Dropbox (NASDAQ:DBX) CAO Sarah Elizabeth Schubach Sells 1,415 Shares

Dropbox, Inc. (NASDAQ:DBX) CAO Sarah Elizabeth Schubach sold 1,415 shares of the business’s stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $25.76, for a total value of $36,450.40. Following the transaction, the chief accounting officer directly owned 83,489 shares in the company, valued at approximately $2,150,676.64. This represents a 1.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

• On Monday, March 2nd, Sarah Elizabeth Schubach sold 1,415 shares of Dropbox stock. The stock was sold at an average price of $24.76, for a total value of $35,035.40.
• On Wednesday, February 18th, Sarah Elizabeth Schubach sold 1,416 shares of Dropbox stock. The stock was sold at an average price of $24.49, for a total transaction of $34,677.84.
• On Thursday, January 15th, Sarah Elizabeth Schubach sold 1,168 shares of Dropbox stock. The shares were sold at an average price of $26.84, for a total transaction of $31,349.12.
• On Monday, December 29th, Sarah Elizabeth Schubach sold 1,168 shares of Dropbox stock. The shares were sold at an average price of $27.88, for a total transaction of $32,563.84.

Dropbox Price Performance

Shares of Dropbox stock traded down $0.48 during trading on Wednesday, hitting $25.06. The stock had a trading volume of 3,132,819 shares, compared to its average volume of 4,183,919. Dropbox, Inc. has a 12 month low of $23.63 and a 12 month high of $32.40. The firm’s fifty day simple moving average is $25.68 and its 200-day simple moving average is $28.08. The stock has a market cap of $6.04 billion, a PE ratio of 13.47, a PEG ratio of 1.80 and a beta of 0.63.

Dropbox (NASDAQ:DBX) last issued its quarterly earnings results on Thursday, February 19th. The company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.66 by $0.02. The company had revenue of $636.20 million for the quarter, compared to the consensus estimate of $627.83 million. Dropbox had a net margin of 20.17% and a negative return on equity of 37.47%. The firm’s revenue was down 1.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.73 EPS. Analysts expect that Dropbox, Inc. will post 1.64 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on DBX shares. Wall Street Zen lowered Dropbox from a “buy” rating to a “hold” rating in a research note on Friday, January 23rd. JPMorgan Chase & Co. reduced their target price on Dropbox from $29.00 to $25.00 and set a “neutral” rating on the stock in a research note on Friday, February 20th. UBS Group decreased their target price on Dropbox from $27.00 to $23.00 and set a “sell” rating for the company in a research report on Friday, February 20th. Weiss Ratings restated a “hold (c+)” rating on shares of Dropbox in a report on Wednesday, January 21st. Finally, Royal Bank Of Canada reduced their price target on shares of Dropbox from $35.00 to $30.00 and set an “outperform” rating on the stock in a research note on Friday, February 20th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Dropbox currently has an average rating of “Hold” and an average price target of $27.50.

Institutional Investors Weigh In On Dropbox

Several hedge funds have recently made changes to their positions in DBX. LSV Asset Management increased its stake in shares of Dropbox by 1.1% during the fourth quarter. LSV Asset Management now owns 11,735,641 shares of the company’s stock valued at $326,251,000 after buying an additional 121,999 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in Dropbox by 11.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 7,573,627 shares of the company’s stock worth $210,547,000 after acquiring an additional 767,119 shares during the period. Jacobs Levy Equity Management Inc. lifted its stake in Dropbox by 1.4% in the third quarter. Jacobs Levy Equity Management Inc. now owns 5,095,485 shares of the company’s stock worth $153,935,000 after acquiring an additional 70,867 shares during the period. Allianz Asset Management GmbH grew its holdings in Dropbox by 28.1% during the 4th 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 in the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its position in Dropbox by 22.5% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 2,518,534 shares of the company’s stock valued at $70,015,000 after purchasing an additional 463,258 shares during the period. 94.84% of the stock is currently owned by hedge funds and other institutional investors.

About Dropbox

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.