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

Dropbox, Inc. (NASDAQ:DBX) CAO Sarah Elizabeth Schubach sold 1,415 shares of the business’s stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $22.99, for a total value of $32,530.85. Following the completion of the transaction, the chief accounting officer owned 137,875 shares of the company’s stock, valued at $3,169,746.25. This represents a 1.02% decrease in their position. The transaction was disclosed in a legal filing 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 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 stock was 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 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 value of $34,677.84.

Dropbox Price Performance

DBX stock opened at $24.27 on Friday. Dropbox, Inc. has a 1-year low of $21.69 and a 1-year high of $32.40. The business has a fifty day moving average price of $24.39 and a 200-day moving average price of $26.93. The stock has a market capitalization of $5.85 billion, a P/E ratio of 13.05, a P/E/G ratio of 1.70 and a beta of 0.61.

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

Institutional Trading of Dropbox

A number of hedge funds have recently bought and sold shares of the company. Rossby Financial LCC grew its holdings in Dropbox by 128.5% during the third quarter. Rossby Financial LCC now owns 937 shares of the company’s stock valued at $28,000 after purchasing an additional 527 shares during the period. Palisade Asset Management LLC bought a new stake in Dropbox during the third quarter valued at about $30,000. First Horizon Corp bought a new stake in Dropbox during the third quarter valued at about $31,000. Kestra Advisory Services LLC bought a new stake in Dropbox during the fourth quarter valued at about $31,000. Finally, Larson Financial Group LLC grew its holdings in Dropbox by 228.0% during the fourth quarter. Larson Financial Group LLC now owns 1,138 shares of the company’s stock valued at $32,000 after purchasing an additional 791 shares during the period. Hedge funds and other institutional investors own 94.84% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.