Key Points
- Dropbox CAO Sarah Elizabeth Schubach sold 1,305 shares on June 30 at an average price of $27.11, for proceeds of about $35,379. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
- Schubach has been a steady seller of Dropbox shares in recent months, with several similar transactions reported in June, May, and April. After the latest sale, she still held 127,204 shares worth roughly $3.45 million.
- Dropbox reported better-than-expected quarterly results, posting EPS of $0.76 versus estimates of $0.71 and revenue of $629.5 million, slightly above expectations. Analysts currently have a consensus “Reduce” rating on the stock with a $27 target price, while DBX recently traded at $28.56.
Dropbox, Inc. (NASDAQ:DBX - Get Free Report) CAO Sarah Elizabeth Schubach sold 1,305 shares of the company's stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $27.11, for a total transaction of $35,378.55. Following the completion of the transaction, the chief accounting officer owned 127,204 shares of the company's stock, valued at approximately $3,448,500.44. The trade was a 1.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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, June 15th, Sarah Elizabeth Schubach sold 1,306 shares of Dropbox stock. The stock was sold at an average price of $26.90, for a total transaction of $35,131.40.
- 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 transaction 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 transaction 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 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 transaction of $32,530.85.
Dropbox Stock Performance
Shares of DBX stock opened at $28.56 on Friday. Dropbox, Inc. has a 52-week low of $21.69 and a 52-week high of $32.40. The firm has a market capitalization of $6.66 billion, a PE ratio of 15.61, a PEG ratio of 3.11 and a beta of 0.66. The stock has a fifty day simple moving average of $26.53 and a two-hundred day simple moving average of $25.86.
Dropbox (NASDAQ:DBX - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.76 EPS for the quarter, beating 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 business had revenue of $629.50 million for the quarter, compared to analysts' expectations of $620.56 million. During the same period last year, the firm earned $0.70 earnings per share. The business's quarterly revenue was up .8% on a year-over-year basis. On average, sell-side analysts forecast that Dropbox, Inc. will post 2.09 EPS for the current fiscal year.
Analysts Set New Price Targets
A number of research analysts recently commented on DBX shares. Royal Bank Of Canada reissued an "outperform" rating on shares of Dropbox in a report on Monday, June 1st. William Blair reaffirmed an "underperform" rating on shares of Dropbox in a report on Monday, March 23rd. Citigroup lifted their price objective on shares of Dropbox from $27.00 to $28.00 and gave the company a "neutral" rating in a research report on Monday, May 11th. Weiss Ratings reissued a "hold (c)" rating on shares of Dropbox in a report on Monday, May 4th. Finally, Wall Street Zen upgraded shares of Dropbox from a "hold" rating to a "buy" rating in a research report on Sunday, June 28th. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Reduce" and a consensus target price of $27.00.
Get Our Latest Stock Report on DBX
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in the company. Palisade Asset Management LLC bought a new position in Dropbox during the third quarter valued at approximately $30,000. Kestra Advisory Services LLC purchased a new position in Dropbox during the 4th quarter valued at approximately $31,000. Larson Financial Group LLC increased its stake in Dropbox by 228.0% in the 4th quarter. Larson Financial Group LLC now owns 1,138 shares of the company's stock worth $32,000 after acquiring an additional 791 shares during the last quarter. Geneos Wealth Management Inc. increased its stake in Dropbox by 78.0% in the 2nd quarter. Geneos Wealth Management Inc. now owns 1,273 shares of the company's stock worth $36,000 after acquiring an additional 558 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in shares of Dropbox during the 4th quarter worth approximately $38,000. Hedge funds and other 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.
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