Dropbox (NASDAQ:DBX) CAO Sells $57,900.50 in Stock

Dropbox, Inc. (NASDAQ:DBX) CAO Sarah Elizabeth Schubach sold 1,631 shares of Dropbox stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $35.50, for a total value of $57,900.50. Following the completion of the sale, the chief accounting officer owned 115,150 shares of the company’s stock, valued at approximately $4,087,825. The trade was a 1.40% decrease in their ownership of the stock. The sale 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.

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 shares were 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 stock was 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 Stock Performance

DBX traded up $0.24 during trading on Wednesday, reaching $34.50. 3,458,843 shares of the company’s stock were exchanged, compared to its average volume of 4,087,673. The company’s fifty day moving average price is $31.78 and its 200-day moving average price is $27.62. The firm has a market capitalization of $7.79 billion, a PE 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.

Dropbox (NASDAQ:DBX) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.01. The company had revenue of $631.50 million for the quarter, compared to analysts’ expectations of $626.69 million. Dropbox had a net margin of 17.49% and a negative return on equity of 24.26%. The business’s quarterly revenue was up .9% compared to the same quarter last year. During the same period last year, the firm posted $0.71 earnings per share. Research analysts forecast that Dropbox, Inc. will post 1.93 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of DBX. Empowered Funds LLC lifted its stake in shares of Dropbox by 7.3% in the 1st quarter. Empowered Funds LLC now owns 38,795 shares of the company’s stock valued at $1,036,000 after purchasing an additional 2,655 shares during the period. Cetera Investment Advisers increased its holdings in Dropbox by 10.8% in the second quarter. Cetera Investment Advisers now owns 24,623 shares of the company’s stock worth $704,000 after purchasing an additional 2,405 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Dropbox by 88.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,681 shares of the company’s stock worth $48,000 after buying an additional 787 shares during the period. Cresset Asset Management LLC grew its position in shares of Dropbox by 75.8% during the 2nd quarter. Cresset Asset Management LLC now owns 15,230 shares of the company’s stock worth $436,000 after buying an additional 6,569 shares during the period. Finally, Federated Hermes Inc. increased its stake in shares of Dropbox by 360.9% in the 2nd quarter. Federated Hermes Inc. now owns 117,852 shares of the company’s stock valued at $3,371,000 after acquiring an additional 92,280 shares in the last quarter. Institutional investors and hedge funds own 94.84% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Weiss Ratings raised Dropbox from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, August 13th. William Blair upgraded Dropbox from an “underperform” rating to a “market perform” rating in a research report on Friday, August 7th. Wall Street Zen downgraded Dropbox from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Bank of America reaffirmed an “underperform” rating on shares of Dropbox in a research note on Friday, August 7th. Finally, Citigroup lifted their target price on shares of Dropbox from $28.00 to $33.00 and gave the stock a “neutral” rating in a research report on Friday, August 7th. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $28.25.

Dropbox Company Profile

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.