Dropbox (NASDAQ:DBX) Stock: Insider Sarah Elizabeth Schubach Sells 2,025 Shares

Dropbox, Inc. (NASDAQ:DBX) CAO Sarah Schubach sold 2,025 shares of the firm’s stock in a transaction that occurred on Wednesday, September 30th. The shares were sold at an average price of $32.54, for a total transaction of $65,893.50. Following the transaction, the chief accounting officer owned 132,809 shares in the company, valued at $4,321,604.86. This represents a 1.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• 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 value 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 value 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 value 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 value of $51,587.52.

Dropbox Price Performance

Shares of DBX traded down $0.18 during midday trading on Friday, reaching $33.90. The stock had a trading volume of 2,634,517 shares, compared to its average volume of 4,054,515. The company has a market capitalization of $7.65 billion, a P/E ratio of 18.83, a P/E/G ratio of 4.98 and a beta of 0.63. The firm’s 50 day moving average price is $34.34 and its 200-day moving average price is $29.03. Dropbox, Inc. has a 52 week low of $21.69 and a 52 week high of $38.17.

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

Analyst Upgrades and Downgrades

A number of research firms recently commented on DBX. Royal Bank Of Canada reiterated an “outperform” rating and issued a $42.00 target price on shares of Dropbox in a report on Thursday, September 3rd. William Blair raised Dropbox from an “underperform” rating to a “market perform” rating in a report on Friday, August 7th. Citigroup downgraded Dropbox from a “neutral” rating to a “sell” rating and cut their price objective for the company from $33.00 to $29.00 in a research report on Thursday, September 24th. Zacks Research lowered Dropbox from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 19th. Finally, Bank of America restated an “underperform” rating on shares of Dropbox in a report on Friday, August 7th. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $29.75.

Hedge Funds Weigh In On Dropbox

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Pacer Advisors Inc. lifted 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 purchasing an additional 55,921 shares in the last quarter. ING Groep NV purchased a new stake in Dropbox in the 4th quarter worth about $1,223,000. OP Asset Management Ltd acquired a new stake in Dropbox during the 1st quarter worth about $3,196,000. Wedge Capital Management L L P NC grew its stake in Dropbox by 26.4% during the 2nd 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 acquiring an additional 627,111 shares in the last quarter. Finally, Pinebridge Investments LLC purchased a new position in Dropbox during the 4th quarter valued at about $1,142,000. 94.84% of the stock is currently owned by hedge funds and other institutional investors.

About Dropbox

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 files across devices, synchronize content and manage collaboration through web, desktop and mobile applications.

The company’s product portfolio includes Dropbox for cloud storage and file collaboration, Dropbox Sign for electronic signatures and document workflows, and DocSend for securely sharing and tracking business documents.