Dropbox (NASDAQ:DBX) CAO Sarah Elizabeth Schubach Sells 1,306 Shares of Stock

Dropbox, Inc. (NASDAQ:DBX) CAO Sarah Elizabeth Schubach sold 1,306 shares of the firm’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $28.14, for a total value of $36,750.84. Following the completion of the sale, the chief accounting officer owned 131,120 shares of the company’s stock, valued at $3,689,716.80. This represents a 0.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Sarah Elizabeth Schubach also recently made the following trade(s):

• 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 transaction 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 transaction 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.

Dropbox Stock Performance

Shares of Dropbox stock opened at $27.53 on Wednesday. The firm’s 50-day simple moving average is $24.57 and its 200-day simple moving average is $26.40. Dropbox, Inc. has a twelve month low of $21.69 and a twelve month high of $32.40. The firm has a market cap of $6.42 billion, a P/E ratio of 15.04, a price-to-earnings-growth ratio of 3.15 and a beta of 0.64.

Dropbox (NASDAQ:DBX) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.05. The firm had revenue of $629.50 million during the quarter, compared to analyst estimates of $620.56 million. Dropbox had a net margin of 18.71% and a negative return on equity of 30.01%. The company’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.70 earnings per share. On average, equities analysts forecast that Dropbox, Inc. will post 2.03 earnings per share for the current fiscal year.

Key Headlines Impacting Dropbox

Here are the key news stories impacting Dropbox this week:

• Positive Sentiment: Dropbox’s latest quarterly report beat Wall Street expectations, with EPS of $0.76 versus $0.71 estimated and revenue of $629.5 million above forecasts, reinforcing the company’s ability to deliver steady profitability. The stock also received a rating upgrade from Wall Street Zen to buy, while RBC recently raised its price target to $32.
• Neutral Sentiment: Several insiders, including the CEO, CTO, CAO, and two directors, sold shares in recent days. These trades were made under pre-arranged 10b5-1 plans and, in several cases, were tied to tax withholding on vested equity awards, which reduces the likelihood that they signal a fundamental change in outlook. Article Title
• Neutral Sentiment: Dropbox’s stock has also been trading near the middle of its 52-week range, suggesting investors are still balancing solid earnings execution against slower revenue growth and a mixed analyst consensus. Article Title

Wall Street Analyst Weigh In

Several brokerages recently commented on DBX. JPMorgan Chase & Co. decreased their price target on Dropbox from $29.00 to $25.00 and set a “neutral” rating on the stock in a research note on Friday, February 20th. Wall Street Zen raised Dropbox from a “hold” rating to a “buy” rating in a report on Saturday. William Blair restated an “underperform” rating on shares of Dropbox in a research note on Monday, March 23rd. UBS Group dropped their target price on shares of Dropbox from $27.00 to $23.00 and set a “sell” rating for the company in a research report on Friday, February 20th. Finally, Royal Bank Of Canada lifted their price target on shares of Dropbox from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Friday, May 8th. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $27.00.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of DBX. Empowered Funds LLC increased its position in Dropbox by 7.3% in the first quarter. Empowered Funds LLC now owns 38,795 shares of the company’s stock worth $1,036,000 after purchasing an additional 2,655 shares during the period. Cetera Investment Advisers lifted its position in Dropbox by 10.8% during the 2nd quarter. Cetera Investment Advisers now owns 24,623 shares of the company’s stock valued at $704,000 after purchasing an additional 2,405 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of Dropbox by 88.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,681 shares of the company’s stock valued at $48,000 after purchasing an additional 787 shares during the last quarter. Cresset Asset Management LLC grew its position in shares of Dropbox by 75.8% during the 2nd quarter. Cresset Asset Management LLC now owns 15,230 shares of the company’s stock worth $436,000 after buying an additional 6,569 shares during the period. Finally, Federated Hermes Inc. grew its position in shares of Dropbox by 360.9% during the 2nd quarter. Federated Hermes Inc. now owns 117,852 shares of the company’s stock worth $3,371,000 after buying an additional 92,280 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.