Insider Selling: Dropbox (NASDAQ:DBX) CAO Sells $57,900.50 in Stock

Dropbox, Inc. (NASDAQ:DBX) CAO Sarah Schubach sold 1,631 shares of the stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $35.50, for a total value of $57,900.50. Following the transaction, the chief accounting officer owned 115,150 shares in the company, valued at approximately $4,087,825. This trade represents a 1.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through 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 Thursday, August 20th, Sarah Schubach sold 1,631 shares of Dropbox stock. The stock was sold at an average price of $34.01, for a total value 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 shares were sold at an average price of $27.11, for a total transaction of $35,378.55.
• On Monday, June 15th, Sarah Schubach sold 1,306 shares of Dropbox stock. The stock was sold at an average price of $26.90, for a total transaction of $35,131.40.

Dropbox Trading Down 2.4%

Shares of DBX opened at $34.83 on Friday. Dropbox, Inc. has a 12 month low of $21.69 and a 12 month high of $36.37. The firm’s 50 day moving average is $32.16 and its 200-day moving average is $27.75. The stock has a market capitalization of $7.86 billion, a PE ratio of 19.35, a P/E/G ratio of 5.28 and a beta of 0.65.

Dropbox (NASDAQ:DBX) last released its earnings results on Thursday, August 6th. The company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.01. The firm had revenue of $631.50 million during the quarter, compared to the consensus estimate of $626.69 million. Dropbox had a negative return on equity of 24.26% and a net margin of 17.49%.The company’s revenue was up .9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.71 EPS. Equities research analysts predict that Dropbox, Inc. will post 1.93 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Pacer Advisors Inc. boosted its stake in shares of Dropbox by 2.8% in the 1st quarter. Pacer Advisors Inc. now owns 2,047,966 shares of the company’s stock valued at $46,530,000 after purchasing an additional 55,921 shares during the last quarter. Arbejdsmarkedets Tillaegspension acquired a new stake in Dropbox during the 4th quarter worth about $22,050,000. ING Groep NV bought a new position in shares of Dropbox in the 4th quarter worth about $1,223,000. Jupiter Asset Management Ltd. acquired a new position in shares of Dropbox in the 4th quarter valued at about $1,591,000. Finally, OP Asset Management Ltd bought a new stake in shares of Dropbox during the 1st quarter valued at about $3,196,000. 94.84% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have commented on DBX shares. Royal Bank Of Canada restated an “outperform” rating and set a $42.00 price objective on shares of Dropbox in a research report on Thursday. Zacks Research lowered Dropbox from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 19th. Wall Street Zen downgraded Dropbox from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Weiss Ratings upgraded Dropbox from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, August 13th. Finally, Citigroup raised their price target on shares of Dropbox from $28.00 to $33.00 and gave the company a “neutral” rating in a research note on Friday, August 7th. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, Dropbox has a consensus rating of “Reduce” and an average target price of $30.75.

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.