Dropbox (NASDAQ:DBX) CAO Sells 1,631 Shares of Stock

Dropbox, Inc. (NASDAQ:DBX) CAO Sarah Elizabeth Schubach sold 1,631 shares of the firm’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $34.01, for a total value of $55,470.31. Following the transaction, the chief accounting officer owned 116,781 shares in the company, valued at approximately $3,971,721.81. This trade represents a 1.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 Friday, July 31st, Sarah Elizabeth 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.
• On Tuesday, June 30th, Sarah Elizabeth Schubach sold 1,305 shares of Dropbox stock. The shares were sold at an average price of $27.11, for a total value of $35,378.55.
• On Monday, June 15th, Sarah Elizabeth Schubach sold 1,306 shares of Dropbox stock. The shares were sold at an average price of $26.90, for a total value of $35,131.40.
• On Monday, June 1st, Sarah Elizabeth Schubach sold 1,305 shares of Dropbox stock. The shares were sold at an average price of $27.66, for a total transaction of $36,096.30.

Dropbox Trading Up 1.2%

DBX traded up $0.41 on Monday, reaching $34.88. The stock had a trading volume of 2,415,574 shares, compared to its average volume of 3,972,002. The company has a market capitalization of $7.87 billion, a price-to-earnings ratio of 19.38, a price-to-earnings-growth ratio of 5.08 and a beta of 0.64. Dropbox, Inc. has a fifty-two week low of $21.69 and a fifty-two week high of $36.30. The firm has a 50-day moving average of $30.41 and a 200-day moving average of $27.04.

Dropbox (NASDAQ:DBX) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.01. The business had revenue of $631.50 million during the quarter, compared to the consensus estimate of $626.69 million. Dropbox had a negative return on equity of 24.26% and a net margin of 17.49%.Dropbox’s quarterly revenue was up .9% on a year-over-year basis. During the same period in the prior year, the business posted $0.71 earnings per share. Sell-side analysts anticipate that Dropbox, Inc. will post 1.94 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on DBX shares. Bank of America reissued an “underperform” rating on shares of Dropbox in a research report on Friday, August 7th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Dropbox in a report on Monday, June 1st. Zacks Research cut Dropbox from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 19th. Wall Street Zen lowered Dropbox from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Citigroup increased their target price on Dropbox from $28.00 to $33.00 and gave the stock a “neutral” rating in a report on Friday, August 7th. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $28.25.

Institutional Investors Weigh In On Dropbox

Several large investors have recently made changes to their positions in DBX. Palisade Asset Management LLC bought a new stake in Dropbox in the 3rd quarter valued at about $30,000. Kestra Advisory Services LLC bought a new position in Dropbox in the 4th quarter worth approximately $31,000. Larson Financial Group LLC grew its stake in Dropbox by 228.0% in the 4th quarter. Larson Financial Group LLC now owns 1,138 shares of the company’s stock valued at $32,000 after buying an additional 791 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in Dropbox by 78.0% in the 2nd quarter. Geneos Wealth Management Inc. now owns 1,273 shares of the company’s stock valued at $36,000 after buying an additional 558 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new stake in Dropbox during the 4th quarter valued at $38,000. 94.84% of the stock is owned by hedge funds and other institutional investors.

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.