Dropbox (NASDAQ:DBX) CAO Sarah Elizabeth Schubach Sells 1,631 Shares of Stock

Dropbox, Inc. (NASDAQ:DBX) CAO Sarah Elizabeth Schubach sold 1,631 shares of Dropbox stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $34.01, for a total value of $55,470.31. Following the completion of the transaction, the chief accounting officer owned 116,781 shares of the company’s stock, valued at approximately $3,971,721.81. The trade was a 1.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Friday, July 31st, Sarah Elizabeth Schubach sold 1,632 shares of Dropbox stock. The stock was sold at an average price of $31.61, for a total value of $51,587.52.
• On Tuesday, June 30th, Sarah Elizabeth Schubach sold 1,305 shares of Dropbox stock. The stock was sold at an average price of $27.11, for a total value of $35,378.55.
• On Monday, June 15th, Sarah Elizabeth Schubach sold 1,306 shares of Dropbox stock. The stock was sold at an average price of $26.90, for a total value of $35,131.40.
• On Monday, June 1st, Sarah Elizabeth Schubach sold 1,305 shares of Dropbox stock. The shares were sold at an average price of $27.66, for a total value of $36,096.30.

Dropbox Price Performance

Shares of DBX opened at $34.88 on Tuesday. The company has a market cap of $7.87 billion, a P/E ratio of 19.38, a PEG ratio of 5.08 and a beta of 0.64. The stock has a fifty day moving average price of $30.57 and a 200 day moving average price of $27.11. Dropbox, Inc. has a 12 month low of $21.69 and a 12 month high of $36.30.

Dropbox (NASDAQ:DBX) last posted its earnings results on Thursday, August 6th. The company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.01. Dropbox had a negative return on equity of 24.26% and a net margin of 17.49%.The company had revenue of $631.50 million for the quarter, compared to analysts’ expectations of $626.69 million. During the same period last year, the business posted $0.71 earnings per share. The firm’s quarterly revenue was up .9% compared to the same quarter last year. As a group, research analysts anticipate that Dropbox, Inc. will post 1.94 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on DBX. Citigroup boosted their target price on shares of Dropbox from $28.00 to $33.00 and gave the company a “neutral” rating in a research note on Friday, August 7th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Dropbox in a report on Monday, June 1st. Zacks Research downgraded Dropbox from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 19th. Weiss Ratings upgraded Dropbox from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, August 13th. Finally, Wall Street Zen lowered Dropbox from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $28.25.

Institutional Trading of Dropbox

A number of institutional investors have recently made changes to their positions in the stock. Empowered Funds LLC raised its holdings in Dropbox by 7.3% during the first quarter. Empowered Funds LLC now owns 38,795 shares of the company’s stock worth $1,036,000 after purchasing an additional 2,655 shares in the last quarter. Cetera Investment Advisers boosted its stake in Dropbox by 10.8% during the 2nd quarter. Cetera Investment Advisers now owns 24,623 shares of the company’s stock valued at $704,000 after purchasing an additional 2,405 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Dropbox by 88.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,681 shares of the company’s stock valued at $48,000 after purchasing an additional 787 shares during the period. Cresset Asset Management LLC increased its position in shares of Dropbox by 75.8% during the 2nd quarter. Cresset Asset Management LLC now owns 15,230 shares of the company’s stock valued at $436,000 after purchasing an additional 6,569 shares during the period. Finally, Federated Hermes Inc. raised its stake in shares of Dropbox by 360.9% in the 2nd quarter. Federated Hermes Inc. now owns 117,852 shares of the company’s stock worth $3,371,000 after buying an additional 92,280 shares in the last quarter. 94.84% of the stock is 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.