Dropbox (NASDAQ:DBX) Stock: Insider Sarah Elizabeth Schubach Sells 2,056 Shares

Dropbox, Inc. (NASDAQ:DBX) CAO Sarah Schubach sold 2,056 shares of the company’s stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $35.79, for a total transaction of $73,584.24. Following the sale, the chief accounting officer owned 130,821 shares in the company, valued at $4,682,083.59. The trade was a 1.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible 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 Wednesday, September 30th, Sarah Schubach sold 2,025 shares of Dropbox stock. The stock was sold at an average price of $32.54, for a total transaction of $65,893.50.
• On Tuesday, September 15th, Sarah Schubach sold 2,025 shares of Dropbox stock. The stock was sold at an average price of $36.78, for a total transaction of $74,479.50.
• On Monday, August 31st, Sarah Schubach sold 1,631 shares of Dropbox stock. The stock was sold at an average price of $35.50, for a total transaction of $57,900.50.
• On Thursday, August 20th, Sarah Schubach sold 1,631 shares of Dropbox stock. The shares were sold at an average price of $34.01, for a total transaction of $55,470.31.
• On Friday, July 31st, Sarah Schubach sold 1,632 shares of Dropbox stock. The shares were sold at an average price of $31.61, for a total transaction of $51,587.52.

Dropbox Price Performance

Shares of DBX traded up $0.37 during midday trading on Monday, reaching $35.94. The stock had a trading volume of 2,154,314 shares, compared to its average volume of 3,989,611. Dropbox, Inc. has a 1-year low of $21.69 and a 1-year high of $38.17. The company’s fifty day simple moving average is $34.74 and its two-hundred day simple moving average is $29.86. The company has a market cap of $8.11 billion, a price-to-earnings ratio of 19.97, a PEG ratio of 5.24 and a beta of 0.63.

Dropbox (NASDAQ:DBX) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.01. The business had revenue of $631.50 million during the quarter, compared to analysts’ expectations of $626.69 million. Dropbox had a net margin of 17.49% and a negative return on equity of 24.26%. The company’s revenue for the quarter was up .9% on a year-over-year basis. During the same period in the previous year, the company earned $0.71 EPS. On average, sell-side analysts forecast that Dropbox, Inc. will post 1.94 earnings per share for the current year.

Institutional Investors Weigh In On Dropbox

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Arrowstreet Capital Limited Partnership raised its position in Dropbox by 12.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 8,533,736 shares of the company’s stock valued at $193,886,000 after purchasing an additional 960,109 shares during the last quarter. Wedge Capital Management L L P NC raised its holdings in shares of Dropbox by 26.4% in the second 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 buying an additional 627,111 shares during the last quarter. Pacer Advisors Inc. raised its holdings in shares of Dropbox by 2.8% in the first quarter. Pacer Advisors Inc. now owns 2,047,966 shares of the company’s stock valued at $46,530,000 after buying an additional 55,921 shares during the last quarter. KBC Group NV boosted its stake in shares of Dropbox by 12.6% during the first quarter. KBC Group NV now owns 944,829 shares of the company’s stock worth $21,466,000 after buying an additional 105,876 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in shares of Dropbox by 4.0% during the first quarter. Principal Financial Group Inc. now owns 390,386 shares of the company’s stock worth $8,870,000 after buying an additional 15,027 shares during the period. 94.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

DBX has been the subject of several analyst reports. Bank of America reaffirmed an “underperform” rating on shares of Dropbox in a research report on Friday, August 7th. Royal Bank Of Canada reissued an “outperform” rating and set a $42.00 target price on shares of Dropbox in a research report on Thursday, September 3rd. William Blair raised Dropbox from an “underperform” rating to a “market perform” rating in a research report on Friday, August 7th. Zacks Research upgraded Dropbox from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 6th. Finally, Weiss Ratings raised Dropbox from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, August 13th. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, Dropbox currently has a consensus rating of “Reduce” and a consensus target price of $29.75.

Dropbox Company Profile

Dropbox, Inc (NASDAQ: DBX) is a software company that provides cloud-based tools for storing, organizing, sharing and collaborating on files. Its platform enables individuals, businesses and teams to access documents, photos and other content across connected devices, synchronize files and manage shared workflows.

The company’s offerings include Dropbox for cloud storage and file collaboration, Dropbox Paper for shared documents and project work, Dropbox Sign for electronic signatures, and DocSend for securely sharing and tracking business documents.