Sarah Elizabeth Schubach Sells 2,025 Shares of Dropbox (NASDAQ:DBX) Stock

Dropbox, Inc. (NASDAQ:DBX) CAO Sarah Schubach sold 2,025 shares of the company’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $36.78, for a total transaction of $74,479.50. Following the completion of the sale, the chief accounting officer owned 134,834 shares of the company’s stock, valued at $4,959,194.52. This represents a 1.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• 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 value of $57,900.50.
• On Thursday, August 20th, Sarah Schubach sold 1,631 shares of Dropbox stock. The stock was sold at an average price of $34.01, for a total value of $55,470.31.
• On Friday, July 31st, Sarah Schubach sold 1,632 shares of Dropbox stock. The stock was sold at an average price of $31.61, for a total transaction of $51,587.52.
• On Tuesday, June 30th, Sarah 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.

Dropbox Trading Down 0.3%

DBX traded down $0.13 during midday trading on Thursday, reaching $37.61. The company’s stock had a trading volume of 4,137,464 shares, compared to its average volume of 3,961,350. The stock has a market cap of $8.49 billion, a P/E ratio of 20.89, a PEG ratio of 5.54 and a beta of 0.65. The company has a fifty day simple moving average of $33.35 and a 200 day simple moving average of $28.40. Dropbox, Inc. has a twelve month low of $21.69 and a twelve month high of $38.17.

Dropbox (NASDAQ:DBX) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $626.69 million. During the same quarter in the prior year, the business earned $0.71 earnings per share. The firm’s revenue for the quarter was up .9% on a year-over-year basis. Sell-side analysts expect that Dropbox, Inc. will post 1.94 earnings per share for the current year.

Institutional Investors Weigh In On Dropbox

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Norges Bank acquired a new position in Dropbox during the 4th quarter worth about $69,909,000. Arrowstreet Capital Limited Partnership increased its position 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 acquiring an additional 960,109 shares in the last quarter. Wedge Capital Management L L P NC raised its stake in shares of Dropbox by 26.4% in 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 acquiring an additional 627,111 shares during the last quarter. Allianz Asset Management GmbH raised its stake in shares of Dropbox by 28.1% in the fourth quarter. Allianz Asset Management GmbH now owns 2,720,372 shares of the company’s stock worth $75,626,000 after acquiring an additional 596,440 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Dropbox during the first quarter worth approximately $5,221,000. 94.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on DBX shares. Bank of America reiterated an “underperform” rating on shares of Dropbox in a research note on Friday, August 7th. Wall Street Zen cut shares of Dropbox from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Citigroup raised their price objective on shares of Dropbox from $28.00 to $33.00 and gave the stock a “neutral” rating in a report on Friday, August 7th. William Blair upgraded shares of Dropbox from an “underperform” rating to a “market perform” rating in a research report on Friday, August 7th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $42.00 price target on shares of Dropbox in a research report on Thursday, September 3rd. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $30.75.

Dropbox Company Profile

Dropbox, Inc (NASDAQ: DBX) is a technology company that provides cloud-based file storage, synchronization, sharing and collaboration services. Its platform enables individuals, businesses and organizations to store files online, access them across connected devices, and collaborate on documents and other digital content.

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