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

Dropbox, Inc. (NASDAQ:DBX) CAO Sarah Elizabeth Schubach sold 1,305 shares of the business’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $27.11, for a total value of $35,378.55. Following the completion of the transaction, the chief accounting officer owned 127,204 shares in the company, valued at $3,448,500.44. The trade was a 1.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 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 value of $36,096.30.
• On Tuesday, May 19th, Sarah Elizabeth Schubach sold 1,306 shares of Dropbox stock. The stock was 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 stock was 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 shares were sold at an average price of $22.99, for a total transaction of $32,530.85.

Dropbox Price Performance

Shares of DBX stock traded up $0.15 during mid-day trading on Thursday, hitting $28.56. The company had a trading volume of 3,353,642 shares, compared to its average volume of 3,989,401. Dropbox, Inc. has a 52-week low of $21.69 and a 52-week high of $32.40. The stock’s 50 day moving average price is $26.45 and its 200-day moving average price is $25.86. The company has a market capitalization of $6.66 billion, a P/E ratio of 15.61, a P/E/G ratio of 3.01 and a beta of 0.66.

Dropbox (NASDAQ:DBX) last posted its earnings results 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. The company had revenue of $629.50 million during the quarter, compared to analysts’ expectations of $620.56 million. Dropbox had a net margin of 18.71% and a negative return on equity of 30.01%. Dropbox’s quarterly revenue was up .8% on a year-over-year basis. During the same period last year, the company posted $0.70 earnings per share. On average, equities research analysts expect that Dropbox, Inc. will post 2.09 earnings per share for the current year.

Wall Street Analyst Weigh In

DBX has been the subject of several research analyst reports. William Blair restated an “underperform” rating on shares of Dropbox in a report on Monday, March 23rd. Citigroup upped their price objective on Dropbox from $27.00 to $28.00 and gave the stock a “neutral” rating in a report on Monday, May 11th. Weiss Ratings reissued a “hold (c)” rating on shares of Dropbox in a report on Monday, May 4th. Wall Street Zen upgraded shares of Dropbox from a “hold” rating to a “buy” rating in a research report on Sunday. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Dropbox in a research note on Monday, June 1st. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Dropbox currently has an average rating of “Reduce” and a consensus price target of $27.00.

Institutional Investors Weigh In On Dropbox

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Palisade Asset Management LLC purchased a new position in shares of Dropbox in the 3rd quarter worth approximately $30,000. Kestra Advisory Services LLC purchased a new stake in Dropbox during the 4th quarter valued at $31,000. Larson Financial Group LLC lifted its position 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 buying an additional 791 shares during the last quarter. Geneos Wealth Management Inc. lifted its position 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 buying an additional 558 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new position in Dropbox during the fourth quarter worth $38,000. 94.84% of the stock is currently owned by hedge funds and other institutional investors.

Dropbox Company Profile

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.