Sarah Elizabeth Schubach Sells 1,769 Shares of Dropbox (NASDAQ:DBX) Stock
by Teresa Graham · The Cerbat GemDropbox, Inc. (NASDAQ:DBX – Get Free Report) CAO Sarah Elizabeth Schubach sold 1,769 shares of the business’s stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $23.95, for a total value of $42,367.55. Following the sale, the chief accounting officer owned 136,106 shares in the company, valued at $3,259,738.70. The trade was a 1.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at 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 Wednesday, April 15th, Sarah Elizabeth Schubach sold 1,415 shares of Dropbox stock. The shares were sold at an average price of $22.99, for a total transaction of $32,530.85.
- On Tuesday, March 31st, Sarah Elizabeth Schubach sold 1,416 shares of Dropbox stock. The stock was sold at an average price of $22.60, for a total transaction of $32,001.60.
- On Monday, March 16th, Sarah Elizabeth Schubach sold 1,415 shares of Dropbox stock. The stock was sold at an average price of $25.76, for a total transaction of $36,450.40.
- On Monday, March 2nd, Sarah Elizabeth Schubach sold 1,415 shares of Dropbox stock. The stock was sold at an average price of $24.76, for a total transaction of $35,035.40.
- On Wednesday, February 18th, Sarah Elizabeth Schubach sold 1,416 shares of Dropbox stock. The stock was sold at an average price of $24.49, for a total transaction of $34,677.84.
Dropbox Stock Performance
Shares of NASDAQ DBX traded up $0.48 during mid-day trading on Thursday, hitting $25.17. The stock had a trading volume of 1,364,187 shares, compared to its average volume of 3,825,879. The company has a 50 day moving average of $24.33 and a two-hundred day moving average of $26.56. Dropbox, Inc. has a twelve month low of $21.69 and a twelve month high of $32.40. The firm has a market cap of $6.07 billion, a PE ratio of 13.53, a PEG ratio of 1.79 and a beta of 0.64.
Dropbox (NASDAQ:DBX – Get Free Report) last issued its earnings results on Thursday, February 19th. The company reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.02. The firm had revenue of $636.20 million for the quarter, compared to analyst estimates of $627.83 million. Dropbox had a negative return on equity of 37.47% and a net margin of 20.17%.Dropbox’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.73 earnings per share. Equities research analysts predict that Dropbox, Inc. will post 2.03 EPS for the current fiscal year.
Analyst Ratings Changes
A number of research analysts have weighed in on DBX shares. UBS Group decreased their price objective on shares of Dropbox from $27.00 to $23.00 and set a “sell” rating for the company in a research report on Friday, February 20th. Weiss Ratings reissued a “hold (c)” rating on shares of Dropbox in a report on Monday. JPMorgan Chase & Co. reduced their target price on Dropbox from $29.00 to $25.00 and set a “neutral” rating for the company in a research note on Friday, February 20th. William Blair reissued an “underperform” rating on shares of Dropbox in a research note on Monday, March 23rd. Finally, Wall Street Zen downgraded shares of Dropbox from a “buy” rating to a “hold” rating in a report on Friday, January 23rd. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $27.50.
Read Our Latest Research Report on DBX
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of DBX. Rossby Financial LCC grew its stake in shares of Dropbox by 128.5% in the 3rd quarter. Rossby Financial LCC now owns 937 shares of the company’s stock valued at $28,000 after buying an additional 527 shares during the period. Palisade Asset Management LLC purchased a new stake in shares of Dropbox during the 3rd quarter valued at approximately $30,000. First Horizon Corp purchased a new stake in shares of Dropbox during the 3rd quarter valued at approximately $31,000. Kestra Advisory Services LLC acquired a new position in Dropbox in the fourth quarter valued at approximately $31,000. Finally, Larson Financial Group LLC grew its position in Dropbox by 228.0% in the fourth quarter. Larson Financial Group LLC now owns 1,138 shares of the company’s stock worth $32,000 after acquiring an additional 791 shares during the period. Hedge funds and other institutional investors own 94.84% of the company’s stock.
About Dropbox
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.