Sarah Elizabeth Schubach Sells 1,306 Shares of Dropbox (NASDAQ:DBX) Stock

Dropbox, Inc. (NASDAQ:DBX) CAO Sarah Elizabeth Schubach sold 1,306 shares of the stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $26.90, for a total transaction of $35,131.40. Following the completion of the transaction, the chief accounting officer directly owned 128,509 shares of the company’s stock, valued at approximately $3,456,892.10. The trade was a 1.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 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 value of $36,096.30.
• On Tuesday, May 19th, Sarah Elizabeth Schubach sold 1,306 shares of Dropbox stock. The stock was sold at an average price of $28.14, for a total value of $36,750.84.
• On Thursday, April 30th, Sarah Elizabeth Schubach sold 1,769 shares of Dropbox stock. The stock was sold at an average price of $23.95, for a total value of $42,367.55.
• On Wednesday, April 15th, Sarah Elizabeth Schubach sold 1,415 shares of Dropbox stock. The stock was sold at an average price of $22.99, for a total value of $32,530.85.
• On Tuesday, March 31st, Sarah Elizabeth Schubach sold 1,416 shares of Dropbox stock. The shares were sold at an average price of $22.60, for a total value of $32,001.60.

Dropbox Stock Down 1.7%

NASDAQ DBX opened at $25.97 on Friday. The firm has a market capitalization of $6.06 billion, a PE ratio of 14.19, a P/E/G ratio of 2.89 and a beta of 0.67. The stock’s 50 day moving average is $25.83 and its 200 day moving average is $26.01. Dropbox, Inc. has a twelve month low of $21.69 and a twelve month high of $32.40.

Dropbox (NASDAQ:DBX) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.05. The business had revenue of $629.50 million during the quarter, compared to the consensus estimate of $620.56 million. Dropbox had a negative return on equity of 30.01% and a net margin of 18.71%.The firm’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.70 earnings per share. On average, research analysts anticipate that Dropbox, Inc. will post 2.09 earnings per share for the current year.

Analyst Upgrades and Downgrades

DBX has been the subject of a number of recent research reports. William Blair reissued an “underperform” rating on shares of Dropbox in a research report on Monday, March 23rd. Citigroup upped their price objective on shares of Dropbox from $27.00 to $28.00 and gave the stock a “neutral” rating in a report on Monday, May 11th. Wall Street Zen raised shares of Dropbox from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. JPMorgan Chase & Co. lowered their target price on shares of Dropbox from $29.00 to $25.00 and set a “neutral” rating for the company in a report on Friday, February 20th. Finally, Royal Bank Of Canada reissued an “outperform” rating on shares of Dropbox in a research report on Monday, June 1st. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $27.00.

Hedge Funds Weigh In On Dropbox

Several large investors have recently modified their holdings of DBX. WealthCollab LLC boosted its stake in Dropbox by 20.6% in the 4th quarter. WealthCollab LLC now owns 2,356 shares of the company’s stock worth $65,000 after purchasing an additional 403 shares in the last quarter. Parallel Advisors LLC raised its holdings in Dropbox by 8.3% in the fourth quarter. Parallel Advisors LLC now owns 5,765 shares of the company’s stock worth $160,000 after buying an additional 440 shares during the last quarter. Lakewood Asset Management LLC raised its holdings in Dropbox by 1.0% in the fourth quarter. Lakewood Asset Management LLC now owns 44,905 shares of the company’s stock worth $1,248,000 after buying an additional 458 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Dropbox by 1.8% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 26,254 shares of the company’s stock worth $730,000 after buying an additional 466 shares in the last quarter. Finally, Merit Financial Group LLC lifted its stake in shares of Dropbox by 4.4% in the third quarter. Merit Financial Group LLC now owns 11,385 shares of the company’s stock worth $344,000 after buying an additional 480 shares in the last quarter. Hedge funds and other 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.