Insider Selling: Dropbox (NASDAQ:DBX) CAO Sells $35,378.55 in Stock

Dropbox, Inc. (NASDAQ:DBX) CAO Sarah Elizabeth Schubach sold 1,305 shares of Dropbox stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $27.11, for a total transaction of $35,378.55. Following the completion of the transaction, the chief accounting officer directly owned 127,204 shares in the company, valued at $3,448,500.44. This represents a 1.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 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.
• On Monday, June 1st, Sarah Elizabeth Schubach sold 1,305 shares of Dropbox stock. The stock was sold at an average price of $27.66, for a total transaction 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 transaction 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 transaction of $42,367.55.
• On Wednesday, April 15th, Sarah Elizabeth Schubach sold 1,415 shares of Dropbox stock. The shares were sold at an average price of $22.99, for a total value of $32,530.85.

Dropbox Stock Performance

NASDAQ DBX opened at $28.56 on Friday. Dropbox, Inc. has a 1 year low of $21.69 and a 1 year high of $32.40. The business’s fifty day moving average is $26.61 and its two-hundred day moving average is $25.88. The stock has a market capitalization of $6.66 billion, a P/E ratio of 15.61, a P/E/G ratio of 3.13 and a beta of 0.66.

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

Institutional Trading of Dropbox

Hedge funds and other institutional investors have recently modified their holdings of the business. Palisade Asset Management LLC acquired a new position in Dropbox during the third quarter valued at $30,000. Kestra Advisory Services LLC acquired a new stake in Dropbox during the 4th quarter worth about $31,000. Larson Financial Group LLC boosted its position in Dropbox by 228.0% during the 4th quarter. Larson Financial Group LLC now owns 1,138 shares of the company’s stock worth $32,000 after acquiring an additional 791 shares during the period. Geneos Wealth Management Inc. grew its stake in Dropbox by 78.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 1,273 shares of the company’s stock valued at $36,000 after acquiring an additional 558 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new position in Dropbox during the 4th quarter valued at about $38,000. Institutional investors and hedge funds own 94.84% of the company’s stock.

Analyst Ratings Changes

DBX has been the subject of a number of recent analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Dropbox in a research report on Monday, May 4th. Royal Bank Of Canada restated an “outperform” rating on shares of Dropbox in a report on Monday, June 1st. Citigroup upped their price objective on shares of Dropbox from $27.00 to $28.00 and gave the company a “neutral” rating in a research note on Monday, May 11th. William Blair reiterated an “underperform” rating on shares of Dropbox in a report on Monday, March 23rd. Finally, Wall Street Zen raised shares of Dropbox from a “hold” rating to a “buy” rating in a research report on Sunday, June 28th. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price 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.