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

Dropbox, Inc. (NASDAQ:DBX) CAO Sarah Elizabeth Schubach sold 1,416 shares of the company’s stock in a transaction dated Tuesday, March 31st. The stock was sold at an average price of $22.60, for a total value of $32,001.60. Following the completion of the transaction, the chief accounting officer directly owned 82,073 shares of the company’s stock, valued at approximately $1,854,849.80. This trade represents a 1.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 Monday, March 16th, Sarah Elizabeth Schubach sold 1,415 shares of Dropbox stock. The stock was sold at an average price of $25.76, for a total value of $36,450.40.
• On Monday, March 2nd, Sarah Elizabeth Schubach sold 1,415 shares of Dropbox stock. The shares were 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 stock was 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 stock was sold at an average price of $26.84, for a total transaction of $31,349.12.

Dropbox Stock Performance

Shares of NASDAQ DBX opened at $23.40 on Friday. The company has a market cap of $5.64 billion, a P/E ratio of 12.58, a P/E/G ratio of 1.63 and a beta of 0.61. Dropbox, Inc. has a 52-week low of $22.00 and a 52-week high of $32.40. The firm’s fifty day moving average is $24.93 and its two-hundred day moving average is $27.57.

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

Analysts Set New Price Targets

A number of brokerages have recently issued reports on DBX. JPMorgan Chase & Co. lowered their target price on shares of Dropbox from $29.00 to $25.00 and set a “neutral” rating for the company in a research note on Friday, February 20th. Royal Bank Of Canada decreased their price objective on Dropbox from $35.00 to $30.00 and set an “outperform” rating for the company in a report on Friday, February 20th. William Blair reaffirmed an “underperform” rating on shares of Dropbox in a research note on Monday, March 23rd. Wall Street Zen cut Dropbox from a “buy” rating to a “hold” rating in a research report on Friday, January 23rd. Finally, UBS Group cut their price target on Dropbox from $27.00 to $23.00 and set a “sell” rating on the stock in a report on Friday, February 20th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Dropbox currently has a consensus rating of “Reduce” and a consensus price target of $27.50.

Institutional Investors Weigh In On Dropbox

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. LSV Asset Management boosted its stake in shares of Dropbox by 38.1% during the 3rd quarter. LSV Asset Management now owns 11,613,642 shares of the company’s stock worth $350,848,000 after acquiring an additional 3,205,140 shares in the last quarter. Norges Bank acquired a new stake in Dropbox in the 4th quarter valued at $69,909,000. Arbejdsmarkedets Tillaegspension purchased a new stake in Dropbox in the 4th quarter worth $22,050,000. Arrowstreet Capital Limited Partnership raised its position in Dropbox by 11.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 7,573,627 shares of the company’s stock worth $210,547,000 after acquiring an additional 767,119 shares during the period. Finally, Allianz Asset Management GmbH raised its position in Dropbox by 47.8% during the third quarter. Allianz Asset Management GmbH now owns 2,123,932 shares of the company’s stock worth $64,164,000 after acquiring an additional 686,577 shares during the period. Institutional investors and hedge funds 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.