Dropbox, Inc. (NASDAQ:DBX – Get Free Report) CAO Sarah Schubach sold 2,056 shares of the business’s stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $35.79, for a total value of $73,584.24. Following the completion of the sale, the chief accounting officer directly owned 130,821 shares of the company’s stock, valued at approximately $4,682,083.59. This trade represents a 1.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available 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 Wednesday, September 30th, Sarah Schubach sold 2,025 shares of Dropbox stock. The shares were sold at an average price of $32.54, for a total value of $65,893.50.
- On Tuesday, September 15th, Sarah Schubach sold 2,025 shares of Dropbox stock. The stock was sold at an average price of $36.78, for a total value of $74,479.50.
- On Monday, August 31st, Sarah Schubach sold 1,631 shares of Dropbox stock. The stock was sold at an average price of $35.50, for a total value of $57,900.50.
- On Thursday, August 20th, Sarah Schubach sold 1,631 shares of Dropbox stock. The stock was sold at an average price of $34.01, for a total value of $55,470.31.
- On Friday, July 31st, Sarah Schubach sold 1,632 shares of Dropbox stock. The stock was sold at an average price of $31.61, for a total value of $51,587.52.
Dropbox Stock Performance
Shares of DBX stock opened at $36.59 on Thursday. Dropbox, Inc. has a fifty-two week low of $21.69 and a fifty-two week high of $38.17. The stock has a 50 day moving average price of $34.87 and a two-hundred day moving average price of $30.14. The company has a market capitalization of $8.26 billion, a P/E ratio of 20.33, a PEG ratio of 5.35 and a beta of 0.63.
Dropbox (NASDAQ:DBX – Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.01. Dropbox had a negative return on equity of 24.26% and a net margin of 17.49%. The firm had revenue of $631.50 million during the quarter, compared to analyst estimates of $626.69 million. During the same quarter in the prior year, the firm posted $0.71 earnings per share. The business’s quarterly revenue was up .9% compared to the same quarter last year. As a group, equities analysts predict that Dropbox, Inc. will post 1.94 earnings per share for the current year.
Hedge Funds Weigh In On Dropbox
A number of institutional investors have recently bought and sold shares of DBX. Elevation Wealth Partners LLC boosted its position in Dropbox by 63.0% during the 3rd quarter. Elevation Wealth Partners LLC now owns 1,363 shares of the company’s stock valued at $46,000 after acquiring an additional 527 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Dropbox by 68.1% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,052 shares of the company’s stock worth $47,000 after acquiring an additional 831 shares during the period. Farther Finance Advisors LLC grew its holdings in shares of Dropbox by 166.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,617 shares of the company’s stock worth $89,000 after acquiring an additional 1,635 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in shares of Dropbox during the 4th quarter worth approximately $103,000. Finally, Founders Grove Wealth Partners LLC bought a new position in shares of Dropbox in the 3rd quarter worth approximately $252,000. 94.84% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently commented on the stock. Zacks Research upgraded shares of Dropbox from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 6th. William Blair raised shares of Dropbox from an “underperform” rating to a “market perform” rating in a report on Friday, August 7th. Wall Street Zen lowered shares of Dropbox from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Weiss Ratings upgraded shares of Dropbox from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, August 13th. Finally, Bank of America reaffirmed an “underperform” rating on shares of Dropbox in a research note on Friday, August 7th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $29.75.
Check Out Our Latest Stock Report on Dropbox
About Dropbox
Dropbox, Inc (NASDAQ: DBX) is a software company that provides cloud-based tools for storing, organizing, sharing and collaborating on files. Its platform enables individuals, businesses and teams to access documents, photos and other content across connected devices, synchronize files and manage shared workflows.
The company’s offerings include Dropbox for cloud storage and file collaboration, Dropbox Paper for shared documents and project work, Dropbox Sign for electronic signatures, and DocSend for securely sharing and tracking business documents.
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