Sarah Elizabeth Schubach Sells 2,025 Shares of Dropbox (NASDAQ:DBX) Stock

Dropbox, Inc. (NASDAQ:DBX) CAO Sarah Schubach sold 2,025 shares of the firm’s stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $36.78, for a total value of $74,479.50. Following the completion of the transaction, the chief accounting officer directly owned 134,834 shares of the company’s stock, valued at $4,959,194.52. The trade was a 1.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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, August 31st, Sarah Schubach sold 1,631 shares of Dropbox stock. The stock was sold at an average price of $35.50, for a total value of $57,900.50.
• On Thursday, August 20th, Sarah Schubach sold 1,631 shares of Dropbox stock. The shares were sold at an average price of $34.01, for a total value of $55,470.31.
• On Friday, July 31st, Sarah Schubach sold 1,632 shares of Dropbox stock. The stock was sold at an average price of $31.61, for a total value of $51,587.52.
• On Tuesday, June 30th, Sarah 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.

Dropbox Trading Down 3.0%

Shares of NASDAQ DBX opened at $36.48 on Friday. The company’s 50-day moving average price is $33.66 and its 200 day moving average price is $28.54. Dropbox, Inc. has a 52 week low of $21.69 and a 52 week high of $38.17. The stock has a market cap of $8.23 billion, a price-to-earnings ratio of 20.27, a PEG ratio of 5.54 and a beta of 0.65.

Dropbox (NASDAQ:DBX) last posted its earnings results on Thursday, August 6th. The company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.01. The firm had revenue of $631.50 million for the quarter, compared to analyst estimates of $626.69 million. Dropbox had a negative return on equity of 24.26% and a net margin of 17.49%.Dropbox’s revenue was up .9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.71 EPS. As a group, research analysts expect that Dropbox, Inc. will post 1.94 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of DBX. Norges Bank acquired a new position in shares of Dropbox in the fourth quarter worth about $69,909,000. Arrowstreet Capital Limited Partnership grew its stake in Dropbox by 12.7% during 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 in the last quarter. Wedge Capital Management L L P NC grew its stake in Dropbox by 26.4% during the 2nd 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 in the last quarter. Allianz Asset Management GmbH increased its holdings in Dropbox by 28.1% during the 4th quarter. Allianz Asset Management GmbH now owns 2,720,372 shares of the company’s stock worth $75,626,000 after purchasing an additional 596,440 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Dropbox during the 1st quarter worth approximately $5,221,000. Institutional investors and hedge funds own 94.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on DBX. Zacks Research downgraded shares of Dropbox from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 19th. Weiss Ratings raised shares of Dropbox from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, August 13th. Wall Street Zen downgraded shares of Dropbox from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. William Blair raised shares of Dropbox from an “underperform” rating to a “market perform” rating in a research report on Friday, August 7th. Finally, Citigroup upped their price objective on shares of Dropbox from $28.00 to $33.00 and gave the company a “neutral” rating in a research note on Friday, August 7th. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, Dropbox presently has a consensus rating of “Reduce” and a consensus target price of $30.75.

Dropbox Company Profile

Dropbox, Inc (NASDAQ: DBX) is a technology company that provides cloud-based file storage, synchronization, sharing and collaboration services. Its platform enables individuals, businesses and organizations to store files online, access them across connected devices, and collaborate on documents and other digital content.

The company’s offerings include Dropbox for file management and collaboration, Dropbox Paper for shared document and project work, Dropbox Sign for electronic signatures, and DocSend for securely sharing and tracking business documents.