Insider Selling: Dropbox (NASDAQ:DBX) CAO Sells $32,001.60 in Stock

Dropbox, Inc. (NASDAQ:DBX) CAO Sarah Elizabeth Schubach sold 1,416 shares of the firm’s stock in a transaction on Tuesday, March 31st. The shares were sold at an average price of $22.60, for a total transaction of $32,001.60. Following the completion of the transaction, the chief accounting officer directly owned 82,073 shares in the company, valued at approximately $1,854,849.80. This represents a 1.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible 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, 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.
• 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 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 stock was sold at an average price of $26.84, for a total transaction of $31,349.12.

Dropbox Stock Performance

Shares of NASDAQ:DBX opened at $23.40 on Friday. The company has a fifty day simple moving average of $24.88 and a 200 day simple moving average of $27.48. The firm has a market cap of $5.64 billion, a PE ratio of 12.58, a price-to-earnings-growth ratio of 1.65 and a beta of 0.61. Dropbox, Inc. has a 12-month low of $22.00 and a 12-month high of $32.40.

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

Institutional Investors Weigh In On Dropbox

Several large investors have recently made changes to their positions in DBX. LSV Asset Management boosted its position in shares of Dropbox by 38.1% during the third 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 during the period. Norges Bank acquired a new stake in Dropbox in the 4th quarter valued at approximately $69,909,000. Arbejdsmarkedets Tillaegspension bought a new stake in Dropbox during the 4th quarter valued at $22,050,000. Arrowstreet Capital Limited Partnership boosted its position in Dropbox by 11.3% during the 4th 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. Finally, Allianz Asset Management GmbH boosted its position 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 acquiring an additional 686,577 shares during the period. Institutional investors and hedge funds own 94.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on DBX. Wall Street Zen downgraded Dropbox from a “buy” rating to a “hold” rating in a research note on Friday, January 23rd. JPMorgan Chase & Co. cut their price objective on Dropbox from $29.00 to $25.00 and set a “neutral” rating on the stock in a research note on Friday, February 20th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Dropbox in a report on Wednesday, January 21st. Royal Bank Of Canada decreased their price target on shares of Dropbox from $35.00 to $30.00 and set an “outperform” rating for the company in a report on Friday, February 20th. Finally, UBS Group dropped their target price on Dropbox from $27.00 to $23.00 and set a “sell” rating on the stock in a research report on Friday, February 20th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $27.50.

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.