Dropbox, Inc. (NASDAQ:DBX – Get Free Report) CAO Sarah Elizabeth Schubach sold 1,631 shares of the company’s stock in a transaction on Monday, August 31st. The shares were sold at an average price of $35.50, for a total value of $57,900.50. Following the completion of the transaction, the chief accounting officer owned 115,150 shares of the company’s stock, valued at $4,087,825. The trade was a 1.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through 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 Thursday, August 20th, Sarah Elizabeth Schubach sold 1,631 shares of Dropbox stock. The stock was sold at an average price of $34.01, for a total transaction of $55,470.31.
- On Friday, July 31st, Sarah Elizabeth Schubach sold 1,632 shares of Dropbox stock. The shares were 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 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 transaction of $35,131.40.
Dropbox Trading Up 0.7%
NASDAQ:DBX traded up $0.24 during mid-day trading on Wednesday, hitting $34.50. The company’s stock had a trading volume of 3,458,843 shares, compared to its average volume of 4,087,673. The company has a market capitalization of $7.79 billion, a price-to-earnings ratio of 19.17, a P/E/G ratio of 5.07 and a beta of 0.65. Dropbox, Inc. has a fifty-two week low of $21.69 and a fifty-two week high of $36.37. The stock has a fifty day moving average of $31.78 and a 200-day moving average of $27.62.
Analyst Ratings Changes
Several equities research analysts have recently commented on the stock. Wall Street Zen downgraded shares of Dropbox from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Zacks Research lowered shares of Dropbox from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 19th. Weiss Ratings raised shares of Dropbox from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, August 13th. Bank of America reaffirmed an “underperform” rating on shares of Dropbox in a report on Friday, August 7th. Finally, Royal Bank Of Canada reiterated an “outperform” rating on shares of Dropbox in a research note on Monday, June 1st. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $28.25.
Get Our Latest Report on Dropbox
Institutional Investors Weigh In On Dropbox
A number of hedge funds have recently added to or reduced their stakes in the stock. Palisade Asset Management LLC acquired a new position in shares of Dropbox during the third quarter worth approximately $30,000. Kestra Advisory Services LLC acquired a new stake in shares of Dropbox in the fourth quarter valued at approximately $31,000. Larson Financial Group LLC raised its position in Dropbox by 228.0% in the 4th quarter. Larson Financial Group LLC now owns 1,138 shares of the company’s stock worth $32,000 after purchasing an additional 791 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings in Dropbox by 78.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 1,273 shares of the company’s stock worth $36,000 after buying an additional 558 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new position in Dropbox during the 4th quarter worth $38,000. Institutional investors own 94.84% of the company’s stock.
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.
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