Key Points
- Dropbox CAO Sarah Elizabeth Schubach sold 1,306 shares on June 15 at an average price of $26.90, worth about $35,131.40. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
- Schubach has been actively trimming her Dropbox stake in recent months, including multiple sales in March, April, May, and June. After the latest transaction, she still owned 128,509 shares valued at about $3.46 million.
- Dropbox stock was down 3.3% in the report, and the company recently beat quarterly EPS and revenue estimates. Analysts currently have a “Reduce” consensus rating on the stock, with an average price target of $27.00.
Dropbox, Inc. (NASDAQ:DBX - Get Free Report) CAO Sarah Elizabeth Schubach sold 1,306 shares of the business's stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $26.90, for a total value of $35,131.40. Following the transaction, the chief accounting officer owned 128,509 shares of the company's stock, valued at $3,456,892.10. This represents a 1.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 Monday, June 1st, Sarah Elizabeth Schubach sold 1,305 shares of Dropbox stock. The shares were sold at an average price of $27.66, for a total value of $36,096.30.
- On Tuesday, May 19th, Sarah Elizabeth Schubach sold 1,306 shares of Dropbox stock. The shares were 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 stock was 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 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.
Dropbox Stock Down 3.3%
Shares of Dropbox stock opened at $26.41 on Thursday. The stock's fifty day moving average is $25.79 and its 200-day moving average is $26.04. The firm has a market capitalization of $6.16 billion, a PE ratio of 14.43, a price-to-earnings-growth ratio of 2.99 and a beta of 0.67. Dropbox, Inc. has a 12-month low of $21.69 and a 12-month high of $32.40.
Dropbox (NASDAQ:DBX - Get Free Report) last announced 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 company had revenue of $629.50 million for the quarter, compared to analyst estimates of $620.56 million. During the same period in the previous year, the firm earned $0.70 earnings per share. Dropbox's revenue for the quarter was up .8% compared to the same quarter last year. Analysts expect that Dropbox, Inc. will post 2.09 EPS for the current year.
Wall Street Analyst Weigh In
DBX has been the topic of a number of recent research reports. 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. UBS Group cut their price objective on Dropbox from $27.00 to $23.00 and set a "sell" rating for the company in a research report on Friday, February 20th. Wall Street Zen raised Dropbox from a "hold" rating to a "buy" rating in a research report on Saturday, May 16th. William Blair reissued an "underperform" rating on shares of Dropbox in a research report on Monday, March 23rd. Finally, JPMorgan Chase & Co. cut their price objective on 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 issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Dropbox presently has a consensus rating of "Reduce" and an average price target of $27.00.
Check Out Our Latest Analysis on Dropbox
Hedge Funds Weigh In On Dropbox
Large investors have recently added to or reduced their stakes in the company. Rossby Financial LCC grew its stake in shares of Dropbox by 128.5% in the 3rd quarter. Rossby Financial LCC now owns 937 shares of the company's stock valued at $28,000 after purchasing an additional 527 shares during the period. Palisade Asset Management LLC bought a new position in Dropbox in the 3rd quarter valued at $30,000. Kestra Advisory Services LLC bought a new position in Dropbox in the 4th quarter valued at $31,000. Larson Financial Group LLC lifted its stake in shares of Dropbox by 228.0% in the 4th quarter. Larson Financial Group LLC now owns 1,138 shares of the company's stock valued at $32,000 after purchasing an additional 791 shares during the period. Finally, Geneos Wealth Management Inc. lifted its stake in shares of Dropbox by 78.0% in the 2nd quarter. Geneos Wealth Management Inc. now owns 1,273 shares of the company's stock valued at $36,000 after purchasing an additional 558 shares during the period. Institutional investors and hedge funds 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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