Sarah Elizabeth Schubach Sells 1,416 Shares of Dropbox (NASDAQ:DBX) Stock

Dropbox, Inc. (NASDAQ:DBX) CAO Sarah Elizabeth Schubach sold 1,416 shares of the company’s stock in a transaction on Tuesday, March 31st. The stock was sold at an average price of $22.60, for a total transaction of $32,001.60. Following the sale, the chief accounting officer directly owned 82,073 shares in the company, valued at $1,854,849.80. This trade represents a 1.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 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, March 16th, Sarah Elizabeth Schubach sold 1,415 shares of Dropbox stock. The shares were sold at an average price of $25.76, for a total transaction of $36,450.40.
• On Monday, March 2nd, Sarah Elizabeth Schubach sold 1,415 shares of Dropbox stock. The stock was sold at an average price of $24.76, for a total transaction 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.
• On Thursday, January 15th, Sarah Elizabeth Schubach sold 1,168 shares of Dropbox stock. The shares were sold at an average price of $26.84, for a total transaction of $31,349.12.

Dropbox Stock Performance

Dropbox stock opened at $23.40 on Friday. The stock has a 50-day simple moving average of $24.88 and a 200 day simple moving average of $27.51. The stock has a market capitalization of $5.64 billion, a P/E ratio of 12.58, a PEG ratio of 1.65 and a beta of 0.61. Dropbox, Inc. has a 52 week low of $22.00 and a 52 week high of $32.40.

Dropbox (NASDAQ:DBX) last released its quarterly earnings data on Thursday, February 19th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.02. Dropbox had a negative return on equity of 37.47% and a net margin of 20.17%.The firm had revenue of $636.20 million for the quarter, compared to analyst estimates of $627.83 million. During the same quarter in the prior year, the company earned $0.73 earnings per share. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. Research analysts forecast that Dropbox, Inc. will post 1.64 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on DBX. Royal Bank Of Canada reduced their price objective on shares of Dropbox from $35.00 to $30.00 and set an “outperform” rating for the company in a research report on Friday, February 20th. Weiss Ratings restated a “hold (c+)” rating on shares of Dropbox in a research note on Wednesday, January 21st. JPMorgan Chase & Co. reduced their target price on shares of Dropbox from $29.00 to $25.00 and set a “neutral” rating for the company in a report on Friday, February 20th. UBS Group lowered their price target on shares of Dropbox from $27.00 to $23.00 and set a “sell” rating on the stock in a report on Friday, February 20th. Finally, William Blair restated an “underperform” rating on shares of Dropbox in a research report on Monday, March 23rd. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $27.50.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. WealthCollab LLC boosted its position in shares of Dropbox by 20.6% in the fourth quarter. WealthCollab LLC now owns 2,356 shares of the company’s stock valued at $65,000 after acquiring an additional 403 shares during the period. Parallel Advisors LLC increased its position in Dropbox by 8.3% during the fourth quarter. Parallel Advisors LLC now owns 5,765 shares of the company’s stock worth $160,000 after acquiring an additional 440 shares during the period. Lakewood Asset Management LLC increased its position in Dropbox by 1.0% during the fourth quarter. Lakewood Asset Management LLC now owns 44,905 shares of the company’s stock worth $1,248,000 after acquiring an additional 458 shares during the period. Kera Capital Partners Inc. raised its stake in Dropbox by 3.7% in the 3rd quarter. Kera Capital Partners Inc. now owns 12,945 shares of the company’s stock worth $391,000 after purchasing an additional 460 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in Dropbox by 1.8% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 26,254 shares of the company’s stock valued at $730,000 after purchasing an additional 466 shares during the period. 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.