Sarah Elizabeth Schubach Sells 1,631 Shares of Dropbox (NASDAQ:DBX) Stock

Dropbox, Inc. (NASDAQ:DBXGet Free Report) CAO Sarah Elizabeth Schubach sold 1,631 shares of Dropbox stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $34.01, for a total transaction of $55,470.31. Following the completion of the sale, the chief accounting officer directly owned 116,781 shares in the company, valued at approximately $3,971,721.81. The trade was a 1.38% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Sarah Elizabeth Schubach also recently made the following trade(s):

  • On Friday, July 31st, Sarah Elizabeth Schubach sold 1,632 shares of Dropbox stock. The stock was sold at an average price of $31.61, for a total transaction of $51,587.52.
  • On Tuesday, June 30th, Sarah Elizabeth Schubach sold 1,305 shares of Dropbox stock. The shares were 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.

Dropbox Trading Down 0.3%

NASDAQ DBX opened at $34.78 on Wednesday. The stock has a market capitalization of $7.85 billion, a price-to-earnings ratio of 19.32, a PEG ratio of 5.14 and a beta of 0.64. The business’s 50 day moving average is $30.71 and its two-hundred day moving average is $27.18. Dropbox, Inc. has a 12-month low of $21.69 and a 12-month high of $36.30.

Dropbox (NASDAQ:DBXGet Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.74 by $0.01. Dropbox had a negative return on equity of 24.26% and a net margin of 17.49%.The business had revenue of $631.50 million during the quarter, compared to analysts’ expectations of $626.69 million. During the same period last year, the firm earned $0.71 EPS. The company’s quarterly revenue was up .9% compared to the same quarter last year. Equities analysts forecast that Dropbox, Inc. will post 1.94 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Dropbox

Large investors have recently added to or reduced their stakes in the business. California State Teachers Retirement System lifted its holdings in shares of Dropbox by 2,565.8% in the second quarter. California State Teachers Retirement System now owns 5,504,631 shares of the company’s stock valued at $151,212,000 after purchasing an additional 5,298,138 shares in the last quarter. Norges Bank purchased a new position in shares of Dropbox during the 4th quarter worth approximately $69,909,000. Arrowstreet Capital Limited Partnership raised its position in shares of Dropbox by 12.7% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 8,533,736 shares of the company’s stock worth $193,886,000 after purchasing an additional 960,109 shares during the last quarter. Arbejdsmarkedets Tillaegspension acquired a new position in shares of Dropbox during the 4th quarter worth approximately $22,050,000. Finally, Wedge Capital Management L L P NC lifted its stake in Dropbox by 26.4% in the 2nd quarter. Wedge Capital Management L L P NC now owns 3,005,173 shares of the company’s stock valued at $82,552,000 after buying an additional 627,111 shares in the last quarter. 94.84% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently commented on DBX shares. Royal Bank Of Canada reissued an “outperform” rating on shares of Dropbox in a report on Monday, June 1st. Citigroup increased their target price on shares of Dropbox from $28.00 to $33.00 and gave the company a “neutral” rating in a report on Friday, August 7th. Weiss Ratings raised Dropbox from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, August 13th. Bank of America reissued an “underperform” rating on shares of Dropbox in a research note on Friday, August 7th. Finally, William Blair raised Dropbox from an “underperform” rating to a “market perform” rating in a research note on Friday, August 7th. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $28.25.

View Our Latest Analysis on Dropbox

Dropbox Company Profile

(Get Free Report)

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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Insider Buying and Selling by Quarter for Dropbox (NASDAQ:DBX)

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