Dropbox (NASDAQ:DBX) CAO Sarah Elizabeth Schubach Sells 1,769 Shares

Key Points

• Dropbox CAO Sarah Elizabeth Schubach sold 1,769 shares on April 30 at an average price of $23.95 under a pre-arranged Rule 10b5-1 plan, trimming her stake by 1.28% to 136,106 shares valued at about $3.26 million.
• Schubach has made multiple recent sales (Feb 18, Mar 2, Mar 16, Mar 31, Apr 15), each roughly 1,415–1,416 shares at prices between about $22.60 and $25.76, suggesting a pattern of scheduled disposals.
• Dropbox slightly beat the quarter (EPS $0.68 vs. $0.66; revenue $636.2M vs. $627.8M) despite revenue being down 1.1% YoY; the stock traded at $25.17 (up 2%) with a market cap of ~$6.07B and a consensus analyst rating of Reduce (average target $27.50).

Dropbox, Inc. (NASDAQ:DBX - Get Free Report) CAO Sarah Elizabeth Schubach sold 1,769 shares of Dropbox 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 completion of the sale, the chief accounting officer directly owned 136,106 shares in the company, valued at $3,259,738.70. This trade represents a 1.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through 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 value 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 value 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 value of $36,450.40.
• On Monday, March 2nd, Sarah Elizabeth Schubach sold 1,415 shares of Dropbox stock. The shares were sold at an average price of $24.76, for a total value of $35,035.40.
• On Wednesday, February 18th, Sarah Elizabeth Schubach sold 1,416 shares of Dropbox stock. The shares were sold at an average price of $24.49, for a total transaction of $34,677.84.

Dropbox Stock Up 2.0%

Dropbox stock traded up $0.48 during mid-day trading on Thursday, reaching $25.17. 1,364,187 shares of the company's stock traded hands, compared to its average volume of 3,825,879. Dropbox, Inc. has a 12-month low of $21.69 and a 12-month high of $32.40. The stock has a 50 day moving average of $24.33 and a two-hundred day moving average of $26.56. The company has a market cap of $6.07 billion, a price-to-earnings 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 quarterly earnings data on Thursday, February 19th. The company reported $0.68 EPS for the quarter, topping analysts' consensus estimates of $0.66 by $0.02. The business had revenue of $636.20 million during the quarter, compared to analysts' expectations of $627.83 million. Dropbox had a net margin of 20.17% and a negative return on equity of 37.47%. The business's revenue was down 1.1% on a year-over-year basis. During the same period last year, the company posted $0.73 EPS. As a group, sell-side analysts forecast that Dropbox, Inc. will post 2.03 earnings per share for the current year.

Hedge Funds Weigh In On Dropbox

A number of hedge funds have recently added to or reduced their stakes in DBX. LSV Asset Management boosted its stake in Dropbox by 38.1% in the third quarter. LSV Asset Management now owns 11,613,642 shares of the company's stock valued at $350,848,000 after acquiring an additional 3,205,140 shares in the last quarter. Intech Investment Management LLC lifted its holdings in shares of Dropbox by 117.3% during the 3rd quarter. Intech Investment Management LLC now owns 407,958 shares of the company's stock valued at $12,324,000 after purchasing an additional 220,176 shares during the last quarter. Tudor Investment Corp ET AL boosted its position in shares of Dropbox by 3,963.5% in the 3rd quarter. Tudor Investment Corp ET AL now owns 312,892 shares of the company's stock worth $9,452,000 after purchasing an additional 305,192 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Dropbox by 57.9% in the 4th quarter. Nisa Investment Advisors LLC now owns 223,706 shares of the company's stock worth $6,219,000 after purchasing an additional 82,053 shares in the last quarter. Finally, WINTON GROUP Ltd purchased a new position in Dropbox during the 3rd quarter worth $4,497,000. 94.84% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on DBX. Weiss Ratings reissued a "hold (c)" rating on shares of Dropbox in a research report on Monday. Wall Street Zen downgraded shares of Dropbox from a "buy" rating to a "hold" rating in a research note on Friday, January 23rd. JPMorgan Chase & Co. dropped their price target on shares of 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 report on Monday, March 23rd. Finally, Royal Bank Of Canada decreased their price objective on shares of Dropbox from $35.00 to $30.00 and set an "outperform" rating for the company in a research note on Friday, February 20th. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Reduce" and an average price target of $27.50.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.