Sarah Elizabeth Schubach Sells 1,306 Shares of Dropbox (NASDAQ:DBX) Stock

Dropbox, Inc. (NASDAQ:DBX) CAO Sarah Elizabeth Schubach sold 1,306 shares of the firm’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $28.14, for a total value of $36,750.84. Following the completion of the sale, the chief accounting officer owned 131,120 shares in the company, valued at approximately $3,689,716.80. This represents a 0.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Thursday, April 30th, Sarah Elizabeth Schubach sold 1,769 shares of Dropbox stock. The stock was sold at an average price of $23.95, for a total value of $42,367.55.
• On Wednesday, April 15th, Sarah Elizabeth Schubach sold 1,415 shares of Dropbox stock. The shares were sold at an average price of $22.99, for a total value of $32,530.85.
• On Tuesday, March 31st, Sarah Elizabeth Schubach sold 1,416 shares of Dropbox stock. The stock was sold at an average price of $22.60, for a total value of $32,001.60.
• On Monday, March 16th, Sarah Elizabeth Schubach sold 1,415 shares of Dropbox stock. The stock was sold at an average price of $25.76, for a total value of $36,450.40.
• On Monday, March 2nd, Sarah Elizabeth Schubach sold 1,415 shares of Dropbox stock. The shares were 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 shares were sold at an average price of $24.49, for a total transaction of $34,677.84.

Dropbox Trading Up 0.1%

DBX stock opened at $27.56 on Thursday. Dropbox, Inc. has a twelve month low of $21.69 and a twelve month high of $32.40. The company’s 50 day moving average is $24.58 and its two-hundred day moving average is $26.40. The stock has a market cap of $6.43 billion, a P/E ratio of 15.06, a PEG ratio of 3.10 and a beta of 0.64.

Dropbox (NASDAQ:DBX) last issued its earnings results on Thursday, May 7th. The company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.05. The business had revenue of $629.50 million during the quarter, compared to analysts’ expectations of $620.56 million. Dropbox had a net margin of 18.71% and a negative return on equity of 30.01%. The company’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.70 EPS. On average, equities research analysts predict that Dropbox, Inc. will post 2.03 earnings per share for the current year.

Dropbox News Roundup

Here are the key news stories impacting Dropbox this week:

• Positive Sentiment: Dropbox’s latest quarterly results beat expectations on both earnings and revenue, reinforcing that the company is still producing steady profitability despite modest top-line growth.
• Positive Sentiment: Analysts have turned somewhat more upbeat, with Royal Bank of Canada raising its price target to $32 and Wall Street Zen upgrading the stock to buy, helping support sentiment around DBX.
• Neutral Sentiment: Several insiders, including CEO Andrew Houston, a director, CTO, and CAO, sold shares under pre-arranged 10b5-1 plans; some of the sales were tied to tax withholding on equity vesting, so the activity is not necessarily a negative fundamental signal. Article Title
• Neutral Sentiment: DBX is trading around the middle of its 52-week range, suggesting investors are balancing improving earnings execution against slower revenue growth and mixed analyst ratings. Article Title

Institutional Investors Weigh In On Dropbox

A number of institutional investors and hedge funds have recently made changes to their positions in the business. LSV Asset Management raised its holdings in Dropbox by 38.1% during the third quarter. LSV Asset Management now owns 11,613,642 shares of the company’s stock worth $350,848,000 after purchasing an additional 3,205,140 shares in the last quarter. Intech Investment Management LLC lifted its position in Dropbox by 117.3% in the third quarter. Intech Investment Management LLC now owns 407,958 shares of the company’s stock valued at $12,324,000 after purchasing an additional 220,176 shares during the period. Arbejdsmarkedets Tillaegspension purchased a new stake in Dropbox in the 4th quarter valued at approximately $22,050,000. Nisa Investment Advisors LLC boosted its holdings in Dropbox by 57.9% in the 4th quarter. Nisa Investment Advisors LLC now owns 223,706 shares of the company’s stock valued at $6,219,000 after purchasing an additional 82,053 shares in the last quarter. Finally, Tudor Investment Corp ET AL increased its position in Dropbox by 3,963.5% during the 3rd quarter. Tudor Investment Corp ET AL now owns 312,892 shares of the company’s stock worth $9,452,000 after purchasing an additional 305,192 shares during the period. 94.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on DBX shares. William Blair reaffirmed an “underperform” rating on shares of Dropbox in a report on Monday, March 23rd. Weiss Ratings reissued a “hold (c)” rating on shares of Dropbox in a research report on Monday, May 4th. Citigroup raised their price target on Dropbox from $27.00 to $28.00 and gave the stock a “neutral” rating in a research note on Monday, May 11th. Wall Street Zen upgraded Dropbox from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Finally, UBS Group decreased their price objective on Dropbox from $27.00 to $23.00 and set a “sell” rating for the company in a report on Friday, February 20th. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $27.00.

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.