Dropbox (NASDAQ:DBX) CAO Sells $32,001.60 in Stock

Dropbox, Inc. (NASDAQ:DBX) CAO Sarah Elizabeth Schubach sold 1,416 shares of the business’s stock in a transaction dated Tuesday, March 31st. The shares were sold at an average price of $22.60, for a total value of $32,001.60. Following the completion of the sale, the chief accounting officer directly owned 82,073 shares of the company’s stock, valued at approximately $1,854,849.80. This trade represents a 1.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• 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 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 transaction 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 transaction of $31,349.12.

Dropbox Price Performance

Dropbox stock traded up $0.33 during trading hours on Thursday, reaching $23.40. The stock had a trading volume of 2,843,646 shares, compared to its average volume of 4,044,101. The company has a fifty day simple moving average of $24.99 and a 200-day simple moving average of $27.60. Dropbox, Inc. has a 52 week low of $22.00 and a 52 week high of $32.40. The stock has a market cap of $5.64 billion, a PE ratio of 12.58, a PEG ratio of 1.60 and a beta of 0.63.

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

Analysts Set New Price Targets

Several research firms recently weighed in on DBX. Wall Street Zen cut shares of Dropbox from a “buy” rating to a “hold” rating in a report on Friday, January 23rd. William Blair reaffirmed an “underperform” rating on shares of Dropbox in a research note on Monday, March 23rd. UBS Group reduced their price target 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. Royal Bank Of Canada lowered their price objective on shares of Dropbox from $35.00 to $30.00 and set an “outperform” rating for the company in a report on Friday, February 20th. Finally, JPMorgan Chase & Co. cut their price objective on Dropbox from $29.00 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, February 20th. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $27.50.

Institutional Trading of Dropbox

A number of hedge funds have recently modified their holdings of DBX. Rossby Financial LCC boosted its stake in Dropbox by 128.5% during the third quarter. Rossby Financial LCC now owns 937 shares of the company’s stock worth $28,000 after acquiring an additional 527 shares in the last quarter. Palisade Asset Management LLC bought a new position in shares of Dropbox during the third quarter valued at approximately $30,000. First Horizon Corp purchased a new position in shares of Dropbox during the third quarter valued at approximately $31,000. Kestra Advisory Services LLC bought a new stake in shares of Dropbox in the 4th quarter worth approximately $31,000. Finally, Larson Financial Group LLC boosted its position in shares of Dropbox by 228.0% in the 4th quarter. Larson Financial Group LLC now owns 1,138 shares of the company’s stock worth $32,000 after purchasing an additional 791 shares in the last quarter. Institutional investors own 94.84% of the company’s stock.

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.