarah Elizabeth Schubach sold 1,415 shares of the business’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $25.76, for a total value of $36,450.40. Following the completion of the transaction, the chief accounting officer owned 83,489 shares in the company, valued at $2,150,676.64. This trade represents a 1.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Sarah Elizabeth Schubach also recently made the following trade(s):

• On Monday, March 2nd, Sarah Elizabeth Schubach sold 1,415 shares of Dropbox stock. The stock was sold at an average price of $24.76, for a total value of $35,035.40.
• On Wednesday, February 18th, Sarah Elizabeth Schubach sold 1,416 shares of Dropbox stock. The stock was sold at an average price of $24.49, for a total value of $34,677.84.
• On Thursday, January 15th, Sarah Elizabeth Schubach sold 1,168 shares of Dropbox stock. The shares were sold at an average price of $26.84, for a total value of $31,349.12.
• On Monday, December 29th, Sarah Elizabeth Schubach sold 1,168 shares of Dropbox stock. The shares were sold at an average price of $27.88, for a total value of $32,563.84.

Dropbox Stock Performance

Shares of NASDAQ DBX opened at $25.01 on Friday. The business has a 50 day simple moving average of $25.54 and a 200 day simple moving average of $28.01. Dropbox, Inc. has a 52 week low of $23.63 and a 52 week high of $32.40. The stock has a market cap of $6.03 billion, a price-to-earnings ratio of 13.45, a PEG ratio of 1.78 and a beta of 0.63.

Dropbox (NASDAQ:DBX) last issued its quarterly earnings data on Thursday, February 19th. The company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.02. The firm had revenue of $636.20 million for the quarter, compared to analyst estimates of $627.83 million. Dropbox had a net margin of 20.17% and a negative return on equity of 37.47%. The company’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.73 earnings per share. On average, analysts predict that Dropbox, Inc. will post 1.64 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Dropbox from $29.00 to $25.00 and set a “neutral” rating for the company in a research note on Friday, February 20th. UBS Group lowered their target price on shares of Dropbox from $27.00 to $23.00 and set a “sell” rating on the stock in a research report on Friday, February 20th. Wall Street Zen lowered Dropbox from a “buy” rating to a “hold” rating in a report on Friday, January 23rd. Royal Bank Of Canada reduced their price target on Dropbox from $35.00 to $30.00 and set an “outperform” rating for the company in a research report on Friday, February 20th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Dropbox in a report on Wednesday, January 21st. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $27.50.

Institutional Trading of Dropbox

A number of institutional investors and hedge funds have recently modified their holdings of the company. Rossby Financial LCC grew its stake in Dropbox by 128.5% in the 3rd quarter. Rossby Financial LCC now owns 937 shares of the company’s stock valued at $28,000 after buying an additional 527 shares during the last quarter. Palisade Asset Management LLC acquired a new position in Dropbox during the 3rd quarter worth $30,000. First Horizon Corp acquired a new position in Dropbox during the 3rd quarter worth $31,000. Neo Ivy Capital Management bought a new stake in Dropbox during the second quarter valued at about $30,000. Finally, Kestra Advisory Services LLC bought a new stake in Dropbox during the fourth quarter valued at about $31,000. 94.84% of the stock is currently owned by institutional investors and hedge funds.

Dropbox Company Profile

Dropbox, Inc (NASDAQ: DBX) is a leading provider of cloud-based file storage, collaboration, and productivity tools. Founded in 2007 and headquartered in San Francisco, California, the company offers a suite of services designed to help individuals and organizations securely store, share, and manage digital content. Dropbox has grown from a simple file-syncing application into an integrated collaboration platform used by millions of customers around the globe.

At its core, Dropbox provides cloud storage plans tailored for consumers and businesses.