Dropbox (NASDAQ:DBX) CAO Sarah Elizabeth Schubach Sells 1,305 Shares of Stock

Dropbox, Inc. (NASDAQ:DBX) CAO Sarah Elizabeth Schubach sold 1,305 shares of the company’s stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $27.11, for a total transaction of $35,378.55. Following the completion of the sale, the chief accounting officer directly owned 127,204 shares of the company’s stock, valued at $3,448,500.44. This trade represents a 1.02% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed 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 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 stock was 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 transaction of $36,750.84.
• On Thursday, April 30th, Sarah Elizabeth Schubach sold 1,769 shares of Dropbox stock. The shares were 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 stock was sold at an average price of $22.99, for a total transaction of $32,530.85.

Dropbox Stock Up 0.5%

Shares of DBX stock opened at $28.56 on Friday. The company has a 50 day moving average price of $26.53 and a 200-day moving average price of $25.86. Dropbox, Inc. has a 52 week low of $21.69 and a 52 week high of $32.40. The firm has a market capitalization of $6.66 billion, a PE ratio of 15.61, a P/E/G ratio of 3.11 and a beta of 0.66.

Dropbox (NASDAQ:DBX) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.76 earnings per share 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 for the quarter, compared to the consensus estimate of $620.56 million. During the same quarter in the prior year, the firm earned $0.70 earnings per share. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. Analysts anticipate that Dropbox, Inc. will post 2.09 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Weiss Ratings restated a “hold (c)” rating on shares of Dropbox in a research note on Monday, May 4th. Wall Street Zen upgraded Dropbox from a “hold” rating to a “buy” rating in a research report on Sunday, June 28th. Citigroup increased their target price on Dropbox from $27.00 to $28.00 and gave the company a “neutral” rating in a report on Monday, May 11th. William Blair reissued an “underperform” rating on shares of Dropbox in a research report on Monday, March 23rd. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of Dropbox in a research note on Monday, June 1st. One analyst has rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Dropbox has an average rating of “Reduce” and an average price target of $27.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Versant Capital Management Inc increased its stake in shares of Dropbox by 23.3% in the 2nd quarter. Versant Capital Management Inc now owns 11,559 shares of the company’s stock worth $318,000 after purchasing an additional 2,182 shares in the last quarter. Redwood Investment Management LLC lifted its position in Dropbox by 15.1% during the first quarter. Redwood Investment Management LLC now owns 45,701 shares of the company’s stock valued at $1,038,000 after purchasing an additional 6,009 shares in the last quarter. Pacer Advisors Inc. lifted its position in Dropbox by 2.8% during 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. Parallel Advisors LLC lifted its position in shares of Dropbox by 49.8% during the 1st quarter. Parallel Advisors LLC now owns 8,634 shares of the company’s stock valued at $196,000 after buying an additional 2,869 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its position in shares of Dropbox by 1,879.3% during the 1st quarter. NewEdge Advisors LLC now owns 16,468 shares of the company’s stock valued at $374,000 after buying an additional 15,636 shares in the last quarter. Hedge funds and other institutional investors own 94.84% of the company’s stock.

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.