Sarah Elizabeth Schubach Sells 1,306 Shares of Dropbox (NASDAQ:DBX) Stock

Dropbox, Inc. (NASDAQ:DBX) CAO Sarah Elizabeth Schubach sold 1,306 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $26.90, for a total transaction of $35,131.40. Following the completion of the sale, the chief accounting officer owned 128,509 shares of the company’s stock, valued at approximately $3,456,892.10. This trade represents a 1.01% decrease in their ownership of the stock. The sale was disclosed in a filing 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, 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.
• 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 shares were sold at an average price of $22.99, for a total transaction 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 transaction of $32,001.60.

Dropbox Trading Down 3.3%

Shares of DBX stock traded down $0.89 during trading hours on Wednesday, hitting $26.41. The company’s stock had a trading volume of 5,028,169 shares, compared to its average volume of 3,953,121. The company has a 50 day moving average of $25.73 and a 200 day moving average of $26.06. The stock has a market cap of $6.16 billion, a PE ratio of 14.43, a price-to-earnings-growth ratio of 2.98 and a beta of 0.67. Dropbox, Inc. has a 12-month low of $21.69 and a 12-month high of $32.40.

Dropbox (NASDAQ:DBX) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.71 by $0.05. The business had revenue of $629.50 million for the quarter, compared to the consensus estimate of $620.56 million. Dropbox had a net margin of 18.71% and a negative return on equity of 30.01%. The business’s revenue for the quarter was up .8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.70 EPS. As a group, analysts anticipate that Dropbox, Inc. will post 2.09 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Rossby Financial LCC lifted its stake in Dropbox by 128.5% in the third quarter. Rossby Financial LCC now owns 937 shares of the company’s stock worth $28,000 after acquiring an additional 527 shares during the last quarter. Palisade Asset Management LLC purchased a new position in Dropbox in the third quarter worth approximately $30,000. Kestra Advisory Services LLC purchased a new position in Dropbox in the fourth quarter worth approximately $31,000. Larson Financial Group LLC lifted its stake in Dropbox by 228.0% in the fourth quarter. Larson Financial Group LLC now owns 1,138 shares of the company’s stock worth $32,000 after acquiring an additional 791 shares during the last quarter. Finally, Geneos Wealth Management Inc. lifted its stake in Dropbox by 78.0% in the second quarter. Geneos Wealth Management Inc. now owns 1,273 shares of the company’s stock worth $36,000 after acquiring an additional 558 shares during the last quarter. Hedge funds and other institutional investors own 94.84% of the company’s stock.

Wall Street Analyst Weigh In

DBX has been the topic of several recent research reports. JPMorgan Chase & Co. dropped their price objective on shares of Dropbox from $29.00 to $25.00 and set a “neutral” rating on the stock in a report on Friday, February 20th. UBS Group reduced their price objective on shares of Dropbox from $27.00 to $23.00 and set a “sell” rating for the company in a research report on Friday, February 20th. William Blair restated an “underperform” rating on shares of Dropbox in a research report on Monday, March 23rd. Wall Street Zen upgraded shares of Dropbox from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of Dropbox in a research report on Monday, June 1st. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $27.00.

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.