Key Points
- Dropbox CAO Sarah Elizabeth Schubach sold 1,631 shares at an average price of $34.01, generating $55,470.31. The sale, made under a pre-arranged Rule 10b5-1 plan, reduced her ownership by 1.38% to 116,781 shares.
- Dropbox’s shares opened at $34.88, near the upper end of their $21.69–$36.30 one-year range. The company recently exceeded quarterly expectations, reporting $0.75 in EPS versus estimates of $0.74 and revenue of $631.5 million.
- Analyst sentiment remains cautious: Dropbox has an average “Reduce” rating and a consensus price target of $28.25, while institutional investors and hedge funds own approximately 94.84% of the stock.
Dropbox, Inc. (NASDAQ:DBX - Get Free Report) CAO Sarah Elizabeth Schubach sold 1,631 shares of the business's stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $34.01, for a total transaction of $55,470.31. Following the completion of the sale, the chief accounting officer owned 116,781 shares in the company, valued at $3,971,721.81. The trade was a 1.38% decrease in their ownership of the stock. The transaction was disclosed in a filing 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 Friday, July 31st, Sarah Elizabeth Schubach sold 1,632 shares of Dropbox stock. The stock was sold at an average price of $31.61, for a total transaction of $51,587.52.
- On Tuesday, June 30th, Sarah Elizabeth Schubach sold 1,305 shares of Dropbox stock. The stock was 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 shares were sold at an average price of $27.66, for a total value of $36,096.30.
Dropbox Stock Performance
Shares of NASDAQ:DBX opened at $34.88 on Tuesday. The company has a market capitalization of $7.87 billion, a PE ratio of 19.38, a price-to-earnings-growth ratio of 5.08 and a beta of 0.64. The stock has a fifty day moving average of $30.57 and a 200-day moving average of $27.11. Dropbox, Inc. has a one year low of $21.69 and a one year high of $36.30.
Dropbox (NASDAQ:DBX - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported $0.75 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.74 by $0.01. The business had revenue of $631.50 million for the quarter, compared to analysts' expectations of $626.69 million. Dropbox had a negative return on equity of 24.26% and a net margin of 17.49%.The company's quarterly revenue was up .9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.71 EPS. As a group, research analysts forecast that Dropbox, Inc. will post 1.94 EPS for the current fiscal year.
Institutional Investors Weigh In On Dropbox
A number of institutional investors have recently modified their holdings of the stock. Palisade Asset Management LLC acquired a new position in shares of Dropbox in the third quarter worth $30,000. Kestra Advisory Services LLC acquired a new stake in Dropbox during the fourth quarter valued at $31,000. Larson Financial Group LLC grew its stake in Dropbox by 228.0% in the fourth 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 in the last quarter. Geneos Wealth Management Inc. increased its position 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 purchasing an additional 558 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new position in Dropbox in the 4th quarter worth about $38,000. Institutional investors and hedge funds own 94.84% of the company's stock.
Analysts Set New Price Targets
Several brokerages have commented on DBX. Wall Street Zen cut shares of Dropbox from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. William Blair upgraded shares of Dropbox from an "underperform" rating to a "market perform" rating in a research report on Friday, August 7th. Citigroup boosted their target price on shares of Dropbox from $28.00 to $33.00 and gave the company a "neutral" rating in a research note on Friday, August 7th. Bank of America reaffirmed an "underperform" rating on shares of Dropbox in a research report on Friday, August 7th. Finally, Zacks Research lowered Dropbox from a "hold" rating to a "strong sell" rating in a research report on Wednesday, August 19th. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Dropbox presently has an average rating of "Reduce" and an average target price of $28.25.
View Our Latest Research Report 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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