Dropbox (NASDAQ:DBX) CAO Sells $51,587.52 in Stock

Dropbox, Inc. (NASDAQ:DBX) CAO Sarah Elizabeth Schubach sold 1,632 shares of the business’s stock in a transaction on Friday, July 31st. The shares were sold at an average price of $31.61, for a total transaction of $51,587.52. Following the completion of the sale, the chief accounting officer directly owned 124,266 shares of the company’s stock, valued at approximately $3,928,048.26. This trade represents a 1.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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, June 30th, Sarah Elizabeth Schubach sold 1,305 shares of Dropbox stock. The stock was sold at an average price of $27.11, for a total value of $35,378.55.
• On Monday, June 15th, Sarah Elizabeth Schubach sold 1,306 shares of Dropbox stock. The stock was sold at an average price of $26.90, for a total value of $35,131.40.
• On Monday, June 1st, Sarah Elizabeth Schubach sold 1,305 shares of Dropbox stock. The shares were sold at an average price of $27.66, for a total value of $36,096.30.
• On Tuesday, May 19th, Sarah Elizabeth Schubach sold 1,306 shares of Dropbox stock. The shares were sold at an average price of $28.14, for a total value of $36,750.84.

Dropbox Trading Up 4.4%

Shares of NASDAQ DBX traded up $1.47 during trading hours on Tuesday, reaching $34.52. The stock had a trading volume of 5,155,025 shares, compared to its average volume of 3,946,313. The firm has a 50-day moving average of $28.42 and a 200-day moving average of $26.23. The firm has a market cap of $8.05 billion, a price-to-earnings ratio of 18.86, a PEG ratio of 3.57 and a beta of 0.64. Dropbox, Inc. has a fifty-two week low of $21.69 and a fifty-two week high of $34.54.

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

Institutional Investors Weigh In On Dropbox

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank purchased a new position in shares of Dropbox during the 4th quarter worth approximately $69,909,000. Arrowstreet Capital Limited Partnership grew its holdings in Dropbox by 12.7% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 8,533,736 shares of the company’s stock valued at $193,886,000 after buying an additional 960,109 shares during the last quarter. Arbejdsmarkedets Tillaegspension purchased a new position in Dropbox during the fourth quarter worth $22,050,000. 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 worth $82,552,000 after acquiring an additional 627,111 shares during the last quarter. Finally, Allianz Asset Management GmbH lifted its position in shares of Dropbox by 28.1% in the fourth quarter. Allianz Asset Management GmbH now owns 2,720,372 shares of the company’s stock valued at $75,626,000 after acquiring an additional 596,440 shares in the last quarter. 94.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

DBX has been the topic of a number of analyst reports. Citigroup lifted their price objective on Dropbox from $27.00 to $28.00 and gave the company a “neutral” rating in a report on Monday, May 11th. Royal Bank Of Canada restated an “outperform” rating on shares of Dropbox in a research note on Monday, June 1st. Wall Street Zen raised Dropbox from a “hold” rating to a “buy” rating in a report on Sunday, June 28th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Dropbox in a report on Friday. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $27.00.

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.