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

Dropbox, Inc. (NASDAQ:DBX) CAO Sarah Elizabeth Schubach sold 1,168 shares of the firm’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $29.60, for a total value of $34,572.80. Following the completion of the sale, the chief accounting officer directly owned 96,206 shares of the company’s stock, valued at $2,847,697.60. The trade was a 1.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Thursday, November 20th, Sarah Elizabeth Schubach sold 1,168 shares of Dropbox stock. The stock was sold at an average price of $29.43, for a total value 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 transaction of $30,274.40.
• On Wednesday, October 15th, Sarah Elizabeth Schubach sold 1,066 shares of Dropbox stock. The shares were sold at an average price of $28.62, for a total value of $30,508.92.
• On Tuesday, September 30th, Sarah Elizabeth Schubach sold 1,066 shares of Dropbox stock. The shares were sold at an average price of $30.71, for a total value of $32,736.86.

Dropbox Trading Down 0.5%

DBX opened at $29.78 on Friday. The firm has a 50 day moving average of $29.53 and a two-hundred day moving average of $28.90. Dropbox, Inc. has a 12-month low of $24.42 and a 12-month high of $33.33. The firm has a market capitalization of $7.71 billion, a PE ratio of 16.82, a P/E/G ratio of 2.56 and a beta of 0.63.

Dropbox (NASDAQ:DBX) last posted its earnings results on Thursday, November 6th. The company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.10. The company had revenue of $634.40 million during the quarter, compared to the consensus estimate of $623.59 million. Dropbox had a net margin of 19.87% and a negative return on equity of 49.51%. The firm’s quarterly revenue was down .7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.60 earnings per share. As a group, analysts predict that Dropbox, Inc. will post 1.64 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on DBX. 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 report on Thursday, September 18th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Dropbox in a research note on Wednesday, October 8th. Royal Bank Of Canada increased their price target on Dropbox from $35.00 to $38.00 and gave the company an “outperform” rating in a report on Friday, November 7th. Finally, Wall Street Zen upgraded shares of Dropbox from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $31.75.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in DBX. Cetera Investment Advisers increased its holdings in Dropbox by 29.9% in the first quarter. Cetera Investment Advisers now owns 22,218 shares of the company’s stock valued at $593,000 after buying an additional 5,117 shares during the last quarter. Federated Hermes Inc. grew its position in shares of Dropbox by 18.2% during the first quarter. Federated Hermes Inc. now owns 25,572 shares of the company’s stock worth $683,000 after acquiring an additional 3,929 shares during the last quarter. Natixis Advisors LLC grew its position in Dropbox by 32.0% during the 1st quarter. Natixis Advisors LLC now owns 14,410 shares of the company’s stock worth $385,000 after purchasing an additional 3,497 shares during the last quarter. PNC Financial Services Group Inc. increased its position in Dropbox by 12.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 8,146 shares of the company’s stock valued at $218,000 after acquiring an additional 874 shares during the period. Finally, Bank of Nova Scotia acquired a new position in shares of Dropbox in the first quarter valued at approximately $4,600,000. Institutional investors and hedge funds own 94.84% of the company’s stock.

About Dropbox

Dropbox, Inc provides a content collaboration platform worldwide. The company's platform allows individuals, families, teams, and organizations to collaborate and sign up for free through its website or app, as well as upgrade to a paid subscription plan for premium features. It serves customers in professional services, technology, media, education, industrial, consumer and retail, and financial services industries.