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

Dropbox, Inc. (NASDAQ:DBX) CAO Sarah Elizabeth Schubach sold 1,306 shares of the business’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $28.14, for a total transaction of $36,750.84. Following the completion of the transaction, the chief accounting officer owned 131,120 shares in the company, valued at approximately $3,689,716.80. The trade was a 0.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction of $42,367.55.
• On Wednesday, April 15th, Sarah Elizabeth Schubach sold 1,415 shares of Dropbox stock. The shares were sold at an average price of $22.99, for a total transaction of $32,530.85.
• On Tuesday, March 31st, Sarah Elizabeth Schubach sold 1,416 shares of Dropbox stock. The shares were 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 shares were sold at an average price of $24.49, for a total transaction of $34,677.84.

Dropbox Trading Down 1.6%

DBX stock traded down $0.45 during midday trading on Tuesday, hitting $27.53. The stock had a trading volume of 4,028,469 shares, compared to its average volume of 3,994,343. Dropbox, Inc. has a 1-year low of $21.69 and a 1-year 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 3.02 and a beta of 0.64. The business has a fifty day moving average price of $24.55 and a two-hundred day moving average price of $26.41.

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

Analyst Ratings Changes

A number of analysts have commented on the company. Royal Bank Of Canada boosted their price objective on Dropbox from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. UBS Group decreased their price objective on Dropbox from $27.00 to $23.00 and set a “sell” rating for the company in a report on Friday, February 20th. Wall Street Zen raised Dropbox from a “hold” rating to a “buy” rating in a report on Saturday. William Blair reissued an “underperform” rating on shares of Dropbox in a report on Monday, March 23rd. Finally, Citigroup boosted their price objective on Dropbox from $27.00 to $28.00 and gave the stock a “neutral” rating in a report on Monday, May 11th. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $27.00.

Institutional Trading of Dropbox

Hedge funds and other institutional investors have recently modified their holdings of the business. Rossby Financial LCC raised its position in shares of Dropbox by 128.5% in the third quarter. Rossby Financial LCC now owns 937 shares of the company’s stock valued at $28,000 after purchasing an additional 527 shares during the period. Palisade Asset Management LLC bought a new stake in shares of Dropbox in the third quarter valued at approximately $30,000. First Horizon Corp bought a new stake in shares of Dropbox in the third quarter valued at approximately $31,000. Kestra Advisory Services LLC bought a new stake in shares of Dropbox in the fourth quarter valued at approximately $31,000. Finally, Larson Financial Group LLC raised its position in shares of Dropbox by 228.0% in the fourth quarter. Larson Financial Group LLC now owns 1,138 shares of the company’s stock valued at $32,000 after purchasing an additional 791 shares during the period. Institutional investors own 94.84% of the company’s stock.

Dropbox Company Profile

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.