Dropbox (NASDAQ:DBX) CAO Sells $36,096.30 in Stock

Dropbox, Inc. (NASDAQ:DBX) CAO Sarah Elizabeth Schubach sold 1,305 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $27.66, for a total transaction of $36,096.30. Following the completion of the transaction, the chief accounting officer directly owned 129,815 shares of the company’s stock, valued at approximately $3,590,682.90. This represents a 1.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 Tuesday, May 19th, Sarah Elizabeth Schubach sold 1,306 shares of Dropbox stock. The stock was 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 stock was 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 shares were sold at an average price of $22.99, for a total transaction of $32,530.85.
• On Tuesday, March 31st, Sarah Elizabeth Schubach sold 1,416 shares of Dropbox stock. The shares were sold at an average price of $22.60, for a total transaction of $32,001.60.
• On Monday, March 16th, Sarah Elizabeth Schubach sold 1,415 shares of Dropbox stock. The shares were sold at an average price of $25.76, for a total transaction of $36,450.40.

Dropbox Stock Performance

Shares of Dropbox stock opened at $27.52 on Friday. Dropbox, Inc. has a 52-week low of $21.69 and a 52-week high of $32.40. The stock has a market capitalization of $6.42 billion, a price-to-earnings ratio of 15.04, a price-to-earnings-growth ratio of 2.98 and a beta of 0.67. The company has a fifty day moving average of $25.11 and a 200-day moving average of $26.19.

Dropbox (NASDAQ:DBX) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.05. Dropbox had a net margin of 18.71% and a negative return on equity of 30.01%. The company had revenue of $629.50 million during the quarter, compared to analysts’ expectations of $620.56 million. During the same quarter in the prior year, the company earned $0.70 EPS. The firm’s revenue was up .8% on a year-over-year basis. On average, equities research analysts forecast that Dropbox, Inc. will post 2.09 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Dropbox

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. LSV Asset Management raised its holdings in Dropbox by 38.1% during the 3rd quarter. LSV Asset Management now owns 11,613,642 shares of the company’s stock valued at $350,848,000 after buying an additional 3,205,140 shares during the last quarter. Arbejdsmarkedets Tillaegspension bought a new stake in Dropbox during the 4th quarter valued at $22,050,000. Intech Investment Management LLC raised its holdings in Dropbox by 117.3% during the 3rd quarter. Intech Investment Management LLC now owns 407,958 shares of the company’s stock valued at $12,324,000 after buying an additional 220,176 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in Dropbox by 57.9% during the 4th quarter. Nisa Investment Advisors LLC now owns 223,706 shares of the company’s stock valued at $6,219,000 after buying an additional 82,053 shares during the last quarter. Finally, Tudor Investment Corp ET AL raised its holdings in Dropbox by 3,963.5% during the 3rd quarter. Tudor Investment Corp ET AL now owns 312,892 shares of the company’s stock valued at $9,452,000 after buying an additional 305,192 shares during the last quarter. 94.84% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on DBX. William Blair reaffirmed an “underperform” rating on shares of Dropbox in a research note on Monday, March 23rd. Citigroup upped their price objective on shares of Dropbox from $27.00 to $28.00 and gave the company a “neutral” rating in a research note on Monday, May 11th. UBS Group cut their price objective on shares of Dropbox from $27.00 to $23.00 and set a “sell” rating for the company in a research note on Friday, February 20th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Dropbox in a research note on Monday, May 4th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Dropbox from $29.00 to $25.00 and set a “neutral” rating for the company in a report on Friday, February 20th. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Dropbox currently has a consensus rating of “Reduce” and a consensus 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.