Insider Selling: Dropbox (NASDAQ:DBX) CAO Sells 1,306 Shares of Stock

Key Points

• Dropbox CAO Sarah Elizabeth Schubach sold 1,306 shares on May 19 at an average price of $28.14, worth about $36,751. The sale was made under a pre-arranged Rule 10b5-1 plan to cover tax withholding tied to equity vesting.
• Following the transaction, Schubach still held 131,120 shares valued at roughly $3.69 million, and the latest sale reduced her position by 0.99%.
• Dropbox shares were down 1.6% to $27.53, while the company recently beat quarterly earnings expectations with $0.76 EPS versus the $0.71 estimate and revenue of $629.5 million.

Dropbox, Inc. (NASDAQ:DBX - Get Free Report) CAO Sarah Elizabeth Schubach sold 1,306 shares of the business's stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $28.14, for a total value of $36,750.84. Following the transaction, the chief accounting officer directly owned 131,120 shares of the company's stock, valued at approximately $3,689,716.80. The trade was a 0.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• 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 stock was 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 stock was sold at an average price of $25.76, for a total transaction of $36,450.40.
• On Monday, March 2nd, Sarah Elizabeth Schubach sold 1,415 shares of Dropbox stock. The stock was sold at an average price of $24.76, for a total transaction of $35,035.40.
• On Wednesday, February 18th, Sarah Elizabeth Schubach sold 1,416 shares of Dropbox stock. The stock was sold at an average price of $24.49, for a total transaction of $34,677.84.

Dropbox Stock Down 1.6%

Shares of NASDAQ DBX traded down $0.45 during midday trading on Tuesday, reaching $27.53. 4,028,469 shares of the company were exchanged, compared to its average volume of 3,994,343. The stock's 50-day moving average price is $24.55 and its 200-day moving average price is $26.41. The stock has a market cap of $6.42 billion, a P/E ratio of 15.04, a PEG ratio of 3.02 and a beta of 0.64. Dropbox, Inc. has a one year low of $21.69 and a one year high of $32.40.

Dropbox (NASDAQ:DBX - Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported $0.76 earnings per share for the quarter, topping analysts' consensus estimates of $0.71 by $0.05. The firm had revenue of $629.50 million for the quarter, compared to analysts' expectations of $620.56 million. Dropbox had a net margin of 18.71% and a negative return on equity of 30.01%. The company's revenue was up .8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.70 earnings per share. On average, equities research analysts anticipate that Dropbox, Inc. will post 2.03 EPS for the current year.

Analysts Set New Price Targets

DBX has been the topic of a number of research reports. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Dropbox in a research note on Monday, May 4th. JPMorgan Chase & Co. cut their price target on shares of Dropbox from $29.00 to $25.00 and set a "neutral" rating on the stock in a report on Friday, February 20th. Wall Street Zen raised shares of Dropbox from a "hold" rating to a "buy" rating in a research note on Saturday. Royal Bank Of Canada raised their target price on Dropbox from $30.00 to $32.00 and gave the stock an "outperform" rating in a research report on Friday, May 8th. Finally, William Blair reaffirmed an "underperform" rating on shares of Dropbox in a report on Monday, March 23rd. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Reduce" and an average price target of $27.00.

Institutional Trading of Dropbox

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rossby Financial LCC raised its holdings in Dropbox by 128.5% during the 3rd quarter. Rossby Financial LCC now owns 937 shares of the company's stock worth $28,000 after purchasing an additional 527 shares during the last quarter. Palisade Asset Management LLC bought a new position in Dropbox during the third quarter worth $30,000. First Horizon Corp acquired a new position in Dropbox in the third quarter valued at $31,000. Kestra Advisory Services LLC acquired a new position in Dropbox in the fourth quarter valued at $31,000. Finally, Larson Financial Group LLC lifted its holdings in Dropbox by 228.0% in the fourth quarter. Larson Financial Group LLC now owns 1,138 shares of the company's stock valued at $32,000 after buying an additional 791 shares during the period. 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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