Sarah Elizabeth Schubach Sells 1,415 Shares of Dropbox (NASDAQ:DBX) Stock

Dropbox, Inc. (NASDAQ:DBX) CAO Sarah Elizabeth Schubach sold 1,415 shares of Dropbox stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $24.76, for a total transaction of $35,035.40. Following the completion of the sale, the chief accounting officer directly owned 84,904 shares of the company’s stock, valued at $2,102,223.04. The trade was a 1.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

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

• On Wednesday, February 18th, Sarah Elizabeth Schubach sold 1,416 shares of Dropbox stock. The shares were sold at an average price of $24.49, for a total value of $34,677.84.
• On Thursday, January 15th, Sarah Elizabeth Schubach sold 1,168 shares of Dropbox stock. The stock was sold at an average price of $26.84, for a total value of $31,349.12.
• On Monday, December 29th, Sarah Elizabeth Schubach sold 1,168 shares of Dropbox stock. The stock was sold at an average price of $27.88, for a total value of $32,563.84.

Dropbox Price Performance

Dropbox stock remained flat at $26.17 during trading on Wednesday. The company had a trading volume of 2,905,643 shares, compared to its average volume of 4,377,689. The stock has a fifty day moving average price of $25.98 and a two-hundred day moving average price of $28.25. Dropbox, Inc. has a 52-week low of $23.63 and a 52-week high of $32.40. The stock has a market capitalization of $6.31 billion, a PE ratio of 14.07, a price-to-earnings-growth ratio of 1.76 and a beta of 0.63.

Dropbox (NASDAQ:DBX) last posted its quarterly earnings data on Thursday, February 19th. The company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.02. The company 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 quarter in the prior year, the company posted $0.73 EPS. Equities research analysts forecast that Dropbox, Inc. will post 1.64 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. 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 research note on Friday, February 20th. UBS Group reduced their target price on Dropbox from $27.00 to $23.00 and set a “sell” rating on the stock in a report on Friday, February 20th. JPMorgan Chase & Co. dropped their price target on Dropbox from $29.00 to $25.00 and set a “neutral” rating for the company in a research note on Friday, February 20th. Weiss Ratings restated a “hold (c+)” rating on shares of Dropbox in a report on Wednesday, January 21st. Finally, Wall Street Zen cut Dropbox from a “buy” rating to a “hold” rating in a report on Friday, January 23rd. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Dropbox presently has a consensus rating of “Hold” and a consensus target price of $27.50.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of DBX. Rossby Financial LCC grew its stake in shares of Dropbox by 128.5% in the third quarter. Rossby Financial LCC now owns 937 shares of the company’s stock valued at $28,000 after buying an additional 527 shares in the last quarter. Neo Ivy Capital Management acquired a new position in Dropbox during the 2nd quarter worth approximately $30,000. Palisade Asset Management LLC purchased a new position in Dropbox in the 3rd quarter worth approximately $30,000. First Horizon Corp acquired a new stake in Dropbox in the third quarter valued at approximately $31,000. Finally, Kestra Advisory Services LLC purchased a new stake in shares of Dropbox during the fourth quarter valued at approximately $31,000. Institutional investors and hedge funds own 94.84% of the company’s stock.

About Dropbox

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.