Insider Selling: Dropbox (NASDAQ:DBX) CAO Sells $36,450.40 in Stock
by Amy Steele · The Cerbat GemDropbox, Inc. (NASDAQ:DBX – Get Free Report) CAO Sarah Elizabeth Schubach sold 1,415 shares of the company’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $25.76, for a total transaction of $36,450.40. Following the completion of the transaction, the chief accounting officer directly owned 83,489 shares of the company’s stock, valued at $2,150,676.64. This represents a 1.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.
Sarah Elizabeth Schubach also recently made the following trade(s):
- On Monday, March 2nd, Sarah Elizabeth Schubach sold 1,415 shares of Dropbox stock. The shares were sold at an average price of $24.76, for a total value of $35,035.40.
- On Wednesday, February 18th, Sarah Elizabeth Schubach sold 1,416 shares of Dropbox stock. The shares were sold at an average price of $24.49, for a total value of $34,677.84.
- On Thursday, January 15th, Sarah Elizabeth Schubach sold 1,168 shares of Dropbox stock. The stock was sold at an average price of $26.84, for a total value of $31,349.12.
- On Monday, December 29th, Sarah Elizabeth Schubach sold 1,168 shares of Dropbox stock. The stock was sold at an average price of $27.88, for a total value of $32,563.84.
Dropbox Trading Down 1.9%
DBX traded down $0.48 on Wednesday, hitting $25.06. 3,132,819 shares of the company’s stock traded hands, compared to its average volume of 4,183,919. The company’s 50 day simple moving average is $25.68 and its 200-day simple moving average is $28.08. Dropbox, Inc. has a one year low of $23.63 and a one year high of $32.40. The firm has a market cap of $6.04 billion, a price-to-earnings ratio of 13.47, a P/E/G ratio of 1.80 and a beta of 0.63.
Dropbox (NASDAQ:DBX – Get Free Report) last posted its quarterly earnings results on Thursday, February 19th. The company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.02. The business had revenue of $636.20 million during the quarter, compared to the consensus estimate of $627.83 million. Dropbox had a negative return on equity of 37.47% and a net margin of 20.17%.The firm’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.73 EPS. As a group, equities analysts anticipate that Dropbox, Inc. will post 1.64 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of analysts have issued reports on the stock. UBS Group reduced their price target on shares of Dropbox from $27.00 to $23.00 and set a “sell” rating on the stock in a report on Friday, February 20th. Weiss Ratings reissued a “hold (c+)” rating on shares of Dropbox in a report on Wednesday, January 21st. Wall Street Zen lowered Dropbox from a “buy” rating to a “hold” rating in a research report on Friday, January 23rd. Royal Bank Of Canada reduced their target price on Dropbox from $35.00 to $30.00 and set an “outperform” rating on the stock in a report on Friday, February 20th. Finally, JPMorgan Chase & Co. decreased their target price on Dropbox from $29.00 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, February 20th. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $27.50.
Read Our Latest Analysis on DBX
Institutional Trading of Dropbox
A number of large investors have recently made changes to their positions in the business. Corient Private Wealth LLC lifted its holdings in shares of Dropbox by 166.6% in the 4th quarter. Corient Private Wealth LLC now owns 61,456 shares of the company’s stock valued at $1,708,000 after acquiring an additional 38,402 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in Dropbox during the fourth quarter worth approximately $103,000. DGS Capital Management LLC increased its stake in Dropbox by 12.9% during the fourth quarter. DGS Capital Management LLC now owns 34,360 shares of the company’s stock worth $955,000 after acquiring an additional 3,933 shares during the last quarter. Kera Capital Partners Inc. raised its position in Dropbox by 79.6% during the fourth quarter. Kera Capital Partners Inc. now owns 23,251 shares of the company’s stock valued at $592,000 after purchasing an additional 10,306 shares during the period. Finally, Mercer Global Advisors Inc. ADV raised its position in Dropbox by 37.0% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 56,772 shares of the company’s stock valued at $1,578,000 after purchasing an additional 15,318 shares during the period. 94.84% of the stock is currently owned by institutional investors.
Dropbox Company Profile
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.