Dropbox, Inc. (NASDAQ:DBX – Get Free Report) CAO Sarah Elizabeth Schubach sold 1,632 shares of the firm’s stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $31.61, for a total transaction of $51,587.52. Following the sale, the chief accounting officer directly owned 124,266 shares in the company, valued at $3,928,048.26. This represents a 1.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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, June 30th, Sarah Elizabeth Schubach sold 1,305 shares of Dropbox stock. The stock was sold at an average price of $27.11, for a total transaction of $35,378.55.
- On Monday, June 15th, Sarah Elizabeth Schubach sold 1,306 shares of Dropbox stock. The shares were sold at an average price of $26.90, for a total value of $35,131.40.
- On Monday, June 1st, Sarah Elizabeth Schubach sold 1,305 shares of Dropbox stock. The stock was sold at an average price of $27.66, for a total value of $36,096.30.
- On Tuesday, May 19th, Sarah Elizabeth Schubach sold 1,306 shares of Dropbox stock. The shares were sold at an average price of $28.14, for a total value of $36,750.84.
Dropbox Price Performance
DBX opened at $34.54 on Friday. Dropbox, Inc. has a 12 month low of $21.69 and a 12 month high of $35.17. The business has a 50-day moving average of $28.92 and a two-hundred day moving average of $26.40. The stock has a market capitalization of $8.06 billion, a price-to-earnings ratio of 18.87, a price-to-earnings-growth ratio of 3.83 and a beta of 0.64.
Institutional Investors Weigh In On Dropbox
Several institutional investors have recently bought and sold shares of the business. Norges Bank acquired a new position in shares of Dropbox in the fourth quarter worth about $69,909,000. Arrowstreet Capital Limited Partnership grew its stake in Dropbox by 12.7% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 8,533,736 shares of the company’s stock valued at $193,886,000 after purchasing an additional 960,109 shares in the last quarter. Arbejdsmarkedets Tillaegspension acquired a new stake in Dropbox during the 4th quarter valued at approximately $22,050,000. Wedge Capital Management L L P NC increased its holdings in Dropbox by 26.4% during the 2nd quarter. Wedge Capital Management L L P NC now owns 3,005,173 shares of the company’s stock worth $82,552,000 after purchasing an additional 627,111 shares during the last quarter. Finally, Allianz Asset Management GmbH increased 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 purchasing an additional 596,440 shares during the last quarter. 94.84% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of research firms have weighed in on DBX. Wall Street Zen raised shares of Dropbox from a “hold” rating to a “buy” rating in a research note on Sunday, June 28th. William Blair raised shares of Dropbox to a “market perform” rating in a research note on Friday. Royal Bank Of Canada restated an “outperform” rating on shares of Dropbox in a report on Monday, June 1st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Dropbox in a research report on Friday, July 31st. Finally, Citigroup lifted their target price on Dropbox from $27.00 to $28.00 and gave the company a “neutral” rating in a report on Monday, May 11th. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Dropbox has an average rating of “Hold” and an average target price of $27.00.
Get Our Latest Research Report on Dropbox
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.
Recommended Stories
- Five stocks we like better than Dropbox
- Sandisk Just Delivered a Blowout Quarter—Here’s Why the Stock Is Falling
- 4 Oil and Gas ETF Plays as Prices Stay Sky-High
- What Tesla Stands to Lose If It Walks Away From China
- Disney Sets Up for a Magical Year in 2027
Receive News & Ratings for Dropbox Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dropbox and related companies with MarketBeat.com's FREE daily email newsletter.
