Dropbox (NASDAQ:DBX) CAO Sarah Elizabeth Schubach Sells 1,769 Shares

Dropbox, Inc. (NASDAQ:DBX) CAO Sarah Elizabeth Schubach sold 1,769 shares of Dropbox stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $23.95, for a total value of $42,367.55. Following the completion of the sale, the chief accounting officer directly owned 136,106 shares in the company, valued at $3,259,738.70. This trade represents a 1.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• 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 value 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 value of $32,001.60.
• On Monday, March 16th, Sarah Elizabeth Schubach sold 1,415 shares of Dropbox stock. The stock was sold at an average price of $25.76, for a total value of $36,450.40.
• 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 shares were sold at an average price of $24.49, for a total transaction of $34,677.84.

Dropbox Stock Up 2.0%

Dropbox stock traded up $0.48 during mid-day trading on Thursday, reaching $25.17. 1,364,187 shares of the company’s stock traded hands, compared to its average volume of 3,825,879. Dropbox, Inc. has a 12-month low of $21.69 and a 12-month high of $32.40. The stock has a 50 day moving average of $24.33 and a two-hundred day moving average of $26.56. The company has a market cap of $6.07 billion, a price-to-earnings ratio of 13.53, a PEG ratio of 1.79 and a beta of 0.64.

Dropbox (NASDAQ:DBX) last issued its quarterly earnings data on Thursday, February 19th. The company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.02. The business had revenue of $636.20 million during the quarter, compared to analysts’ expectations of $627.83 million. Dropbox had a net margin of 20.17% and a negative return on equity of 37.47%. The business’s revenue was down 1.1% on a year-over-year basis. During the same period last year, the company posted $0.73 EPS. As a group, sell-side analysts forecast that Dropbox, Inc. will post 2.03 earnings per share for the current year.

Hedge Funds Weigh In On Dropbox

A number of hedge funds have recently added to or reduced their stakes in DBX. LSV Asset Management boosted its stake in Dropbox by 38.1% in the third quarter. LSV Asset Management now owns 11,613,642 shares of the company’s stock valued at $350,848,000 after acquiring an additional 3,205,140 shares in the last quarter. Intech Investment Management LLC lifted its holdings in shares of 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 purchasing an additional 220,176 shares during the last quarter. Tudor Investment Corp ET AL boosted its position in shares of Dropbox by 3,963.5% in the 3rd quarter. Tudor Investment Corp ET AL now owns 312,892 shares of the company’s stock worth $9,452,000 after purchasing an additional 305,192 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Dropbox by 57.9% in the 4th quarter. Nisa Investment Advisors LLC now owns 223,706 shares of the company’s stock worth $6,219,000 after purchasing an additional 82,053 shares in the last quarter. Finally, WINTON GROUP Ltd purchased a new position in Dropbox during the 3rd quarter worth $4,497,000. 94.84% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on DBX. Weiss Ratings reissued a “hold (c)” rating on shares of Dropbox in a research report on Monday. Wall Street Zen downgraded shares of Dropbox from a “buy” rating to a “hold” rating in a research note on Friday, January 23rd. JPMorgan Chase & Co. dropped their price target on shares of Dropbox from $29.00 to $25.00 and set a “neutral” rating for the company in a research note on Friday, February 20th. William Blair reissued an “underperform” rating on shares of Dropbox in a research report on Monday, March 23rd. Finally, Royal Bank Of Canada decreased their price objective on shares of Dropbox from $35.00 to $30.00 and set an “outperform” rating for the company in a research note on Friday, February 20th. One research 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. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average 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.