Insider Selling: Dropbox (NASDAQ:DBX) CAO Sells 1,631 Shares of Stock

Dropbox, Inc. (NASDAQ:DBXGet 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.

Dropbox (NASDAQ:DBXGet 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. The company had revenue of $631.50 million for the quarter, compared to the consensus estimate of $626.69 million. Dropbox had a negative return on equity of 24.26% and a net margin of 17.49%.The company’s quarterly revenue was up .9% on a year-over-year basis. During the same period in the previous year, the business earned $0.71 earnings per share. On average, equities analysts anticipate that Dropbox, Inc. will post 1.93 earnings per share for the current fiscal year.

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

(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.

Further Reading

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

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