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 the company’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $25.76, for a total value of $36,450.40. Following the sale, the chief accounting officer owned 83,489 shares of the company’s stock, valued at approximately $2,150,676.64. This trade represents a 1.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• On Monday, March 2nd, Sarah Elizabeth Schubach sold 1,415 shares of Dropbox stock. The shares were 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 value 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.
• 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 transaction of $32,563.84.

Dropbox Trading Up 0.4%

NASDAQ:DBX opened at $25.17 on Friday. The firm has a market capitalization of $6.07 billion, a PE ratio of 13.53, a PEG ratio of 1.77 and a beta of 0.63. Dropbox, Inc. has a 1 year low of $23.63 and a 1 year high of $32.40. The firm’s fifty day simple moving average is $25.59 and its 200 day simple moving average is $28.04.

Dropbox (NASDAQ:DBX) last released its earnings results on Thursday, February 19th. The company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.02. Dropbox had a net margin of 20.17% and a negative return on equity of 37.47%. The firm had revenue of $636.20 million during the quarter, compared to analyst estimates of $627.83 million. During the same quarter in the previous year, the business earned $0.73 EPS. The business’s revenue was down 1.1% on a year-over-year basis. As a group, analysts anticipate that Dropbox, Inc. will post 1.64 EPS for the current fiscal year.

Institutional Trading of Dropbox

Several institutional investors have recently modified their holdings of the company. Rossby Financial LCC raised 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 purchasing an additional 527 shares in the last quarter. Neo Ivy Capital Management bought a new stake in Dropbox in the 2nd quarter valued at $30,000. Palisade Asset Management LLC acquired a new position in shares of Dropbox in the 3rd quarter valued at $30,000. First Horizon Corp bought a new position in shares of Dropbox during the 3rd quarter worth about $31,000. Finally, Kestra Advisory Services LLC bought a new position in shares of Dropbox during the 4th quarter worth about $31,000. Institutional investors and hedge funds own 94.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on DBX shares. UBS Group decreased 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. Wall Street Zen lowered Dropbox from a “buy” rating to a “hold” rating in a report on Friday, January 23rd. Royal Bank Of Canada reduced their price objective on Dropbox from $35.00 to $30.00 and set an “outperform” rating for the company in a research report on Friday, February 20th. Weiss Ratings restated a “hold (c+)” rating on shares of Dropbox in a research note on Wednesday, January 21st. Finally, JPMorgan Chase & Co. dropped their target price on shares of Dropbox from $29.00 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, February 20th. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $27.50.

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.