Key Points
- Dropbox CAO Sarah Schubach sold 2,025 shares at an average price of $36.78, generating $74,479.50. The transaction was conducted under a pre-arranged Rule 10b5-1 trading plan, leaving her with 134,834 shares.
- Dropbox shares opened at $37.61, near their 52-week high of $38.17, while the company recently reported quarterly EPS of $0.75 and revenue of $631.5 million, both slightly above analyst expectations.
- Analyst sentiment remains cautious, with a consensus “Reduce” rating and an average price target of $30.75; institutional investors own approximately 94.84% of the company.
Dropbox, Inc. (NASDAQ:DBX - Get Free Report) CAO Sarah Schubach sold 2,025 shares of the business's stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $36.78, for a total transaction of $74,479.50. Following the transaction, the chief accounting officer owned 134,834 shares in the company, valued at approximately $4,959,194.52. This represents a 1.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 Monday, August 31st, Sarah Schubach sold 1,631 shares of Dropbox stock. The stock was sold at an average price of $35.50, for a total transaction of $57,900.50.
- On Thursday, August 20th, Sarah Schubach sold 1,631 shares of Dropbox stock. The stock was sold at an average price of $34.01, for a total value of $55,470.31.
- On Friday, July 31st, Sarah Schubach sold 1,632 shares of Dropbox stock. The shares were sold at an average price of $31.61, for a total value of $51,587.52.
- On Tuesday, June 30th, Sarah Schubach sold 1,305 shares of Dropbox stock. The shares were sold at an average price of $27.11, for a total value of $35,378.55.
Dropbox Price Performance
Shares of DBX stock opened at $37.61 on Friday. The firm has a market cap of $8.49 billion, a P/E ratio of 20.89, a PEG ratio of 5.56 and a beta of 0.65. Dropbox, Inc. has a fifty-two week low of $21.69 and a fifty-two week high of $38.17. The stock's 50-day moving average is $33.52 and its two-hundred day moving average is $28.49.
Dropbox (NASDAQ:DBX - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.75 EPS for the quarter, topping analysts' consensus estimates of $0.74 by $0.01. Dropbox had a negative return on equity of 24.26% and a net margin of 17.49%.The firm had revenue of $631.50 million for the quarter, compared to the consensus estimate of $626.69 million. During the same quarter in the prior year, the company posted $0.71 earnings per share. The firm's revenue was up .9% on a year-over-year basis. As a group, research analysts expect that Dropbox, Inc. will post 1.94 EPS for the current year.
Wall Street Analysts Forecast Growth
Several research analysts have recently commented on the stock. Wall Street Zen lowered shares of Dropbox from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Weiss Ratings raised shares of Dropbox from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, August 13th. Bank of America reiterated an "underperform" rating on shares of Dropbox in a report on Friday, August 7th. Citigroup increased their target price on shares of Dropbox from $28.00 to $33.00 and gave the stock a "neutral" rating in a research report on Friday, August 7th. Finally, Zacks Research lowered Dropbox from a "hold" rating to a "strong sell" rating in a report on Wednesday, August 19th. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, Dropbox has a consensus rating of "Reduce" and an average target price of $30.75.
View Our Latest Report on Dropbox
Institutional Investors Weigh In On Dropbox
A number of large investors have recently added to or reduced their stakes in the stock. LSV Asset Management lifted its stake in shares of 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 buying an additional 121,999 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in Dropbox by 12.7% in the 1st 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 during the last quarter. Wedge Capital Management L L P NC grew its stake in Dropbox by 26.4% in the 2nd 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. Allianz Asset Management GmbH grew its stake in Dropbox by 28.1% in the 4th quarter. Allianz Asset Management GmbH now owns 2,720,372 shares of the company's stock valued at $75,626,000 after buying an additional 596,440 shares during the last quarter. Finally, Norges Bank bought a new position in Dropbox in the 4th quarter worth $69,909,000. Institutional investors own 94.84% of the company's stock.
Dropbox Company Profile
(
Get Free Report)
Dropbox, Inc (NASDAQ: DBX) is a technology company that provides cloud-based file storage, synchronization, sharing and collaboration services. Its platform enables individuals, businesses and organizations to store files online, access them across connected devices, and collaborate on documents and other digital content.
The company's offerings include Dropbox for file management and collaboration, Dropbox Paper for shared document and project work, Dropbox Sign for electronic signatures, and DocSend for securely sharing and tracking business documents.
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].
