Dropbox (NASDAQ:DBX) CAO Sarah Elizabeth Schubach Sells 1,066 Shares

Dropbox, Inc. (NASDAQ:DBX) CAO Sarah Elizabeth Schubach sold 1,066 shares of the firm’s stock in a transaction that occurred on Thursday, October 30th. The stock was sold at an average price of $28.40, for a total transaction of $30,274.40. Following the sale, the chief accounting officer directly owned 103,591 shares in the company, valued at $2,941,984.40. The trade was a 1.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Wednesday, October 15th, Sarah Elizabeth Schubach sold 1,066 shares of Dropbox stock. The stock was sold at an average price of $28.62, for a total transaction of $30,508.92.
• On Tuesday, September 30th, Sarah Elizabeth Schubach sold 1,066 shares of Dropbox stock. The shares were sold at an average price of $30.71, for a total value of $32,736.86.

Dropbox Price Performance

Shares of NASDAQ:DBX opened at $29.70 on Tuesday. Dropbox, Inc. has a 1 year low of $24.42 and a 1 year high of $33.33. The firm has a market capitalization of $8.01 billion, a price-to-earnings ratio of 18.11, a price-to-earnings-growth ratio of 3.82 and a beta of 0.66. The business’s 50 day moving average price is $29.75 and its 200-day moving average price is $28.72.

Dropbox (NASDAQ:DBX) last announced its earnings results on Thursday, August 7th. The company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.08. Dropbox had a negative return on equity of 61.31% and a net margin of 19.17%.The firm had revenue of $625.70 million for the quarter, compared to analyst estimates of $618.60 million. During the same quarter last year, the firm posted $0.60 EPS. The business’s revenue was down 1.4% on a year-over-year basis. On average, sell-side analysts expect that Dropbox, Inc. will post 1.64 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on DBX. Weiss Ratings restated a “hold (c+)” rating on shares of Dropbox in a report on Wednesday, October 8th. Wall Street Zen lowered Dropbox from a “buy” rating to a “hold” rating in a report on Sunday, October 26th. Finally, UBS Group lowered Dropbox from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $29.00 to $27.00 in a report on Thursday, September 18th. Three research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Dropbox has a consensus rating of “Reduce” and a consensus price target of $29.67.

Institutional Trading of Dropbox

Several institutional investors and hedge funds have recently bought and sold shares of DBX. New York State Teachers Retirement System increased its stake in Dropbox by 6.7% during the first quarter. New York State Teachers Retirement System now owns 101,917 shares of the company’s stock worth $2,722,000 after purchasing an additional 6,366 shares during the period. Vontobel Holding Ltd. purchased a new stake in Dropbox during the first quarter worth about $235,000. Envestnet Asset Management Inc. increased its stake in Dropbox by 177.2% during the first quarter. Envestnet Asset Management Inc. now owns 109,549 shares of the company’s stock worth $2,926,000 after purchasing an additional 70,023 shares during the period. Crossmark Global Holdings Inc. increased its stake in Dropbox by 36.1% during the first quarter. Crossmark Global Holdings Inc. now owns 255,407 shares of the company’s stock worth $6,822,000 after purchasing an additional 67,805 shares during the period. Finally, DekaBank Deutsche Girozentrale increased its stake in Dropbox by 5.3% during the first quarter. DekaBank Deutsche Girozentrale now owns 1,875,968 shares of the company’s stock worth $49,366,000 after purchasing an additional 95,205 shares during the period. 94.84% of the stock is currently owned by hedge funds and other institutional investors.

Dropbox Company Profile

Dropbox, Inc provides a content collaboration platform worldwide. The company's platform allows individuals, families, teams, and organizations to collaborate and sign up for free through its website or app, as well as upgrade to a paid subscription plan for premium features. It serves customers in professional services, technology, media, education, industrial, consumer and retail, and financial services industries.