Insider Selling: Dropbox (NASDAQ:DBX) CAO Sells $35,035.40 in Stock

Dropbox, Inc. (NASDAQ:DBX) CAO Sarah Elizabeth Schubach sold 1,415 shares of the company’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $24.76, for a total value of $35,035.40. Following the completion of the transaction, the chief accounting officer directly owned 84,904 shares in the company, valued at approximately $2,102,223.04. The trade was a 1.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Wednesday, February 18th, Sarah Elizabeth Schubach sold 1,416 shares of Dropbox stock. The shares were sold at an average price of $24.49, for a total value of $34,677.84.
• On Thursday, January 15th, Sarah Elizabeth Schubach sold 1,168 shares of Dropbox stock. The shares were sold at an average price of $26.84, for a total value of $31,349.12.
• On Monday, December 29th, Sarah Elizabeth Schubach sold 1,168 shares of Dropbox stock. The shares were sold at an average price of $27.88, for a total value of $32,563.84.

Dropbox Stock Performance

NASDAQ:DBX opened at $26.79 on Friday. The company has a market capitalization of $6.46 billion, a P/E ratio of 14.40, a P/E/G ratio of 1.86 and a beta of 0.63. The stock’s 50 day moving average price is $25.89 and its 200 day moving average price is $28.22. Dropbox, Inc. has a 52 week low of $23.63 and a 52 week high of $32.40.

Dropbox (NASDAQ:DBX) last posted its earnings results on Thursday, February 19th. The company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.02. Dropbox had a net margin of 20.17% and a negative return on equity of 37.47%. The firm had revenue of $636.20 million during the quarter, compared to analysts’ expectations of $627.83 million. During the same period in the previous year, the company earned $0.73 earnings per share. The company’s revenue was down 1.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Dropbox, Inc. will post 1.64 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Dropbox

Several hedge funds have recently modified their holdings of the business. Empowered Funds LLC grew its stake in shares of Dropbox by 7.3% in the first quarter. Empowered Funds LLC now owns 38,795 shares of the company’s stock worth $1,036,000 after acquiring an additional 2,655 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in Dropbox by 17.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 128,398 shares of the company’s stock valued at $3,672,000 after purchasing an additional 18,849 shares during the last quarter. Arkadios Wealth Advisors bought a new stake in Dropbox in the 2nd quarter valued at $302,000. Atria Investments Inc acquired a new stake in Dropbox in the 2nd quarter worth $292,000. Finally, Hussman Strategic Advisors Inc. acquired a new stake in Dropbox in the 2nd quarter worth $2,402,000. 94.84% of the stock is owned by institutional investors.

Analyst Ratings Changes

DBX has been the subject of a number of recent research reports. Royal Bank Of Canada decreased their price objective on shares of Dropbox from $35.00 to $30.00 and set an “outperform” rating for the company in a report on Friday, February 20th. UBS Group reduced their price target on Dropbox from $27.00 to $23.00 and set a “sell” rating for the company in a research report on Friday, February 20th. Wall Street Zen downgraded Dropbox from a “buy” rating to a “hold” rating in a research note on Friday, January 23rd. JPMorgan Chase & Co. lowered their price objective on Dropbox from $29.00 to $25.00 and set a “neutral” rating on the stock in a report on Friday, February 20th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Dropbox in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $27.50.

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.