Sarah Elizabeth Schubach Sells 1,168 Shares of Dropbox (NASDAQ:DBX) Stock

by · The Cerbat Gem

Dropbox, Inc. (NASDAQ:DBX – Get Free Report) CAO Sarah Elizabeth Schubach sold 1,168 shares of the business’s stock in a transaction that occurred on Monday, December 29th. The shares were sold at an average price of $27.88, for a total transaction of $32,563.84. Following the completion of the sale, the chief accounting officer owned 93,870 shares of the company’s stock, valued at approximately $2,617,095.60. The trade was a 1.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Sarah Elizabeth Schubach also recently made the following trade(s):

  • On Monday, December 1st, Sarah Elizabeth Schubach sold 1,168 shares of Dropbox stock. The stock was sold at an average price of $29.60, for a total transaction of $34,572.80.
  • On Thursday, November 20th, Sarah Elizabeth Schubach sold 1,168 shares of Dropbox stock. The shares were sold at an average price of $29.43, for a total transaction of $34,374.24.
  • On Thursday, October 30th, Sarah Elizabeth Schubach sold 1,066 shares of Dropbox stock. The stock was sold at an average price of $28.40, for a total value of $30,274.40.
  • On Wednesday, October 15th, Sarah Elizabeth Schubach sold 1,066 shares of Dropbox stock. The stock was sold at an average price of $28.62, for a total value of $30,508.92.

Dropbox Stock Performance

Dropbox stock traded up $0.14 during midday trading on Wednesday, reaching $27.80. The stock had a trading volume of 3,224,357 shares, compared to its average volume of 3,652,000. The stock’s 50-day simple moving average is $29.14 and its 200 day simple moving average is $28.84. Dropbox, Inc. has a twelve month low of $24.42 and a twelve month high of $33.33. The stock has a market capitalization of $7.19 billion, a PE ratio of 15.71, a price-to-earnings-growth ratio of 2.39 and a beta of 0.63.

Dropbox (NASDAQ:DBX – Get Free Report) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.10. The company had revenue of $634.40 million for the quarter, compared to the consensus estimate of $623.59 million. Dropbox had a negative return on equity of 49.51% and a net margin of 19.87%.The company’s quarterly revenue was down .7% compared to the same quarter last year. During the same period last year, the business posted $0.60 EPS. Equities analysts predict that Dropbox, Inc. will post 1.64 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. UBS Group downgraded shares of Dropbox from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $29.00 to $27.00 in a research note on Thursday, September 18th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Dropbox in a research report on Wednesday, October 8th. Wall Street Zen upgraded Dropbox from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Finally, Royal Bank Of Canada raised their price objective on Dropbox from $35.00 to $38.00 and gave the company an “outperform” rating in a research report on Friday, November 7th. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $31.75.

Read Our Latest Stock Analysis on DBX

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. LSV Asset Management grew its holdings in Dropbox by 38.1% during the 3rd quarter. LSV Asset Management now owns 11,613,642 shares of the company’s stock valued at $350,848,000 after purchasing an additional 3,205,140 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Dropbox in the 2nd quarter valued at about $56,911,000. Norges Bank purchased a new stake in shares of Dropbox during the second quarter worth about $51,307,000. Allianz Asset Management GmbH lifted its stake in shares of Dropbox by 47.8% in the third quarter. Allianz Asset Management GmbH now owns 2,123,932 shares of the company’s stock worth $64,164,000 after acquiring an additional 686,577 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its stake in shares of Dropbox by 10.0% in the second quarter. Arrowstreet Capital Limited Partnership now owns 6,662,161 shares of the company’s stock worth $190,538,000 after acquiring an additional 605,258 shares in the last quarter. 94.84% of the stock is owned by institutional investors and hedge funds.

About Dropbox

(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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