Dropbox (NASDAQ:DBX) CAO Sarah Elizabeth Schubach Sells 2,025 Shares of Stock

Dropbox, Inc. (NASDAQ:DBX) CAO Sarah Schubach sold 2,025 shares of Dropbox stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $36.78, for a total value of $74,479.50. Following the transaction, the chief accounting officer directly owned 134,834 shares in the company, valued at approximately $4,959,194.52. The trade was a 1.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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, August 31st, Sarah Schubach sold 1,631 shares of Dropbox stock. The stock was sold at an average price of $35.50, for a total transaction of $57,900.50.
• On Thursday, August 20th, Sarah Schubach sold 1,631 shares of Dropbox stock. The shares were sold at an average price of $34.01, for a total transaction of $55,470.31.
• On Friday, July 31st, Sarah Schubach sold 1,632 shares of Dropbox stock. The shares were sold at an average price of $31.61, for a total transaction of $51,587.52.
• On Tuesday, June 30th, Sarah Schubach sold 1,305 shares of Dropbox stock. The stock was sold at an average price of $27.11, for a total transaction of $35,378.55.

Dropbox Price Performance

NASDAQ DBX opened at $37.61 on Friday. The company’s 50 day simple moving average is $33.52 and its 200 day simple moving average is $28.49. Dropbox, Inc. has a 12 month low of $21.69 and a 12 month high of $38.17. The company has a market capitalization of $8.49 billion, a P/E ratio of 20.89, a PEG ratio of 5.56 and a beta of 0.65.

Dropbox (NASDAQ:DBX) last issued its earnings results on Thursday, August 6th. The company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.01. The firm had revenue of $631.50 million during the quarter, compared to analysts’ expectations of $626.69 million. Dropbox had a net margin of 17.49% and a negative return on equity of 24.26%. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period last year, the firm posted $0.71 earnings per share. On average, analysts anticipate that Dropbox, Inc. will post 1.94 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Zacks Research lowered Dropbox from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 19th. Wall Street Zen lowered Dropbox from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Weiss Ratings raised Dropbox from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, August 13th. Royal Bank Of Canada restated an “outperform” rating and set a $42.00 price objective on shares of Dropbox in a report on Thursday, September 3rd. Finally, Bank of America reaffirmed an “underperform” rating on shares of Dropbox in a research note on Friday, August 7th. One investment 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’s stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and an average target price of $30.75.

Hedge Funds Weigh In On Dropbox

Several institutional investors and hedge funds have recently added to or reduced their stakes in DBX. Larson Financial Group LLC lifted its holdings in shares of Dropbox by 228.0% in the fourth quarter. Larson Financial Group LLC now owns 1,138 shares of the company’s stock valued at $32,000 after purchasing an additional 791 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Dropbox by 68.1% during the first quarter. EverSource Wealth Advisors LLC now owns 2,052 shares of the company’s stock valued at $47,000 after buying an additional 831 shares in the last quarter. Hantz Financial Services Inc. grew its holdings in shares of Dropbox by 143.0% during the fourth quarter. Hantz Financial Services Inc. now owns 3,519 shares of the company’s stock valued at $98,000 after buying an additional 2,071 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Dropbox during the fourth quarter valued at $103,000. Finally, Eurizon Capital SGR S.p.A. acquired a new position in Dropbox during the fourth quarter valued at $119,000. 94.84% of the stock is currently owned by hedge funds and other institutional investors.

About Dropbox

Dropbox, Inc (NASDAQ: DBX) is a technology company that provides cloud-based file storage, synchronization, sharing and collaboration services. Its platform enables individuals, businesses and organizations to store files online, access them across connected devices, and collaborate on documents and other digital content.

The company’s offerings include Dropbox for file management and collaboration, Dropbox Paper for shared document and project work, Dropbox Sign for electronic signatures, and DocSend for securely sharing and tracking business documents.