Insider Selling: Dropbox (NASDAQ:DBX) CAO Sells $51,587.52 in Stock

Dropbox, Inc. (NASDAQ:DBXGet 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.

Dropbox (NASDAQ:DBXGet Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.01. Dropbox had a net margin of 18.71% and a negative return on equity of 30.01%. The business had revenue of $631.50 million for the quarter, compared to analyst estimates of $626.69 million. During the same period in the prior year, the firm posted $0.71 EPS. The company’s revenue was up .9% on a year-over-year basis. Equities research analysts anticipate that Dropbox, Inc. will post 2.09 earnings per share for the current year.

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.

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Dropbox Company Profile

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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.

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