Key Points
- Dropbox CAO Sarah Elizabeth Schubach sold 1,306 shares on May 19 at an average price of $28.14, totaling about $36,751. The trade was made under a pre-arranged Rule 10b5-1 plan and was tied to tax withholding on vested equity awards.
- Schubach has also sold shares repeatedly in recent months, including several April, March, and February transactions. After the latest sale, she still held 131,120 shares valued at about $3.69 million.
- Dropbox recently reported better-than-expected quarterly results, with EPS of $0.76 and revenue of $629.5 million, and analysts remain mixed with a consensus rating of "Reduce" despite some recent price target increases.
Dropbox, Inc. (NASDAQ:DBX - Get Free Report) CAO Sarah Elizabeth Schubach sold 1,306 shares of the stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $28.14, for a total transaction of $36,750.84. Following the completion of the sale, the chief accounting officer owned 131,120 shares in the company, valued at $3,689,716.80. This represents a 0.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Sarah Elizabeth Schubach also recently made the following trade(s):
- On Thursday, April 30th, Sarah Elizabeth Schubach sold 1,769 shares of Dropbox stock. The shares were 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 stock was sold at an average price of $22.99, for a total value of $32,530.85.
- On Tuesday, March 31st, Sarah Elizabeth Schubach sold 1,416 shares of Dropbox stock. The stock was sold at an average price of $22.60, for a total value of $32,001.60.
- 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 shares were sold at an average price of $24.76, for a total transaction 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 transaction of $34,677.84.
Dropbox Stock Down 1.6%
Shares of NASDAQ:DBX opened at $27.53 on Wednesday. The firm has a market cap of $6.42 billion, a price-to-earnings ratio of 15.04, a PEG ratio of 3.15 and a beta of 0.64. Dropbox, Inc. has a 12 month low of $21.69 and a 12 month high of $32.40. The company's fifty day simple moving average is $24.57 and its 200 day simple moving average is $26.40.
Dropbox (NASDAQ:DBX - Get Free Report) last released its earnings results on Thursday, May 7th. The company reported $0.76 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.71 by $0.05. Dropbox had a negative return on equity of 30.01% and a net margin of 18.71%.The firm had revenue of $629.50 million during the quarter, compared to analysts' expectations of $620.56 million. During the same quarter in the prior year, the company earned $0.70 EPS. The company's revenue was up .8% on a year-over-year basis. Research analysts expect that Dropbox, Inc. will post 2.03 earnings per share for the current fiscal year.
Trending Headlines about Dropbox
Here are the key news stories impacting Dropbox this week:
- Positive Sentiment: Dropbox’s latest quarterly report beat Wall Street expectations, with EPS of $0.76 versus $0.71 estimated and revenue of $629.5 million above forecasts, reinforcing the company’s ability to deliver steady profitability. The stock also received a rating upgrade from Wall Street Zen to buy, while RBC recently raised its price target to $32. Article Title
- Neutral Sentiment: Several insiders, including the CEO, CTO, CAO, and two directors, sold shares in recent days. These trades were made under pre-arranged 10b5-1 plans and, in several cases, were tied to tax withholding on vested equity awards, which reduces the likelihood that they signal a fundamental change in outlook. Article Title
- Neutral Sentiment: Dropbox’s stock has also been trading near the middle of its 52-week range, suggesting investors are still balancing solid earnings execution against slower revenue growth and a mixed analyst consensus. Article Title
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of DBX. Rossby Financial LCC raised its stake in shares of Dropbox by 128.5% during the 3rd quarter. Rossby Financial LCC now owns 937 shares of the company's stock worth $28,000 after purchasing an additional 527 shares in the last quarter. Palisade Asset Management LLC bought a new position in shares of Dropbox in the third quarter valued at $30,000. First Horizon Corp bought a new position in shares of Dropbox in the third quarter valued at $31,000. Kestra Advisory Services LLC acquired a new position in Dropbox during the fourth quarter worth $31,000. Finally, Larson Financial Group LLC increased its holdings in Dropbox by 228.0% during the fourth quarter. Larson Financial Group LLC now owns 1,138 shares of the company's stock worth $32,000 after buying an additional 791 shares during the last quarter. 94.84% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts have commented on DBX shares. Citigroup boosted their target price on Dropbox from $27.00 to $28.00 and gave the company a "neutral" rating in a research note on Monday, May 11th. JPMorgan Chase & Co. decreased their price target on shares of Dropbox from $29.00 to $25.00 and set a "neutral" rating for the company in a research note on Friday, February 20th. Royal Bank Of Canada boosted their price objective on shares of Dropbox from $30.00 to $32.00 and gave the stock an "outperform" rating in a research report on Friday, May 8th. Weiss Ratings restated a "hold (c)" rating on shares of Dropbox in a report on Monday, May 4th. Finally, UBS Group reduced their target price on shares of Dropbox from $27.00 to $23.00 and set a "sell" rating for the company in a report on Friday, February 20th. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Dropbox presently has a consensus rating of "Reduce" and a consensus target price of $27.00.
Get Our Latest Stock Analysis on Dropbox
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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