Insider Selling: Dropbox (NASDAQ:DBX) CAO Sells 1,066 Shares of Stock

Key Points

• Sarah Elizabeth Schubach, CAO of Dropbox, sold 1,066 shares at an average price of $30.71, decreasing her ownership by 1.00% and valuing her remaining shares at over $3.2 million.
• Dropbox's stock recently traded at $29.85, showing a 1-year low of $24.42 and a high of $33.33, with analysts rating the stock as "Reduce" and a price target of $29.67.
• The company's latest quarterly earnings report surpassed estimates, with an EPS of $0.71 and revenue of $625.70 million, despite a 1.4% decline year-over-year.

Dropbox, Inc. (NASDAQ:DBX - Get Free Report) CAO Sarah Elizabeth Schubach sold 1,066 shares of the firm's stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $30.71, for a total value of $32,736.86. Following the completion of the transaction, the chief accounting officer directly owned 105,723 shares of the company's stock, valued at $3,246,753.33. 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 through this link.

Dropbox Stock Performance

DBX stock traded up $0.33 on Thursday, reaching $29.85. The company had a trading volume of 2,554,630 shares, compared to its average volume of 3,722,266. Dropbox, Inc. has a 1 year low of $24.42 and a 1 year high of $33.33. The company has a market cap of $8.06 billion, a P/E ratio of 18.20, a PEG ratio of 4.00 and a beta of 0.67. The company's fifty day moving average is $29.03 and its 200 day moving average is $28.30.

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

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on DBX shares. Wall Street Zen downgraded shares of Dropbox from a "buy" rating to a "hold" rating in a research note on Friday, September 5th. UBS Group downgraded shares of Dropbox from a "neutral" rating to a "sell" rating and reduced their price target for the stock from $29.00 to $27.00 in a research report on Thursday, September 18th. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Reduce" and a consensus target price of $29.67.

Institutional Trading of Dropbox

Several hedge funds and other institutional investors have recently modified their holdings of the business. Elequin Capital LP boosted its position in Dropbox by 71.0% during the 1st quarter. Elequin Capital LP now owns 1,130 shares of the company's stock worth $30,000 after acquiring an additional 469 shares during the period. Neo Ivy Capital Management bought a new position in Dropbox during the second quarter valued at approximately $30,000. Geneos Wealth Management Inc. grew its position in Dropbox by 78.0% in the second quarter. Geneos Wealth Management Inc. now owns 1,273 shares of the company's stock worth $36,000 after acquiring an additional 558 shares in the last quarter. Brooklyn Investment Group increased its stake in shares of Dropbox by 250.3% during the 1st quarter. Brooklyn Investment Group now owns 1,387 shares of the company's stock worth $37,000 after purchasing an additional 991 shares during the last quarter. Finally, Cullen Frost Bankers Inc. acquired a new stake in shares of Dropbox in the 2nd quarter valued at $41,000. Institutional investors and hedge funds own 94.84% of the company's stock.

Dropbox Company Profile

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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