Insider Selling: Dropbox (NASDAQ:DBX) CAO Sells $35,378.55 in Stock

Dropbox, Inc. (NASDAQ:DBX) CAO Sarah Elizabeth Schubach sold 1,305 shares of the business’s stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $27.11, for a total value of $35,378.55. Following the completion of the transaction, the chief accounting officer owned 127,204 shares of the company’s stock, valued at $3,448,500.44. This represents a 1.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 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 value of $35,131.40.
• 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 shares were sold at an average price of $28.14, for a total transaction of $36,750.84.
• On Thursday, April 30th, Sarah Elizabeth Schubach sold 1,769 shares of Dropbox stock. The shares were sold at an average price of $23.95, for a total transaction 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 transaction of $32,530.85.

Dropbox Stock Performance

Shares of DBX traded up $0.15 during mid-day trading on Thursday, hitting $28.56. 3,353,642 shares of the company traded hands, compared to its average volume of 3,989,401. The stock has a market cap of $6.66 billion, a price-to-earnings ratio of 15.61, a P/E/G ratio of 3.01 and a beta of 0.66. The stock has a 50-day moving average price of $26.45 and a two-hundred day moving average price of $25.86. Dropbox, Inc. has a 1 year low of $21.69 and a 1 year high of $32.40.

Dropbox (NASDAQ:DBX) last posted its earnings results on Thursday, May 7th. The company reported $0.76 EPS for the quarter, topping 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 net margin of 18.71% and a negative return on equity of 30.01%. The firm’s revenue was up .8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.70 EPS. On average, analysts forecast that Dropbox, Inc. will post 2.09 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in DBX. Palisade Asset Management LLC bought a new stake in Dropbox during the 3rd quarter worth approximately $30,000. Kestra Advisory Services LLC bought a new position in shares of Dropbox in the fourth quarter worth approximately $31,000. Larson Financial Group LLC boosted its position in shares of Dropbox by 228.0% in the fourth quarter. Larson Financial Group LLC now owns 1,138 shares of the company’s stock worth $32,000 after purchasing an additional 791 shares during the period. Geneos Wealth Management Inc. increased its stake in shares of Dropbox by 78.0% in the second quarter. Geneos Wealth Management Inc. now owns 1,273 shares of the company’s stock worth $36,000 after purchasing an additional 558 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new stake in shares of Dropbox during the 4th quarter valued at $38,000. 94.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on DBX shares. Citigroup increased their target price on Dropbox from $27.00 to $28.00 and gave the company a “neutral” rating in a report on Monday, May 11th. William Blair reaffirmed an “underperform” rating on shares of Dropbox in a research report on Monday, March 23rd. Weiss Ratings reissued a “hold (c)” rating on shares of Dropbox in a report on Monday, May 4th. Royal Bank Of Canada restated an “outperform” rating on shares of Dropbox in a research report on Monday, June 1st. Finally, Wall Street Zen upgraded shares of Dropbox from a “hold” rating to a “buy” rating in a research report on Sunday. One 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.com, the stock presently 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.