Dropbox (NASDAQ:DBX) CAO Sarah Elizabeth Schubach Sells 1,632 Shares

Dropbox, Inc. (NASDAQ:DBX) CAO Sarah Elizabeth Schubach sold 1,632 shares of Dropbox stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $31.61, for a total value of $51,587.52. Following the sale, the chief accounting officer owned 124,266 shares of the company’s stock, valued at approximately $3,928,048.26. This 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 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 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 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 transaction 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.

Dropbox Stock Up 4.4%

DBX stock opened at $34.51 on Wednesday. The company has a market capitalization of $8.05 billion, a price-to-earnings ratio of 18.86, a P/E/G ratio of 3.62 and a beta of 0.64. Dropbox, Inc. has a 12 month low of $21.69 and a 12 month high of $34.54. The firm has a 50 day moving average of $28.58 and a two-hundred day moving average of $26.29.

Dropbox (NASDAQ:DBX) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.76 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $620.56 million. During the same quarter in the prior year, the business posted $0.70 EPS. Dropbox’s quarterly revenue was up .8% on a year-over-year basis. On average, research analysts expect that Dropbox, Inc. will post 2.09 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

DBX has been the topic of several recent research reports. Wall Street Zen upgraded Dropbox from a “hold” rating to a “buy” rating in a report on Sunday, June 28th. Citigroup upped their price target on Dropbox from $27.00 to $28.00 and gave the stock a “neutral” rating in a research note on Monday, May 11th. Weiss Ratings reissued a “hold (c)” rating on shares of Dropbox in a report on Friday. Finally, Royal Bank Of Canada reissued an “outperform” rating on shares of Dropbox in a research note on Monday, June 1st. 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 stock. According to MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $27.00.

Institutional Investors Weigh In On Dropbox

Hedge funds have recently bought and sold shares of the company. Wedge Capital Management L L P NC increased its stake 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 purchasing an additional 627,111 shares during the period. Baron Wealth Management LLC bought a new stake in Dropbox during the 2nd quarter valued at approximately $263,000. GAMMA Investing LLC boosted its stake in Dropbox by 26.2% during the 2nd quarter. GAMMA Investing LLC now owns 9,554 shares of the company’s stock valued at $262,000 after purchasing an additional 1,981 shares during the period. Versant Capital Management Inc grew its holdings in Dropbox by 23.3% in the 2nd quarter. Versant Capital Management Inc now owns 11,559 shares of the company’s stock valued at $318,000 after buying an additional 2,182 shares during the last quarter. Finally, Redwood Investment Management LLC grew its holdings in Dropbox by 15.1% in the 1st quarter. Redwood Investment Management LLC now owns 45,701 shares of the company’s stock valued at $1,038,000 after buying an additional 6,009 shares during the last quarter. 94.84% of the stock is currently owned by institutional investors.

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.