Insider Selling: Dropbox (NASDAQ:DBX) CAO Sells $55,470.31 in Stock

Dropbox, Inc. (NASDAQ:DBX) CAO Sarah Elizabeth Schubach sold 1,631 shares of Dropbox stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $34.01, for a total value of $55,470.31. Following the completion of the sale, the chief accounting officer directly owned 116,781 shares in the company, valued at $3,971,721.81. This represents a 1.38% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed 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 Friday, July 31st, Sarah Elizabeth Schubach sold 1,632 shares of Dropbox stock. The stock was sold at an average price of $31.61, for a total value of $51,587.52.
• On Tuesday, June 30th, Sarah Elizabeth Schubach sold 1,305 shares of Dropbox stock. The shares were 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 shares were 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.

Dropbox Price Performance

Shares of DBX stock opened at $34.80 on Thursday. The business’s fifty day moving average price is $30.88 and its 200 day moving average price is $27.25. Dropbox, Inc. has a 1-year low of $21.69 and a 1-year high of $36.30. The firm has a market capitalization of $7.85 billion, a PE ratio of 19.33, a P/E/G ratio of 5.14 and a beta of 0.64.

Dropbox (NASDAQ:DBX) last released its earnings results on Thursday, August 6th. The company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.01. The company had revenue of $631.50 million during the quarter, compared to the consensus estimate of $626.69 million. Dropbox had a negative return on equity of 24.26% and a net margin of 17.49%.Dropbox’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter last year, the company earned $0.71 earnings per share. Equities research analysts expect that Dropbox, Inc. will post 1.93 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Dropbox

Large investors have recently added to or reduced their stakes in the business. Palisade Asset Management LLC purchased a new stake in shares of Dropbox in the third quarter valued at about $30,000. Kestra Advisory Services LLC purchased a new position in shares of Dropbox during the 4th quarter worth approximately $31,000. Larson Financial Group LLC raised its position in shares of Dropbox by 228.0% during the 4th quarter. Larson Financial Group LLC now owns 1,138 shares of the company’s stock worth $32,000 after purchasing an additional 791 shares during the last quarter. Geneos Wealth Management Inc. raised its position in shares of Dropbox by 78.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 1,273 shares of the company’s stock worth $36,000 after purchasing an additional 558 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in Dropbox in the 4th quarter valued at approximately $38,000. 94.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Weiss Ratings upgraded shares of Dropbox from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, August 13th. Wall Street Zen downgraded shares of Dropbox from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Royal Bank Of Canada reissued an “outperform” rating on shares of Dropbox in a research note on Monday, June 1st. Bank of America restated an “underperform” rating on shares of Dropbox in a report on Friday, August 7th. Finally, William Blair raised Dropbox from an “underperform” rating to a “market perform” rating in a research note on Friday, August 7th. One research analyst has rated the stock with a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, Dropbox has a consensus rating of “Reduce” and a consensus price target of $28.25.

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.