Dropbox (NASDAQ:DBX) CAO Sarah Elizabeth Schubach Sells 1,305 Shares

Dropbox, Inc. (NASDAQ:DBX) CAO Sarah Elizabeth Schubach sold 1,305 shares of Dropbox stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $27.66, for a total value of $36,096.30. Following the completion of the transaction, the chief accounting officer owned 129,815 shares in the company, valued at $3,590,682.90. The trade was a 1.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 Tuesday, May 19th, Sarah Elizabeth Schubach sold 1,306 shares of Dropbox stock. The stock was sold at an average price of $28.14, for a total value of $36,750.84.
• On Thursday, April 30th, Sarah Elizabeth Schubach sold 1,769 shares of Dropbox stock. The stock was sold at an average price of $23.95, for a total value of $42,367.55.
• On Wednesday, April 15th, Sarah Elizabeth Schubach sold 1,415 shares of Dropbox stock. The stock was sold at an average price of $22.99, for a total value of $32,530.85.
• On Tuesday, March 31st, Sarah Elizabeth Schubach sold 1,416 shares of Dropbox stock. The stock was sold at an average price of $22.60, for a total value 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 value of $36,450.40.

Dropbox Stock Down 2.0%

Dropbox stock opened at $27.60 on Thursday. The business has a 50 day moving average price of $24.94 and a two-hundred day moving average price of $26.21. The stock has a market cap of $6.44 billion, a price-to-earnings ratio of 15.08, a price-to-earnings-growth ratio of 3.08 and a beta of 0.67. Dropbox, Inc. has a 12 month low of $21.69 and a 12 month high of $32.40.

Dropbox (NASDAQ:DBX) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.71 by $0.05. The firm had revenue of $629.50 million during the quarter, compared to analysts’ expectations of $620.56 million. Dropbox had a negative return on equity of 30.01% and a net margin of 18.71%.The company’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.70 EPS. On average, analysts expect that Dropbox, Inc. will post 2.09 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of DBX. LSV Asset Management lifted its holdings in Dropbox by 38.1% during the 3rd quarter. LSV Asset Management now owns 11,613,642 shares of the company’s stock worth $350,848,000 after buying an additional 3,205,140 shares in the last quarter. Norges Bank acquired a new position in Dropbox during the 4th quarter worth $69,909,000. Arrowstreet Capital Limited Partnership lifted its holdings in Dropbox by 12.7% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 8,533,736 shares of the company’s stock worth $193,886,000 after buying an additional 960,109 shares in the last quarter. Arbejdsmarkedets Tillaegspension acquired a new position in Dropbox during the 4th quarter worth $22,050,000. Finally, Allianz Asset Management GmbH lifted its holdings in Dropbox by 47.8% during the 3rd quarter. Allianz Asset Management GmbH now owns 2,123,932 shares of the company’s stock worth $64,164,000 after buying an additional 686,577 shares in the last quarter. Institutional investors and hedge funds own 94.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on DBX shares. JPMorgan Chase & Co. decreased their price objective on Dropbox from $29.00 to $25.00 and set a “neutral” rating on the stock in a report on Friday, February 20th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Dropbox in a report on Monday, May 4th. Wall Street Zen raised Dropbox from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. UBS Group decreased their price objective on Dropbox from $27.00 to $23.00 and set a “sell” rating on the stock in a report on Friday, February 20th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Dropbox in a report on Monday. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $27.00.

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.