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

Dropbox, Inc. (NASDAQ:DBX) CAO Sarah Elizabeth Schubach sold 1,305 shares of Dropbox stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $27.66, for a total value of $36,096.30. Following the completion of the sale, the chief accounting officer directly owned 129,815 shares in the company, valued at approximately $3,590,682.90. This represents a 1.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 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, 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 value 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 value 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 value of $32,530.85.
• On Tuesday, March 31st, Sarah Elizabeth Schubach sold 1,416 shares of Dropbox stock. The stock was sold at an average price of $22.60, for a total value of $32,001.60.
• 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 value of $36,450.40.

Dropbox Price Performance

DBX opened at $27.20 on Friday. The business has a fifty day simple moving average of $25.02 and a 200 day simple moving average of $26.18. The company has a market capitalization of $6.35 billion, a PE ratio of 14.86, a price-to-earnings-growth ratio of 3.02 and a beta of 0.67. Dropbox, Inc. has a 1 year low of $21.69 and a 1 year high of $32.40.

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

Wall Street Analyst Weigh In

Several brokerages recently commented on DBX. Wall Street Zen upgraded Dropbox from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. JPMorgan Chase & Co. lowered their price objective on Dropbox from $29.00 to $25.00 and set a “neutral” rating for the company in a research note on Friday, February 20th. Weiss Ratings reissued a “hold (c)” rating on shares of Dropbox in a research note on Monday, May 4th. Citigroup lifted their price target on Dropbox from $27.00 to $28.00 and gave the stock a “neutral” rating in a report on Monday, May 11th. Finally, William Blair reiterated an “underperform” rating on shares of Dropbox in a report on Monday, March 23rd. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $27.00.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Rossby Financial LCC boosted its position in shares of Dropbox by 128.5% in the 3rd quarter. Rossby Financial LCC now owns 937 shares of the company’s stock worth $28,000 after purchasing an additional 527 shares in the last quarter. Palisade Asset Management LLC bought a new position in shares of Dropbox during the 3rd quarter valued at $30,000. Kestra Advisory Services LLC bought a new position in shares of Dropbox during the 4th quarter valued at $31,000. Larson Financial Group LLC lifted its holdings in shares of Dropbox by 228.0% during the 4th quarter. Larson Financial Group LLC now owns 1,138 shares of the company’s stock valued at $32,000 after buying an additional 791 shares during the period. Finally, Geneos Wealth Management Inc. lifted its holdings in shares of Dropbox by 78.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 1,273 shares of the company’s stock valued at $36,000 after buying an additional 558 shares during the period. 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.