Dropbox (NASDAQ:DBX) CAO Sells $36,096.30 in Stock

Key Points

• Dropbox CAO Sarah Elizabeth Schubach sold 1,305 shares on June 1 for about $36,096 at an average price of $27.66. The sale was made under a pre-arranged Rule 10b5-1 trading plan, and she still directly owns 129,815 shares.
• Dropbox reported stronger-than-expected quarterly results on May 7, posting EPS of $0.76 versus estimates of $0.71 and revenue of $629.5 million versus forecasts of $620.56 million. Revenue rose 0.8% year over year.
• Analysts remain cautious on DBX, with a consensus rating of “Reduce” and an average price target of $27.00. While some firms nudged targets up or reaffirmed neutral/outperform views, others maintained sell ratings.

Dropbox, Inc. (NASDAQ:DBX - Get Free Report) CAO Sarah Elizabeth Schubach sold 1,305 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $27.66, for a total transaction of $36,096.30. Following the sale, the chief accounting officer directly owned 129,815 shares in the company, valued at approximately $3,590,682.90. The trade was a 1.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 Tuesday, May 19th, Sarah Elizabeth Schubach sold 1,306 shares of Dropbox stock. The shares were 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 shares were 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.
• On Monday, March 16th, Sarah Elizabeth Schubach sold 1,415 shares of Dropbox stock. The shares were sold at an average price of $25.76, for a total transaction of $36,450.40.

Dropbox Price Performance

Dropbox stock traded down $0.56 during midday trading on Wednesday, reaching $27.60. The company had a trading volume of 3,534,098 shares, compared to its average volume of 3,989,625. The company has a market capitalization of $6.44 billion, a P/E ratio of 15.08, a P/E/G ratio of 3.17 and a beta of 0.67. Dropbox, Inc. has a 12-month low of $21.69 and a 12-month high of $32.40. The firm's fifty day simple moving average is $24.81 and its 200-day simple moving average is $26.24.

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

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. decreased their price target on shares of Dropbox from $29.00 to $25.00 and set a "neutral" rating on the stock in a research note on Friday, February 20th. Citigroup raised their price target on shares of Dropbox from $27.00 to $28.00 and gave the company a "neutral" rating in a research note on Monday, May 11th. Weiss Ratings reiterated a "hold (c)" rating on shares of Dropbox in a report on Monday, May 4th. Royal Bank Of Canada restated an "outperform" rating on shares of Dropbox in a report on Monday. Finally, UBS Group dropped their price target on Dropbox from $27.00 to $23.00 and set a "sell" rating for the company in a research report on Friday, February 20th. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Reduce" and an average price target of $27.00.

Institutional Investors Weigh In On Dropbox

Hedge funds and other institutional investors have recently made changes to their positions in the stock. LSV Asset Management increased its holdings in shares of Dropbox by 38.1% during the 3rd quarter. LSV Asset Management now owns 11,613,642 shares of the company's stock worth $350,848,000 after buying an additional 3,205,140 shares during the last quarter. Arbejdsmarkedets Tillaegspension acquired a new stake in shares of Dropbox during the 4th quarter worth approximately $22,050,000. Intech Investment Management LLC increased 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 worth $12,324,000 after buying an additional 220,176 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of Dropbox by 57.9% during the 4th quarter. Nisa Investment Advisors LLC now owns 223,706 shares of the company's stock worth $6,219,000 after buying an additional 82,053 shares during the last quarter. Finally, Tudor Investment Corp ET AL increased its holdings in shares of Dropbox by 3,963.5% during the 3rd quarter. Tudor Investment Corp ET AL now owns 312,892 shares of the company's stock worth $9,452,000 after buying an additional 305,192 shares during the last quarter. Institutional investors and hedge funds 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.

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