Key Points
- Dropbox CAO Sarah Schubach sold 2,025 shares for $65,893.50 under a pre-arranged Rule 10b5-1 plan, reducing her ownership by 1.5% to 132,809 shares.
- Dropbox recently exceeded quarterly expectations, reporting $0.75 EPS and $631.5 million in revenue, while shares opened at $33.90 and have traded between $21.69 and $38.17 over the past year.
- Analyst sentiment remains cautious: Dropbox has a consensus “Reduce” rating and a $29.75 target price, despite institutional investors owning 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 Wednesday, September 30th. The stock was sold at an average price of $32.54, for a total value of $65,893.50. Following the completion of the transaction, the chief accounting officer directly owned 132,809 shares of the company's stock, valued at approximately $4,321,604.86. This trade represents a 1.50% decrease in their ownership of the stock. The transaction was disclosed in a legal 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 Tuesday, September 15th, Sarah Schubach sold 2,025 shares of Dropbox stock. The shares were sold at an average price of $36.78, for a total value of $74,479.50.
- 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 stock was sold at an average price of $31.61, for a total transaction of $51,587.52.
Dropbox Trading Down 0.5%
Shares of Dropbox stock opened at $33.90 on Friday. Dropbox, Inc. has a twelve month low of $21.69 and a twelve month high of $38.17. The stock has a market cap of $7.65 billion, a price-to-earnings ratio of 18.83, a price-to-earnings-growth ratio of 5.02 and a beta of 0.63. The company has a fifty day moving average price of $34.43 and a 200 day moving average price of $29.06.
Dropbox (NASDAQ:DBX - Get Free Report) last announced 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. Dropbox had a negative return on equity of 24.26% and a net margin of 17.49%.The business had revenue of $631.50 million for the quarter, compared to analyst estimates of $626.69 million. During the same period in the previous year, the company earned $0.71 earnings per share. The company's revenue for the quarter was up .9% compared to the same quarter last year. Analysts forecast that Dropbox, Inc. will post 1.94 earnings per share for the current year.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of the company. Pacer Advisors Inc. boosted its position in shares of Dropbox by 2.8% during the first quarter. Pacer Advisors Inc. now owns 2,047,966 shares of the company's stock worth $46,530,000 after buying an additional 55,921 shares during the period. ING Groep NV acquired a new stake in Dropbox in the 4th quarter valued at approximately $1,223,000. OP Asset Management Ltd acquired a new stake in Dropbox in the 1st quarter valued at approximately $3,196,000. Wedge Capital Management L L P NC raised its stake in Dropbox by 26.4% during 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 acquiring an additional 627,111 shares in the last quarter. Finally, Pinebridge Investments LLC bought a new stake in Dropbox during the 4th quarter valued at $1,142,000. Institutional investors own 94.84% of the company's stock.
Analysts Set New Price Targets
A number of research firms have commented on DBX. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $42.00 price objective on shares of Dropbox in a report on Thursday, September 3rd. Bank of America restated an "underperform" rating on shares of Dropbox in a research report on Friday, August 7th. Zacks Research lowered shares of Dropbox from a "hold" rating to a "strong sell" rating in a report on Wednesday, August 19th. Weiss Ratings raised shares of Dropbox from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, August 13th. Finally, William Blair raised shares of Dropbox from an "underperform" rating to a "market perform" rating in a research report on Friday, August 7th. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, Dropbox currently has an average rating of "Reduce" and a consensus target price of $29.75.
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Dropbox Company Profile
(
Get Free Report)
Dropbox, Inc (NASDAQ: DBX) is a software company that provides cloud-based tools for storing, organizing, sharing and collaborating on files. Its platform enables individuals, businesses and teams to access files across devices, synchronize content and manage collaboration through web, desktop and mobile applications.
The company's product portfolio includes Dropbox for cloud storage and file collaboration, Dropbox Sign for electronic signatures and document workflows, and DocSend for securely sharing and tracking business documents.
Further Reading
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