Key Points
- CAO Sarah Elizabeth Schubach sold 1,168 Dropbox shares on Dec. 29 at an average price of $27.88 for $32,563.84, leaving her with 93,870 shares (a 1.23% decline in her holdings).
- The Dec. 29 sale continues a string of recent disposals by Schubach — she also sold 1,168 shares on Dec. 1 and Nov. 20 and two smaller lots in October — indicating a pattern of repeated insider sales.
- Dropbox trades near $27.80 with a $7.19B market cap; analysts hold a consensus "Hold" rating with a $31.75 price target after the company beat quarterly EPS ($0.74) and revenue ($634.4M) despite a 0.7% year-over-year revenue decline.
Dropbox, Inc. (NASDAQ:DBX - Get Free Report) CAO Sarah Elizabeth Schubach sold 1,168 shares of Dropbox stock in a transaction that occurred on Monday, December 29th. The stock was sold at an average price of $27.88, for a total value of $32,563.84. Following the transaction, the chief accounting officer owned 93,870 shares of the company's stock, valued at $2,617,095.60. This represents a 1.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Sarah Elizabeth Schubach also recently made the following trade(s):
- On Monday, December 1st, Sarah Elizabeth Schubach sold 1,168 shares of Dropbox stock. The shares were sold at an average price of $29.60, for a total value of $34,572.80.
- On Thursday, November 20th, Sarah Elizabeth Schubach sold 1,168 shares of Dropbox stock. The stock was sold at an average price of $29.43, for a total value of $34,374.24.
- On Thursday, October 30th, Sarah Elizabeth Schubach sold 1,066 shares of Dropbox stock. The shares were sold at an average price of $28.40, for a total value of $30,274.40.
- On Wednesday, October 15th, Sarah Elizabeth Schubach sold 1,066 shares of Dropbox stock. The shares were sold at an average price of $28.62, for a total value of $30,508.92.
Dropbox Trading Up 0.5%
Shares of DBX stock opened at $27.80 on Thursday. The company has a market capitalization of $7.19 billion, a price-to-earnings ratio of 15.71, a PEG ratio of 2.37 and a beta of 0.63. The firm has a 50-day moving average price of $29.11 and a 200 day moving average price of $28.83. Dropbox, Inc. has a twelve month low of $24.42 and a twelve month high of $33.33.
Dropbox (NASDAQ:DBX - Get Free Report) last released its quarterly earnings results on Thursday, November 6th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.10. The company had revenue of $634.40 million for the quarter, compared to analysts' expectations of $623.59 million. Dropbox had a net margin of 19.87% and a negative return on equity of 49.51%. The firm's revenue for the quarter was down .7% compared to the same quarter last year. During the same period last year, the company earned $0.60 EPS. As a group, research analysts predict that Dropbox, Inc. will post 1.64 earnings per share for the current year.
Hedge Funds Weigh In On Dropbox
A number of large investors have recently modified their holdings of the company. LSV Asset Management lifted its stake in shares of Dropbox by 38.1% in the 3rd quarter. LSV Asset Management now owns 11,613,642 shares of the company's stock valued at $350,848,000 after purchasing an additional 3,205,140 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Dropbox in the second quarter valued at approximately $56,911,000. Norges Bank acquired a new position in Dropbox during the second quarter valued at approximately $51,307,000. Allianz Asset Management GmbH grew its stake in Dropbox by 47.8% during the third quarter. Allianz Asset Management GmbH now owns 2,123,932 shares of the company's stock worth $64,164,000 after buying an additional 686,577 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of Dropbox by 10.0% in the second quarter. Arrowstreet Capital Limited Partnership now owns 6,662,161 shares of the company's stock worth $190,538,000 after acquiring an additional 605,258 shares in the last quarter. 94.84% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently issued reports on the company. Weiss Ratings restated a "hold (c+)" rating on shares of Dropbox in a report on Wednesday, October 8th. Royal Bank Of Canada raised their price target on Dropbox from $35.00 to $38.00 and gave the stock an "outperform" rating in a research note on Friday, November 7th. UBS Group downgraded shares of Dropbox from a "neutral" rating to a "sell" rating and dropped their price objective for the company from $29.00 to $27.00 in a research note on Thursday, September 18th. Finally, Wall Street Zen raised shares of Dropbox from a "hold" rating to a "buy" rating in a research report on Saturday, November 8th. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $31.75.
View Our Latest Stock Report on Dropbox
About Dropbox
(
Get Free Report)
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.
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