Dropbox (NASDAQ:DBX) Stock: Insider Sarah Elizabeth Schubach Sells 2,025 Shares

Key Points

• Dropbox CAO Sarah Schubach sold 2,025 shares at an average price of $32.54, worth $65,893.50, under a pre-arranged Rule 10b5-1 trading plan. She retains 132,809 shares valued at approximately $4.32 million.
• Dropbox shares traded at $33.90, with a market capitalization of $7.65 billion, after recently ranging between $21.69 and $38.17. The company’s latest quarterly results modestly exceeded analyst expectations, with $0.75 EPS and $631.5 million in revenue.
• Analyst sentiment remains cautious, with a consensus “Reduce” rating and an average price target of $29.75. Institutional investors own approximately 94.84% of Dropbox’s outstanding shares.

Dropbox, Inc. (NASDAQ:DBX - Get Free Report) CAO Sarah Schubach sold 2,025 shares of the business's stock in a transaction dated Wednesday, September 30th. The shares were sold at an average price of $32.54, for a total transaction of $65,893.50. Following the sale, the chief accounting officer directly owned 132,809 shares of the company's stock, valued at approximately $4,321,604.86. This represents a 1.50% decrease in their position. The sale was disclosed in a legal 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, September 15th, Sarah Schubach sold 2,025 shares of Dropbox stock. The stock was sold at an average price of $36.78, for a total transaction of $74,479.50.
• On Monday, August 31st, Sarah Schubach sold 1,631 shares of Dropbox stock. The shares were sold at an average price of $35.50, for a total value of $57,900.50.
• On Thursday, August 20th, Sarah Schubach sold 1,631 shares of Dropbox stock. The shares were sold at an average price of $34.01, for a total value of $55,470.31.
• On Friday, July 31st, Sarah Schubach sold 1,632 shares of Dropbox stock. The stock was sold at an average price of $31.61, for a total value of $51,587.52.

Dropbox Price Performance

Shares of NASDAQ DBX traded down $0.18 during mid-day trading on Friday, hitting $33.90. The company had a trading volume of 2,634,517 shares, compared to its average volume of 4,054,515. The stock has a market cap of $7.65 billion, a price-to-earnings ratio of 18.83, a PEG ratio of 4.98 and a beta of 0.63. Dropbox, Inc. has a 12 month low of $21.69 and a 12 month high of $38.17. The firm's 50 day simple moving average is $34.34 and its two-hundred day simple moving average is $29.03.

Dropbox (NASDAQ:DBX - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.74 by $0.01. Dropbox had a negative return on equity of 24.26% and a net margin of 17.49%.The business had revenue of $631.50 million during the quarter, compared to analyst estimates of $626.69 million. During the same quarter in the previous year, the firm posted $0.71 EPS. The business's revenue for the quarter was up .9% compared to the same quarter last year. Equities analysts forecast that Dropbox, Inc. will post 1.94 earnings per share for the current year.

Analyst Upgrades and Downgrades

DBX has been the topic of a number of analyst reports. Bank of America reaffirmed an "underperform" rating on shares of Dropbox in a report on Friday, August 7th. Wall Street Zen lowered shares of Dropbox from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Zacks Research cut shares of Dropbox from a "hold" rating to a "strong sell" rating in a research report on Wednesday, August 19th. Royal Bank Of Canada restated an "outperform" rating and issued a $42.00 price target on shares of Dropbox in a research note on Thursday, September 3rd. Finally, William Blair raised Dropbox from an "underperform" rating to a "market perform" rating in a report on Friday, August 7th. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, Dropbox has a consensus rating of "Reduce" and an average target price of $29.75.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Arrowstreet Capital Limited Partnership raised its stake in shares of Dropbox by 12.7% during 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 in the last quarter. Wedge Capital Management L L P NC grew its position in Dropbox by 26.4% in the 2nd quarter. Wedge Capital Management L L P NC now owns 3,005,173 shares of the company's stock valued at $82,552,000 after buying an additional 627,111 shares in the last quarter. Allianz Asset Management GmbH grew its position in Dropbox by 28.1% in the 4th quarter. Allianz Asset Management GmbH now owns 2,720,372 shares of the company's stock valued at $75,626,000 after buying an additional 596,440 shares in the last quarter. Norges Bank bought a new position in Dropbox in the 4th quarter valued at about $69,909,000. Finally, Pacer Advisors Inc. increased its stake in Dropbox by 2.8% during the 1st quarter. Pacer Advisors Inc. now owns 2,047,966 shares of the company's stock valued at $46,530,000 after buying an additional 55,921 shares during the period. Institutional investors own 94.84% of the company's stock.

About Dropbox

Dropbox, Inc NASDAQ: DBX is a software company that provides cloud-based tools for storing, organizing, sharing and collaborating on files. Its platform enables individuals, businesses and teams to access files across devices, synchronize content and manage collaboration through web, desktop and mobile applications.

The company's product portfolio includes Dropbox for cloud storage and file collaboration, Dropbox Sign for electronic signatures and document workflows, and DocSend for securely sharing and tracking business documents.

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