Dropbox (NASDAQ:DBX) CAO Sarah Elizabeth Schubach Sells 1,066 Shares

Key Points

• Sarah Elizabeth Schubach, the Chief Accounting Officer of Dropbox, sold 1,066 shares of the company's stock on October 15th for $28.62 each, totaling approximately $30,508.92, reducing her ownership by 1.01%.
• Dropbox's recent quarterly earnings reported a profit of $0.71 per share, exceeding expectations, although revenue was down 1.4% year-over-year at $625.70 million.
• Brokerages have reacted to Dropbox with mixed ratings, with UBS downgrading the stock from "neutral" to "sell," highlighting a price target reduction from $29.00 to $27.00.

Dropbox, Inc. (NASDAQ:DBX - Get Free Report) CAO Sarah Elizabeth Schubach sold 1,066 shares of the business's stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $28.62, for a total transaction of $30,508.92. Following the completion of the transaction, the chief accounting officer owned 104,657 shares in the company, valued at approximately $2,995,283.34. The trade was a 1.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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

• 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 Up 2.6%

NASDAQ DBX traded up $0.73 during trading hours on Friday, hitting $29.11. 2,591,188 shares of the company's stock were exchanged, compared to its average volume of 3,657,495. Dropbox, Inc. has a 1-year low of $24.42 and a 1-year high of $33.33. The stock has a 50-day simple moving average of $29.44 and a 200 day simple moving average of $28.47. The firm has a market cap of $7.86 billion, a price-to-earnings ratio of 17.75, a PEG ratio of 3.81 and a beta of 0.67.

Dropbox (NASDAQ:DBX - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.08. The company had revenue of $625.70 million during the quarter, compared to analyst estimates of $618.60 million. Dropbox had a net margin of 19.17% and a negative return on equity of 61.31%. Dropbox's revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.60 EPS. On average, sell-side analysts anticipate that Dropbox, Inc. will post 1.64 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have commented on DBX. Weiss Ratings reissued a "hold (c+)" rating on shares of Dropbox in a research note on Wednesday, October 8th. UBS Group downgraded shares of Dropbox from a "neutral" rating to a "sell" rating and lowered their price objective for the stock from $29.00 to $27.00 in a report on Thursday, September 18th. Finally, Wall Street Zen lowered shares of Dropbox from a "buy" rating to a "hold" rating in a research note on Friday, September 5th. Three investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Reduce" and an average target price of $29.67.

Institutional Investors Weigh In On Dropbox

A number of institutional investors have recently added to or reduced their stakes in the company. SGL Investment Advisors Inc. boosted its position in shares of Dropbox by 2.4% during the second quarter. SGL Investment Advisors Inc. now owns 16,143 shares of the company's stock valued at $442,000 after buying an additional 375 shares during the last quarter. SBI Securities Co. Ltd. boosted its stake in shares of Dropbox by 33.4% in the 1st quarter. SBI Securities Co. Ltd. now owns 1,794 shares of the company's stock worth $48,000 after buying an additional 449 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Dropbox by 5.7% in the second quarter. PNC Financial Services Group Inc. now owns 8,607 shares of the company's stock worth $246,000 after acquiring an additional 461 shares during the period. Elequin Capital LP increased its position in Dropbox by 71.0% during the first quarter. Elequin Capital LP now owns 1,130 shares of the company's stock valued at $30,000 after acquiring an additional 469 shares during the last quarter. Finally, Fifth Third Bancorp lifted its holdings in Dropbox by 27.3% in the first quarter. Fifth Third Bancorp now owns 2,288 shares of the company's stock valued at $61,000 after acquiring an additional 490 shares during the period. 94.84% of the stock is owned by institutional investors.

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.

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