Insider Selling: Dropbox (NASDAQ:DBX) CAO Sells $73,584.24 in Stock

Dropbox, Inc. (NASDAQ:DBX) CAO Sarah Schubach sold 2,056 shares of Dropbox stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $35.79, for a total value of $73,584.24. Following the completion of the transaction, the chief accounting officer owned 130,821 shares in the company, valued at $4,682,083.59. This trade represents a 1.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at 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 Wednesday, September 30th, Sarah Schubach sold 2,025 shares of Dropbox stock. The stock was sold at an average price of $32.54, for a total value of $65,893.50.
• On Tuesday, September 15th, Sarah Schubach sold 2,025 shares of Dropbox stock. The stock was sold at an average price of $36.78, for a total value of $74,479.50.
• On Monday, August 31st, Sarah Schubach sold 1,631 shares of Dropbox stock. The shares were sold at an average price of $35.50, for a total transaction of $57,900.50.
• On Thursday, August 20th, Sarah Schubach sold 1,631 shares of Dropbox stock. The shares were sold at an average price of $34.01, for a total transaction 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.

Dropbox Stock Performance

Dropbox stock traded up $0.37 during trading hours on Monday, reaching $35.94. 2,154,314 shares of the stock were exchanged, compared to its average volume of 3,989,611. Dropbox, Inc. has a 52-week low of $21.69 and a 52-week high of $38.17. The stock has a market cap of $8.11 billion, a P/E ratio of 19.97, a P/E/G ratio of 5.24 and a beta of 0.63. The firm’s 50 day moving average is $34.74 and its 200 day moving average is $29.86.

Dropbox (NASDAQ:DBX) last issued its earnings results on Thursday, August 6th. The company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.01. Dropbox had a net margin of 17.49% and a negative return on equity of 24.26%. The business had revenue of $631.50 million for the quarter, compared to the consensus estimate of $626.69 million. During the same quarter in the previous year, the firm earned $0.71 earnings per share. The business’s quarterly revenue was up .9% compared to the same quarter last year. Equities research analysts expect that Dropbox, Inc. will post 1.94 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Arrowstreet Capital Limited Partnership lifted its stake in Dropbox by 12.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 8,533,736 shares of the company’s stock valued at $193,886,000 after buying an additional 960,109 shares in the last quarter. Wedge Capital Management L L P NC increased its position in Dropbox by 26.4% during the second quarter. Wedge Capital Management L L P NC now owns 3,005,173 shares of the company’s stock worth $82,552,000 after buying an additional 627,111 shares in the last quarter. Pacer Advisors Inc. increased its position in Dropbox by 2.8% during the first quarter. Pacer Advisors Inc. now owns 2,047,966 shares of the company’s stock worth $46,530,000 after buying an additional 55,921 shares in the last quarter. KBC Group NV increased its position in Dropbox by 12.6% during the first quarter. KBC Group NV now owns 944,829 shares of the company’s stock worth $21,466,000 after buying an additional 105,876 shares in the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of Dropbox by 4.0% in the first quarter. Principal Financial Group Inc. now owns 390,386 shares of the company’s stock worth $8,870,000 after acquiring an additional 15,027 shares during the last quarter. 94.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on DBX. Bank of America reissued an “underperform” rating on shares of Dropbox in a report on Friday, August 7th. Wall Street Zen downgraded Dropbox from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Citigroup lowered shares of Dropbox from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $33.00 to $29.00 in a research report on Thursday, September 24th. William Blair raised shares of Dropbox from an “underperform” rating to a “market perform” rating in a research note on Friday, August 7th. Finally, Zacks Research upgraded shares of Dropbox from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 6th. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, Dropbox presently has a consensus rating of “Reduce” and a consensus target price of $29.75.

Dropbox Company Profile

Dropbox, Inc (NASDAQ: DBX) is a software company that provides cloud-based tools for storing, organizing, sharing and collaborating on files. Its platform enables individuals, businesses and teams to access documents, photos and other content across connected devices, synchronize files and manage shared workflows.

The company’s offerings include Dropbox for cloud storage and file collaboration, Dropbox Paper for shared documents and project work, Dropbox Sign for electronic signatures, and DocSend for securely sharing and tracking business documents.