Key Points
- CAO Sarah Elizabeth Schubach sold 1,416 shares of Dropbox on March 31 at an average price of $22.60 for $32,001.60 under a pre-arranged Rule 10b5-1 plan, leaving her with 82,073 shares (a 1.7% ownership decrease) after several similar sales earlier in the quarter.
- Dropbox beat the quarter's EPS and revenue estimates (EPS $0.68 vs $0.66; revenue $636.2M vs $627.8M) but showed a 1.1% YoY revenue decline and negative ROE, and analysts remain mixed with a consensus price target of $27.50.
Dropbox, Inc. (NASDAQ:DBX - Get Free Report) CAO Sarah Elizabeth Schubach sold 1,416 shares of Dropbox stock in a transaction dated Tuesday, March 31st. The stock was sold at an average price of $22.60, for a total value of $32,001.60. Following the completion of the sale, the chief accounting officer owned 82,073 shares in the company, valued at approximately $1,854,849.80. The trade was a 1.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available 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, March 16th, Sarah Elizabeth Schubach sold 1,415 shares of Dropbox stock. The shares were sold at an average price of $25.76, for a total value of $36,450.40.
- 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 shares were 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 stock was sold at an average price of $26.84, for a total transaction of $31,349.12.
Dropbox Trading Up 1.4%
NASDAQ:DBX opened at $23.40 on Friday. The company's 50-day moving average price is $24.93 and its 200-day moving average price is $27.57. The company has a market cap of $5.64 billion, a P/E ratio of 12.58, a P/E/G ratio of 1.63 and a beta of 0.61. Dropbox, Inc. has a twelve month low of $22.00 and a twelve month high of $32.40.
Dropbox (NASDAQ:DBX - Get Free Report) last released its quarterly earnings data on Thursday, February 19th. The company reported $0.68 EPS for the quarter, beating analysts' consensus estimates of $0.66 by $0.02. The company had revenue of $636.20 million during the quarter, compared to the consensus estimate of $627.83 million. Dropbox had a net margin of 20.17% and a negative return on equity of 37.47%. Dropbox's quarterly revenue was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.73 EPS. On average, analysts expect that Dropbox, Inc. will post 1.64 earnings per share for the current year.
Wall Street Analysts Forecast Growth
DBX has been the subject of a number of recent research reports. William Blair reaffirmed an "underperform" rating on shares of Dropbox in a research note on Monday, March 23rd. Royal Bank Of Canada cut their price objective on shares of Dropbox from $35.00 to $30.00 and set an "outperform" rating for the company in a research report on Friday, February 20th. JPMorgan Chase & Co. decreased their target price on shares of Dropbox from $29.00 to $25.00 and set a "neutral" rating on the stock in a report on Friday, February 20th. Wall Street Zen cut shares of Dropbox from a "buy" rating to a "hold" rating in a research note on Friday, January 23rd. Finally, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Dropbox in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Reduce" and a consensus price target of $27.50.
Read Our Latest Stock Report on Dropbox
Institutional Trading of Dropbox
A number of institutional investors and hedge funds have recently added to or reduced their stakes in DBX. Empowered Funds LLC boosted its position in shares of Dropbox by 7.3% during the first quarter. Empowered Funds LLC now owns 38,795 shares of the company's stock worth $1,036,000 after buying an additional 2,655 shares during the period. Cetera Investment Advisers lifted its stake in Dropbox by 10.8% during the 2nd quarter. Cetera Investment Advisers now owns 24,623 shares of the company's stock worth $704,000 after acquiring an additional 2,405 shares in the last quarter. Choreo LLC boosted its holdings in Dropbox by 56.5% during the 2nd quarter. Choreo LLC now owns 18,152 shares of the company's stock valued at $519,000 after acquiring an additional 6,551 shares during the period. Quadrant Capital Group LLC increased its stake in Dropbox by 120.5% during the second quarter. Quadrant Capital Group LLC now owns 15,325 shares of the company's stock worth $438,000 after purchasing an additional 8,374 shares during the period. Finally, Elevation Point Wealth Partners LLC purchased a new stake in Dropbox during the second quarter worth about $59,000. Hedge funds and other institutional investors own 94.84% of the company's stock.
Dropbox Company Profile
(
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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