Insider Selling: Dropbox (NASDAQ:DBX) CAO Sells $35,131.40 in Stock

Dropbox, Inc. (NASDAQ:DBX) CAO Sarah Elizabeth Schubach sold 1,306 shares of the stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $26.90, for a total transaction of $35,131.40. Following the completion of the sale, the chief accounting officer directly owned 128,509 shares in the company, valued at approximately $3,456,892.10. The trade was a 1.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at 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 Monday, June 1st, Sarah Elizabeth Schubach sold 1,305 shares of Dropbox stock. The shares were sold at an average price of $27.66, for a total transaction of $36,096.30.
• On Tuesday, May 19th, Sarah Elizabeth Schubach sold 1,306 shares of Dropbox stock. The stock was sold at an average price of $28.14, for a total transaction of $36,750.84.
• On Thursday, April 30th, Sarah Elizabeth Schubach sold 1,769 shares of Dropbox stock. The stock was sold at an average price of $23.95, for a total transaction of $42,367.55.
• 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 shares were sold at an average price of $22.60, for a total transaction of $32,001.60.

Dropbox Price Performance

DBX opened at $25.97 on Friday. The firm has a market capitalization of $6.06 billion, a P/E ratio of 14.19, a price-to-earnings-growth ratio of 2.84 and a beta of 0.67. Dropbox, Inc. has a one year low of $21.69 and a one year high of $32.40. The company has a fifty day moving average price of $25.90 and a 200-day moving average price of $26.01.

Dropbox (NASDAQ:DBX) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.05. Dropbox had a negative return on equity of 30.01% and a net margin of 18.71%.The company had revenue of $629.50 million for the quarter, compared to the consensus estimate of $620.56 million. During the same quarter last year, the business posted $0.70 earnings per share. The firm’s revenue was up .8% compared to the same quarter last year. On average, analysts expect that Dropbox, Inc. will post 2.09 earnings per share for the current year.

Institutional Investors Weigh In On Dropbox

A number of hedge funds and other institutional investors have recently modified their holdings of DBX. Norges Bank bought a new position in Dropbox during the 4th quarter worth approximately $69,909,000. Arrowstreet Capital Limited Partnership lifted its position in Dropbox by 12.7% in the first quarter. Arrowstreet Capital Limited Partnership now owns 8,533,736 shares of the company’s stock valued at $193,886,000 after purchasing an additional 960,109 shares during the last quarter. Arbejdsmarkedets Tillaegspension bought a new stake in Dropbox in the fourth quarter valued at approximately $22,050,000. Allianz Asset Management GmbH boosted its stake in shares of Dropbox by 28.1% during the fourth quarter. Allianz Asset Management GmbH now owns 2,720,372 shares of the company’s stock valued at $75,626,000 after purchasing an additional 596,440 shares during the period. Finally, Northern Trust Corp boosted its stake in shares of Dropbox by 29.1% during the third quarter. Northern Trust Corp now owns 2,488,077 shares of the company’s stock valued at $75,165,000 after purchasing an additional 560,694 shares during the period. Institutional investors own 94.84% of the company’s stock.

Analysts Set New Price Targets

DBX has been the subject of several recent analyst reports. UBS Group cut their price objective on Dropbox from $27.00 to $23.00 and set a “sell” rating for the company in a report on Friday, February 20th. Wall Street Zen cut shares of Dropbox from a “buy” rating to a “hold” rating in a research report on Saturday. Citigroup lifted their price objective on shares of Dropbox from $27.00 to $28.00 and gave the stock a “neutral” rating in a report on Monday, May 11th. JPMorgan Chase & Co. cut their target price on shares of Dropbox from $29.00 to $25.00 and set a “neutral” rating for the company in a research report on Friday, February 20th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Dropbox in a research note on Monday, May 4th. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $27.00.

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.