Key Points
- Dropbox CAO Sarah Schubach sold 2,056 shares at an average price of $35.79, generating $73,584.24. The transaction was conducted under a pre-arranged Rule 10b5-1 plan and reduced her ownership by 1.55%.
- Dropbox shares opened at $35.94, near their 52-week high of $38.17, with an $8.11 billion market capitalization. The company recently exceeded quarterly earnings and revenue expectations, reporting $0.75 in EPS and $631.5 million in revenue.
- Analyst sentiment remains cautious: Dropbox has an average “Reduce” rating and a $29.75 consensus price target, despite institutional investors and hedge funds owning 94.84% of the stock.
Dropbox, Inc. (NASDAQ:DBX - Get Free Report) CAO Sarah Schubach sold 2,056 shares of Dropbox stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $35.79, for a total transaction of $73,584.24. Following the sale, the chief accounting officer owned 130,821 shares of the company's stock, valued at approximately $4,682,083.59. This trade represents a 1.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Sarah Elizabeth Schubach also recently made the following trade(s):
- On Wednesday, September 30th, Sarah Schubach sold 2,025 shares of Dropbox stock. The shares were sold at an average price of $32.54, for a total transaction of $65,893.50.
- 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 transaction of $74,479.50.
- On Monday, August 31st, Sarah Schubach sold 1,631 shares of Dropbox stock. The shares were 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 transaction 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 Stock Performance
DBX stock opened at $35.94 on Tuesday. The company has a 50 day moving average price of $34.77 and a two-hundred day moving average price of $29.95. The stock has a market capitalization of $8.11 billion, a P/E ratio of 19.23, a PEG ratio of 5.24 and a beta of 0.63. Dropbox, Inc. has a one year low of $21.69 and a one year high of $38.17.
Dropbox (NASDAQ:DBX - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.75 earnings per share 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 company had revenue of $631.50 million for the quarter, compared to analyst estimates of $626.69 million. During the same quarter in the prior year, the company posted $0.71 EPS. The business's revenue for the quarter was up .9% compared to the same quarter last year. Research analysts forecast that Dropbox, Inc. will post 1.94 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Dropbox
Hedge funds have recently made changes to their positions in the stock. Arrowstreet Capital Limited Partnership grew its stake in shares of Dropbox by 12.7% during 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 period. Wedge Capital Management L L P NC increased its holdings in shares of 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 worth $82,552,000 after buying an additional 627,111 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Dropbox in the 1st quarter worth $5,221,000. Corient Private Wealth LP raised its position in shares of Dropbox by 358.4% in the 2nd quarter. Corient Private Wealth LP now owns 244,482 shares of the company's stock worth $6,716,000 after buying an additional 191,147 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Dropbox in the second quarter valued at $4,938,000. Institutional investors and hedge funds own 94.84% of the company's stock.
Analyst Upgrades and Downgrades
DBX has been the topic of several recent analyst reports. Weiss Ratings upgraded Dropbox from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, August 13th. Zacks Research upgraded Dropbox from a "strong sell" rating to a "hold" rating in a report on Tuesday, October 6th. Royal Bank Of Canada restated an "outperform" rating and issued a $42.00 price target on shares of Dropbox in a report on Thursday, September 3rd. Bank of America reaffirmed an "underperform" rating on shares of Dropbox in a research note on Friday, August 7th. Finally, William Blair upgraded shares of Dropbox from an "underperform" rating to a "market perform" rating in a report on Friday, August 7th. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Reduce" and an average target price of $29.75.
Check Out Our Latest Stock Analysis on DBX
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 documents, photos and other content across connected devices, synchronize files and manage shared workflows.
The company's offerings include Dropbox for cloud storage and file collaboration, Dropbox Paper for shared documents and project work, Dropbox Sign for electronic signatures, and DocSend for securely sharing and tracking business documents.
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