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

Key Points

• Dropbox CAO Sarah Schubach sold 2,025 shares for approximately $74,480 under a pre-arranged Rule 10b5-1 trading plan, reducing her ownership by 1.48% while retaining 134,834 shares.
• Dropbox shares traded near a 52-week high at $37.61, while the company’s latest quarterly results modestly exceeded expectations with $0.75 adjusted EPS and $631.5 million in revenue.
• Analyst sentiment remains cautious: Dropbox has a consensus “Reduce” rating and a $30.75 target price, despite 94.84% institutional ownership and some hedge funds increasing their stakes.

Dropbox, Inc. (NASDAQ:DBX - Get Free Report) CAO Sarah Schubach sold 2,025 shares of Dropbox stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $36.78, for a total value of $74,479.50. Following the completion of the transaction, the chief accounting officer owned 134,834 shares in the company, valued at $4,959,194.52. The trade was a 1.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• 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 stock was 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.
• On Tuesday, June 30th, Sarah Schubach sold 1,305 shares of Dropbox stock. The shares were sold at an average price of $27.11, for a total transaction of $35,378.55.

Dropbox Trading Down 0.3%

Shares of DBX traded down $0.13 during midday trading on Thursday, hitting $37.61. The stock had a trading volume of 4,137,464 shares, compared to its average volume of 3,961,350. Dropbox, Inc. has a fifty-two week low of $21.69 and a fifty-two week high of $38.17. The business has a 50-day simple moving average of $33.35 and a two-hundred day simple moving average of $28.40. The firm has a market cap of $8.49 billion, a P/E ratio of 20.89, a price-to-earnings-growth ratio of 5.54 and a beta of 0.65.

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

Analysts Set New Price Targets

Several brokerages have recently commented on DBX. Bank of America reaffirmed an "underperform" rating on shares of Dropbox in a research report on Friday, August 7th. Weiss Ratings raised Dropbox from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, August 13th. Royal Bank Of Canada reissued an "outperform" rating and issued a $42.00 price objective on shares of Dropbox in a research note on Thursday, September 3rd. Wall Street Zen lowered Dropbox from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Finally, Zacks Research cut Dropbox from a "hold" rating to a "strong sell" rating in a research note on Wednesday, August 19th. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, Dropbox presently has a consensus rating of "Reduce" and a consensus target price of $30.75.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of DBX. Pacer Advisors Inc. grew its stake in shares of Dropbox by 2.8% in 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 in the last quarter. ING Groep NV bought a new position in Dropbox during the fourth quarter valued at approximately $1,223,000. Jupiter Asset Management Ltd. bought a new position in Dropbox during the fourth quarter valued at approximately $1,591,000. OP Asset Management Ltd acquired a new stake in Dropbox in the first quarter valued at approximately $3,196,000. Finally, Wedge Capital Management L L P NC lifted its stake in Dropbox by 26.4% in the second 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 acquiring an additional 627,111 shares during the last quarter. 94.84% of the stock is owned by institutional investors and hedge funds.

About Dropbox

Dropbox, Inc NASDAQ: DBX is a technology company that provides cloud-based file storage, synchronization, sharing and collaboration services. Its platform enables individuals, businesses and organizations to store files online, access them across connected devices, and collaborate on documents and other digital content.

The company's offerings include Dropbox for file management and collaboration, Dropbox Paper for shared document and project work, Dropbox Sign for electronic signatures, and DocSend for securely sharing and tracking business documents.

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