Insider Selling: Dropbox (NASDAQ:DBX) CAO Sells $65,893.50 in Stock

Dropbox, Inc. (NASDAQ:DBX) CAO Sarah Schubach sold 2,025 shares of the company’s stock in a transaction dated Wednesday, September 30th. The shares were sold at an average price of $32.54, for a total transaction of $65,893.50. Following the completion of the sale, the chief accounting officer directly owned 132,809 shares in the company, valued at approximately $4,321,604.86. The trade was a 1.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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, September 15th, Sarah Schubach sold 2,025 shares of Dropbox stock. The stock was sold at an average price of $36.78, for a total transaction of $74,479.50.
• 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 transaction 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 shares were sold at an average price of $31.61, for a total value of $51,587.52.

Dropbox Stock Performance

Shares of DBX opened at $33.90 on Monday. Dropbox, Inc. has a 1 year low of $21.69 and a 1 year high of $38.17. The stock has a 50 day simple moving average of $34.43 and a 200-day simple moving average of $29.09. The stock has a market cap of $7.65 billion, a PE ratio of 18.83, a PEG ratio of 4.99 and a beta of 0.63.

Dropbox (NASDAQ:DBX) last posted its earnings results on Thursday, August 6th. The company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.74 by $0.01. Dropbox had a negative return on equity of 24.26% and a net margin of 17.49%.The business had revenue of $631.50 million during the quarter, compared to the consensus estimate of $626.69 million. During the same quarter last year, the company earned $0.71 EPS. Dropbox’s revenue was up .9% on a year-over-year basis. On average, sell-side analysts forecast that Dropbox, Inc. will post 1.94 EPS for the current fiscal year.

Institutional Trading of Dropbox

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Arrowstreet Capital Limited Partnership lifted its position in Dropbox by 12.7% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 8,533,736 shares of the company’s stock worth $193,886,000 after buying an additional 960,109 shares in the last quarter. Wedge Capital Management L L P NC increased its position in Dropbox by 26.4% in 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 acquiring an additional 627,111 shares in the last quarter. Allianz Asset Management GmbH raised its stake in shares of Dropbox by 28.1% in the fourth quarter. Allianz Asset Management GmbH now owns 2,720,372 shares of the company’s stock worth $75,626,000 after acquiring an additional 596,440 shares during the last quarter. Norges Bank bought a new position in shares of Dropbox in the fourth quarter worth about $69,909,000. Finally, Pacer Advisors Inc. lifted its position in shares of Dropbox by 2.8% during the first quarter. Pacer Advisors Inc. now owns 2,047,966 shares of the company’s stock worth $46,530,000 after purchasing an additional 55,921 shares in the last quarter. 94.84% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on DBX shares. Zacks Research cut shares of Dropbox from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 19th. Royal Bank Of Canada restated an “outperform” rating and issued a $42.00 price target on shares of Dropbox in a research report on Thursday, September 3rd. Wall Street Zen cut shares of Dropbox from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Citigroup lowered shares of Dropbox from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $33.00 to $29.00 in a report on Thursday, September 24th. Finally, Weiss Ratings upgraded shares of Dropbox from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, August 13th. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $29.75.

Dropbox Company Profile

Dropbox, Inc (NASDAQ: DBX) is a software company that provides cloud-based tools for storing, organizing, sharing and collaborating on files. Its platform enables individuals, businesses and teams to access files across devices, synchronize content and manage collaboration through web, desktop and mobile applications.

The company’s product portfolio includes Dropbox for cloud storage and file collaboration, Dropbox Sign for electronic signatures and document workflows, and DocSend for securely sharing and tracking business documents.