Insider Selling: Dropbox (NASDAQ:DBX) CAO Sells $36,750.84 in Stock

Dropbox, Inc. (NASDAQ:DBX) CAO Sarah Elizabeth Schubach sold 1,306 shares of the company’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $28.14, for a total transaction of $36,750.84. Following the completion of the sale, the chief accounting officer directly owned 131,120 shares in the company, valued at $3,689,716.80. This represents a 0.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• 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 transaction 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 transaction of $32,530.85.
• On Tuesday, March 31st, Sarah Elizabeth Schubach sold 1,416 shares of Dropbox stock. The stock was sold at an average price of $22.60, for a total transaction of $32,001.60.
• On Monday, March 16th, Sarah Elizabeth Schubach sold 1,415 shares of Dropbox stock. The stock was sold at an average price of $25.76, for a total transaction of $36,450.40.
• On Monday, March 2nd, Sarah Elizabeth Schubach sold 1,415 shares of Dropbox stock. The shares were sold at an average price of $24.76, for a total transaction of $35,035.40.
• 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 transaction of $34,677.84.

Dropbox Stock Performance

DBX opened at $27.25 on Friday. The stock has a market capitalization of $6.36 billion, a P/E ratio of 14.89, a P/E/G ratio of 3.11 and a beta of 0.64. The company’s 50-day simple moving average is $24.60 and its two-hundred day simple moving average is $26.38. Dropbox, Inc. has a 52-week low of $21.69 and a 52-week high of $32.40.

Dropbox (NASDAQ:DBX) last posted its earnings results on Thursday, May 7th. The company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.05. The business had revenue of $629.50 million for the quarter, compared to analysts’ expectations of $620.56 million. Dropbox had a net margin of 18.71% and a negative return on equity of 30.01%. The business’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.70 EPS. Research analysts forecast that Dropbox, Inc. will post 2.03 EPS for the current fiscal year.

Institutional Investors Weigh In On Dropbox

A number of institutional investors have recently added to or reduced their stakes in the stock. WealthCollab LLC grew its holdings in Dropbox by 20.6% during the 4th quarter. WealthCollab LLC now owns 2,356 shares of the company’s stock valued at $65,000 after buying an additional 403 shares in the last quarter. Parallel Advisors LLC grew its holdings in Dropbox by 8.3% during the 4th quarter. Parallel Advisors LLC now owns 5,765 shares of the company’s stock valued at $160,000 after buying an additional 440 shares in the last quarter. Lakewood Asset Management LLC grew its holdings in Dropbox by 1.0% during the 4th quarter. Lakewood Asset Management LLC now owns 44,905 shares of the company’s stock valued at $1,248,000 after buying an additional 458 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in Dropbox by 1.8% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 26,254 shares of the company’s stock valued at $730,000 after buying an additional 466 shares in the last quarter. Finally, Merit Financial Group LLC grew its holdings in Dropbox by 4.4% during the 3rd quarter. Merit Financial Group LLC now owns 11,385 shares of the company’s stock valued at $344,000 after buying an additional 480 shares in the last quarter. 94.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on DBX shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Dropbox in a research note on Monday, May 4th. William Blair reiterated an “underperform” rating on shares of Dropbox in a research note on Monday, March 23rd. Citigroup increased their price objective on shares of Dropbox from $27.00 to $28.00 and gave the stock 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 research note on Saturday, May 16th. Finally, Royal Bank Of Canada increased their price objective on shares of Dropbox from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Dropbox currently has a consensus 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.