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

Dropbox, Inc. (NASDAQ:DBX) CAO Sarah Elizabeth Schubach sold 1,306 shares of the firm’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $26.90, for a total value of $35,131.40. Following the completion of the transaction, the chief accounting officer owned 128,509 shares in the company, valued at approximately $3,456,892.10. This trade represents a 1.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 Monday, June 1st, Sarah Elizabeth Schubach sold 1,305 shares of Dropbox stock. The stock was sold at an average price of $27.66, for a total value 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 value of $36,750.84.
• 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 stock was 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.

Dropbox Price Performance

Dropbox stock opened at $26.41 on Thursday. The stock’s 50-day moving average is $25.79 and its 200-day moving average is $26.04. The company has a market cap of $6.16 billion, a price-to-earnings ratio of 14.43, a price-to-earnings-growth ratio of 2.99 and a beta of 0.67. Dropbox, Inc. has a 12 month low of $21.69 and a 12 month high of $32.40.

Dropbox (NASDAQ:DBX) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.05. The company had revenue of $629.50 million for 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 company’s quarterly revenue was up .8% compared to the same quarter last year. During the same period last year, the business posted $0.70 EPS. Research analysts anticipate that Dropbox, Inc. will post 2.09 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. WealthCollab LLC grew its position in shares of Dropbox by 20.6% in the 4th quarter. WealthCollab LLC now owns 2,356 shares of the company’s stock worth $65,000 after acquiring an additional 403 shares in the last quarter. Parallel Advisors LLC boosted its position in Dropbox by 8.3% during the 4th quarter. Parallel Advisors LLC now owns 5,765 shares of the company’s stock valued at $160,000 after purchasing an additional 440 shares during the period. Lakewood Asset Management LLC boosted its position in Dropbox by 1.0% during the 4th quarter. Lakewood Asset Management LLC now owns 44,905 shares of the company’s stock valued at $1,248,000 after purchasing an additional 458 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in Dropbox by 1.8% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 26,254 shares of the company’s stock valued at $730,000 after purchasing an additional 466 shares during the period. Finally, Merit Financial Group LLC boosted its position in Dropbox by 4.4% during the 3rd quarter. Merit Financial Group LLC now owns 11,385 shares of the company’s stock valued at $344,000 after purchasing an additional 480 shares during the period. Institutional investors and hedge funds own 94.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Wall Street Zen upgraded Dropbox from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. William Blair reiterated an “underperform” rating on shares of Dropbox in a research note on Monday, March 23rd. Royal Bank Of Canada reiterated an “outperform” rating on shares of Dropbox in a research note on Monday, June 1st. UBS Group lowered their target price on Dropbox from $27.00 to $23.00 and set a “sell” rating for the company in a research note on Friday, February 20th. Finally, Citigroup raised their price objective on Dropbox from $27.00 to $28.00 and gave the company a “neutral” rating in a research note on Monday, May 11th. 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 stock. According to data from MarketBeat, Dropbox currently has a consensus 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.