Key Points
- Dropbox CEO Ashraf Alkarmi sold 22,700 shares on June 2 at an average price of $27.86, generating about $632,422. After the sale, he still owned 1,080,746 shares, a 2.06% reduction in his stake.
- Dropbox shares were down about 2% and opened at $27.60, with the stock trading near its 52-week range of $21.69 to $32.40. The company’s market cap was about $6.44 billion.
- Recent earnings came in above expectations, with Q1 EPS of $0.76 versus the $0.71 estimate and revenue of $629.5 million versus $620.56 million expected. Analysts currently have a mixed view, with a consensus rating of “Reduce” and an average price target of $27.00.
Dropbox, Inc. (NASDAQ:DBX - Get Free Report) CAO Sarah Elizabeth Schubach sold 1,305 shares of the company's stock in a transaction on Monday, June 1st. The stock was sold at an average price of $27.66, for a total value of $36,096.30. Following the transaction, the chief accounting officer directly owned 129,815 shares in the company, valued at approximately $3,590,682.90. This represents a 1.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Sarah Elizabeth Schubach also recently made the following trade(s):
- 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 value of $36,750.84.
- 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 value 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.
- On Tuesday, March 31st, Sarah Elizabeth Schubach sold 1,416 shares of Dropbox stock. The shares were 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.
Dropbox Stock Down 2.0%
DBX stock opened at $27.60 on Thursday. The business's fifty day moving average is $24.94 and its 200-day moving average is $26.21. The company has a market cap of $6.44 billion, a P/E ratio of 15.08, a price-to-earnings-growth ratio of 3.08 and a beta of 0.67. Dropbox, Inc. has a twelve month low of $21.69 and a twelve month high of $32.40.
Dropbox (NASDAQ:DBX - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.76 earnings per share for the quarter, beating analysts' consensus estimates of $0.71 by $0.05. The company had revenue of $629.50 million for the quarter, compared to the consensus estimate of $620.56 million. Dropbox had a negative return on equity of 30.01% and a net margin of 18.71%.The firm's quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.70 EPS. Research analysts anticipate that Dropbox, Inc. will post 2.09 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of research analysts have recently weighed in on DBX shares. Royal Bank Of Canada reissued an "outperform" rating on shares of Dropbox in a research note on Monday. Weiss Ratings reissued a "hold (c)" rating on shares of Dropbox in a research note on Monday, May 4th. Citigroup increased their price target on Dropbox from $27.00 to $28.00 and gave the company a "neutral" rating in a research note on Monday, May 11th. UBS Group lowered their price objective on shares of Dropbox from $27.00 to $23.00 and set a "sell" rating for the company in a research report on Friday, February 20th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Dropbox from $29.00 to $25.00 and set a "neutral" rating for the company in a research report on Friday, February 20th. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Reduce" and an average target price of $27.00.
Read Our Latest Analysis on DBX
Institutional Trading of Dropbox
Large investors have recently made changes to their positions in the company. WealthCollab LLC lifted its stake in shares of Dropbox by 20.6% during the 4th quarter. WealthCollab LLC now owns 2,356 shares of the company's stock worth $65,000 after buying an additional 403 shares during the last quarter. Parallel Advisors LLC lifted its stake in shares of Dropbox by 8.3% during the 4th quarter. Parallel Advisors LLC now owns 5,765 shares of the company's stock worth $160,000 after buying an additional 440 shares during the last quarter. Lakewood Asset Management LLC raised its holdings in Dropbox by 1.0% in the 4th quarter. Lakewood Asset Management LLC now owns 44,905 shares of the company's stock valued at $1,248,000 after acquiring an additional 458 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in Dropbox by 1.8% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 26,254 shares of the company's stock worth $730,000 after acquiring an additional 466 shares during the last quarter. Finally, Merit Financial Group LLC lifted its position in Dropbox by 4.4% during the third quarter. Merit Financial Group LLC now owns 11,385 shares of the company's stock worth $344,000 after acquiring an additional 480 shares during the last quarter. Institutional investors own 94.84% of the company's stock.
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.
Further Reading
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