Key Points
- Dropbox CAO Sarah Elizabeth Schubach sold 1,632 shares at an average price of $31.61, totaling $51,587.52. The transaction, conducted under a Rule 10b5-1 plan, reduced her holdings by 1.30% to 124,266 shares.
- Dropbox reported quarterly earnings of $0.76 per share, exceeding the $0.71 analyst consensus, while revenue of $629.5 million also topped estimates. Revenue increased 0.8% year over year.
- Analyst sentiment remains cautious: Dropbox has an average “Reduce” rating and a $27.00 average price target, despite institutional investors owning 94.84% of the company and the stock trading near its 52-week high.
Dropbox, Inc. (NASDAQ:DBX - Get Free Report) CAO Sarah Elizabeth Schubach sold 1,632 shares of the business's stock in a transaction on Friday, July 31st. The stock was sold at an average price of $31.61, for a total transaction of $51,587.52. Following the transaction, the chief accounting officer directly owned 124,266 shares in the company, valued at $3,928,048.26. This trade represents a 1.30% decrease in their position. The sale was disclosed in a document filed 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 Tuesday, June 30th, Sarah Elizabeth Schubach sold 1,305 shares of Dropbox stock. The shares were sold at an average price of $27.11, for a total transaction of $35,378.55.
- 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 stock was 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 stock was sold at an average price of $28.14, for a total transaction of $36,750.84.
Dropbox Stock Performance
Shares of DBX opened at $34.51 on Wednesday. The company has a 50-day simple moving average of $28.58 and a 200-day simple moving average of $26.29. Dropbox, Inc. has a 52 week low of $21.69 and a 52 week high of $34.54. The firm has a market capitalization of $8.05 billion, a P/E ratio of 18.86, a P/E/G ratio of 3.62 and a beta of 0.64.
Dropbox (NASDAQ:DBX - Get Free Report) last released its earnings results on Thursday, May 7th. The company reported $0.76 earnings per share 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 business had revenue of $629.50 million for the quarter, compared to the consensus estimate of $620.56 million. During the same period last year, the business earned $0.70 earnings per share. The firm's revenue for the quarter was up .8% compared to the same quarter last year. As a group, equities analysts forecast that Dropbox, Inc. will post 2.09 earnings per share for the current year.
Institutional Investors Weigh In On Dropbox
Hedge funds and other institutional investors have recently bought and sold shares of the business. LSV Asset Management boosted its stake in Dropbox by 1.1% in the fourth quarter. LSV Asset Management now owns 11,735,641 shares of the company's stock worth $326,251,000 after purchasing an additional 121,999 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Dropbox by 12.7% in the first quarter. Arrowstreet Capital Limited Partnership now owns 8,533,736 shares of the company's stock valued at $193,886,000 after buying an additional 960,109 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in shares of Dropbox by 1.4% in the third quarter. Jacobs Levy Equity Management Inc. now owns 5,095,485 shares of the company's stock valued at $153,935,000 after buying an additional 70,867 shares during the last quarter. Wedge Capital Management L L P NC raised its holdings in shares of Dropbox by 26.4% in the second quarter. Wedge Capital Management L L P NC now owns 3,005,173 shares of the company's stock valued at $82,552,000 after buying an additional 627,111 shares during the last quarter. Finally, Allianz Asset Management GmbH lifted its position in Dropbox by 28.1% during the 4th quarter. Allianz Asset Management GmbH now owns 2,720,372 shares of the company's stock worth $75,626,000 after buying an additional 596,440 shares in the last quarter. 94.84% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
DBX has been the topic of several recent research reports. Wall Street Zen raised Dropbox from a "hold" rating to a "buy" rating in a report on Sunday, June 28th. Weiss Ratings restated a "hold (c)" rating on shares of Dropbox in a research note on Friday. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Dropbox in a research report on Monday, June 1st. Finally, Citigroup lifted their price target on shares of Dropbox from $27.00 to $28.00 and gave the stock a "neutral" rating in a research note on Monday, May 11th. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Reduce" and an average target price of $27.00.
View Our Latest Analysis on Dropbox
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.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
