Key Points
- Sarah Elizabeth Schubach, Dropbox's CAO, sold 1,415 shares on March 16 at an average price of $25.76 for $36,450.40, leaving her with 83,489 shares (a 1.67% decrease in ownership).
- Schubach has made multiple recent sales (Mar 2, Feb 18, Jan 15, Dec 29), totaling about 6,582 shares sold in the past months.
- Dropbox recently reported an EPS beat ($0.68 vs. $0.66) and $636.2M in revenue (down 1.1% YoY), while analysts' consensus is a "Hold" rating with an average target of $27.50 and the stock trading near $25.28.
Dropbox, Inc. (NASDAQ:DBX - Get Free Report) CAO Sarah Elizabeth Schubach sold 1,415 shares of the company's stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $25.76, for a total value of $36,450.40. Following the transaction, the chief accounting officer directly owned 83,489 shares in the company, valued at $2,150,676.64. This represents a 1.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Sarah Elizabeth Schubach also recently made the following trade(s):
- On Monday, March 2nd, Sarah Elizabeth Schubach sold 1,415 shares of Dropbox stock. The stock was sold at an average price of $24.76, for a total value of $35,035.40.
- On Wednesday, February 18th, Sarah Elizabeth Schubach sold 1,416 shares of Dropbox stock. The stock was sold at an average price of $24.49, for a total value of $34,677.84.
- On Thursday, January 15th, Sarah Elizabeth Schubach sold 1,168 shares of Dropbox stock. The shares were sold at an average price of $26.84, for a total transaction of $31,349.12.
- On Monday, December 29th, Sarah Elizabeth Schubach sold 1,168 shares of Dropbox stock. The stock was sold at an average price of $27.88, for a total transaction of $32,563.84.
Dropbox Stock Performance
DBX stock traded up $0.22 during trading on Thursday, reaching $25.28. The company had a trading volume of 259,370 shares, compared to its average volume of 4,108,329. The company has a market cap of $6.10 billion, a price-to-earnings ratio of 13.61, a price-to-earnings-growth ratio of 1.80 and a beta of 0.63. Dropbox, Inc. has a twelve month low of $23.63 and a twelve month high of $32.40. The firm has a 50-day simple moving average of $25.64 and a 200-day simple moving average of $28.06.
Dropbox (NASDAQ:DBX - Get Free Report) last issued its quarterly earnings results on Thursday, February 19th. The company reported $0.68 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.66 by $0.02. Dropbox had a net margin of 20.17% and a negative return on equity of 37.47%. The business had revenue of $636.20 million for the quarter, compared to analyst estimates of $627.83 million. During the same quarter in the prior year, the business posted $0.73 EPS. Dropbox's revenue for the quarter was down 1.1% compared to the same quarter last year. Sell-side analysts expect that Dropbox, Inc. will post 1.64 earnings per share for the current year.
Institutional Trading of Dropbox
Hedge funds have recently modified their holdings of the stock. Empowered Funds LLC raised its position in Dropbox by 7.3% during the first quarter. Empowered Funds LLC now owns 38,795 shares of the company's stock valued at $1,036,000 after acquiring an additional 2,655 shares in the last quarter. Savant Capital LLC acquired a new stake in shares of Dropbox during the 2nd quarter worth approximately $209,000. PNC Financial Services Group Inc. grew its stake in shares of Dropbox by 5.7% during the 2nd quarter. PNC Financial Services Group Inc. now owns 8,607 shares of the company's stock worth $246,000 after purchasing an additional 461 shares during the period. Banco Bilbao Vizcaya Argentaria S.A. increased its holdings in shares of Dropbox by 25.2% during the 2nd quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 23,827 shares of the company's stock valued at $681,000 after purchasing an additional 4,789 shares in the last quarter. Finally, Creative Planning increased its holdings in shares of Dropbox by 71.0% during the 2nd quarter. Creative Planning now owns 55,558 shares of the company's stock valued at $1,589,000 after purchasing an additional 23,070 shares in the last quarter. Hedge funds and other institutional investors own 94.84% of the company's stock.
Analyst Upgrades and Downgrades
A number of analysts have commented on the company. Wall Street Zen cut Dropbox from a "buy" rating to a "hold" rating in a research report on Friday, January 23rd. Royal Bank Of Canada cut their price objective on Dropbox from $35.00 to $30.00 and set an "outperform" rating on the stock in a report on Friday, February 20th. JPMorgan Chase & Co. decreased their target price on Dropbox from $29.00 to $25.00 and set a "neutral" rating for the company in a report on Friday, February 20th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Dropbox in a research report on Wednesday, January 21st. Finally, UBS Group cut their price target on shares of Dropbox from $27.00 to $23.00 and set a "sell" rating on the stock in a report on Friday, February 20th. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $27.50.
Check Out Our Latest Report on DBX
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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