Dropbox (NASDAQ:DBX) CAO Sarah Elizabeth Schubach Sells 1,632 Shares

Dropbox, Inc. (NASDAQ:DBX) CAO Sarah Elizabeth Schubach sold 1,632 shares of the company’s stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $31.61, for a total transaction of $51,587.52. Following the completion of the transaction, the chief accounting officer owned 124,266 shares in the company, valued at approximately $3,928,048.26. This trade represents a 1.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed 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 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 transaction of $35,378.55.
• On Monday, June 15th, Sarah Elizabeth Schubach sold 1,306 shares of Dropbox stock. The shares were sold at an average price of $26.90, for a total transaction 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 transaction of $36,096.30.
• On Tuesday, May 19th, Sarah Elizabeth Schubach sold 1,306 shares of Dropbox stock. The stock was sold at an average price of $28.14, for a total transaction of $36,750.84.

Dropbox Price Performance

DBX traded up $1.47 during trading on Tuesday, hitting $34.52. The company’s stock had a trading volume of 5,155,025 shares, compared to its average volume of 3,946,313. Dropbox, Inc. has a twelve month low of $21.69 and a twelve month high of $34.54. The stock has a market cap of $8.05 billion, a PE ratio of 18.86, a PEG ratio of 3.57 and a beta of 0.64. The firm’s 50 day moving average price is $28.42 and its 200-day moving average price is $26.23.

Dropbox (NASDAQ:DBX) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.05. The business had revenue of $629.50 million during the quarter, compared to the consensus estimate of $620.56 million. Dropbox had a negative return on equity of 30.01% and a net margin of 18.71%.The business’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.70 earnings per share. Equities analysts anticipate that Dropbox, Inc. will post 2.09 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. LSV Asset Management raised its stake in shares of Dropbox by 1.1% in the 4th quarter. LSV Asset Management now owns 11,735,641 shares of the company’s stock valued at $326,251,000 after acquiring an additional 121,999 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in Dropbox by 12.7% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 8,533,736 shares of the company’s stock worth $193,886,000 after purchasing an additional 960,109 shares during the period. Jacobs Levy Equity Management Inc. boosted its position in Dropbox by 1.4% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 5,095,485 shares of the company’s stock worth $153,935,000 after purchasing an additional 70,867 shares during the period. Wedge Capital Management L L P NC increased its holdings in Dropbox by 26.4% in the 2nd quarter. Wedge Capital Management L L P NC now owns 3,005,173 shares of the company’s stock valued at $82,552,000 after purchasing an additional 627,111 shares in the last quarter. Finally, Allianz Asset Management GmbH raised its position in Dropbox by 28.1% in the fourth quarter. Allianz Asset Management GmbH now owns 2,720,372 shares of the company’s stock valued at $75,626,000 after purchasing an additional 596,440 shares during the period. 94.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Citigroup boosted their target price on shares of Dropbox from $27.00 to $28.00 and gave the company a “neutral” rating in a report on Monday, May 11th. Wall Street Zen upgraded shares of Dropbox from a “hold” rating to a “buy” rating in a report on Sunday, June 28th. Royal Bank Of Canada reissued an “outperform” rating on shares of Dropbox in a research note on Monday, June 1st. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Dropbox in a report on Friday. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock 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.