Sarah Elizabeth Schubach Sells 1,632 Shares of Dropbox (NASDAQ:DBX) Stock

Dropbox, Inc. (NASDAQ:DBX) CAO Sarah Elizabeth Schubach sold 1,632 shares of the business’s stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $31.61, for a total value of $51,587.52. Following the completion of the transaction, the chief accounting officer directly owned 124,266 shares of the company’s stock, valued at $3,928,048.26. The trade was a 1.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available 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 value of $35,378.55.
• On Monday, June 15th, Sarah Elizabeth Schubach sold 1,306 shares of Dropbox stock. The stock was sold at an average price of $26.90, for a total transaction of $35,131.40.
• On Monday, June 1st, Sarah Elizabeth Schubach sold 1,305 shares of Dropbox stock. The shares were sold at an average price of $27.66, for a total transaction 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 transaction of $36,750.84.

Dropbox Price Performance

DBX opened at $35.00 on Thursday. The firm has a fifty day moving average price of $28.76 and a 200 day moving average price of $26.35. Dropbox, Inc. has a 1 year low of $21.69 and a 1 year high of $35.17. The stock has a market cap of $8.17 billion, a P/E ratio of 19.13, a P/E/G ratio of 3.78 and a beta of 0.64.

Dropbox (NASDAQ:DBX) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.71 by $0.05. Dropbox had a net margin of 18.71% and a negative return on equity of 30.01%. The company had revenue of $629.50 million for the quarter, compared to analyst estimates of $620.56 million. During the same quarter last year, the business earned $0.70 earnings per share. The firm’s revenue was up .8% on a year-over-year basis. Equities analysts expect that Dropbox, Inc. will post 2.09 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of DBX. Norges Bank acquired a new position in shares of Dropbox in the 4th quarter worth approximately $69,909,000. Arrowstreet Capital Limited Partnership increased its holdings in Dropbox by 12.7% in 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 during the last quarter. Arbejdsmarkedets Tillaegspension acquired a new stake in Dropbox in the 4th quarter valued at approximately $22,050,000. Wedge Capital Management L L P NC raised its position in Dropbox by 26.4% in the second 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 purchasing an additional 627,111 shares during the period. Finally, Allianz Asset Management GmbH raised its position in Dropbox by 28.1% in the fourth quarter. Allianz Asset Management GmbH now owns 2,720,372 shares of the company’s stock valued at $75,626,000 after purchasing an additional 596,440 shares during the period. Institutional investors and hedge funds own 94.84% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on DBX. Royal Bank Of Canada reissued an “outperform” rating on shares of Dropbox in a research note on Monday, June 1st. Citigroup upped their price objective on shares of Dropbox from $27.00 to $28.00 and gave the company a “neutral” rating in a research note on Monday, May 11th. Wall Street Zen upgraded shares of Dropbox from a “hold” rating to a “buy” rating in a report on Sunday, June 28th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Dropbox in a research note on Friday, July 31st. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $27.00.

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.