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

Key Points

• Dropbox CAO Sarah Elizabeth Schubach sold 1,306 shares on June 15 at an average price of $26.90, totaling about $35,131. The sale was made under a pre-arranged Rule 10b5-1 trading plan, and her remaining direct holdings were valued at roughly $3.46 million.
• DBX shares were down 3.3% in Wednesday trading, falling to $26.41 on higher-than-average volume. The stock has traded between $21.69 and $32.40 over the past 12 months.
• Dropbox recently beat earnings expectations, reporting quarterly EPS of $0.76 versus the $0.71 consensus and revenue of $629.5 million, slightly ahead of estimates. Analysts currently have a mixed view, with a consensus rating of “Reduce” and an average price target of $27.00.

Dropbox, Inc. (NASDAQ:DBX - Get Free Report) CAO Sarah Elizabeth Schubach sold 1,306 shares of the firm's stock in a transaction on Monday, June 15th. The shares were sold at an average price of $26.90, for a total transaction of $35,131.40. Following the completion of the transaction, the chief accounting officer directly owned 128,509 shares of the company's stock, valued at approximately $3,456,892.10. The trade was a 1.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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, June 1st, Sarah Elizabeth Schubach sold 1,305 shares of Dropbox stock. The stock was sold at an average price of $27.66, for a total value of $36,096.30.
• On Tuesday, May 19th, Sarah Elizabeth Schubach sold 1,306 shares of Dropbox stock. The stock was 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 stock was sold at an average price of $22.60, for a total transaction of $32,001.60.

Dropbox Trading Down 3.3%

DBX stock traded down $0.89 on Wednesday, hitting $26.41. The company had a trading volume of 5,028,169 shares, compared to its average volume of 3,953,121. Dropbox, Inc. has a 12-month low of $21.69 and a 12-month high of $32.40. The stock's 50-day simple moving average is $25.73 and its 200 day simple moving average is $26.06. The stock has a market cap of $6.16 billion, a price-to-earnings ratio of 14.43, a P/E/G ratio of 2.98 and a beta of 0.67.

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

Hedge Funds Weigh In On Dropbox

A number of large investors have recently made changes to their positions in DBX. Rossby Financial LCC lifted its holdings in Dropbox by 128.5% during the 3rd quarter. Rossby Financial LCC now owns 937 shares of the company's stock valued at $28,000 after buying an additional 527 shares in the last quarter. Palisade Asset Management LLC bought a new stake in Dropbox during the 3rd quarter valued at about $30,000. Kestra Advisory Services LLC bought a new stake in Dropbox during the 4th quarter valued at about $31,000. Larson Financial Group LLC lifted its holdings in Dropbox by 228.0% during the 4th 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 in the last quarter. Finally, Geneos Wealth Management Inc. lifted its holdings in Dropbox by 78.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 1,273 shares of the company's stock valued at $36,000 after buying an additional 558 shares in the last quarter. 94.84% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

DBX has been the topic of several recent analyst reports. Weiss Ratings restated a "hold (c)" rating on shares of Dropbox in a research report on Monday, May 4th. Wall Street Zen upgraded shares of Dropbox from a "hold" rating to a "buy" rating in a research report on Saturday, May 16th. Citigroup raised their price objective on shares of Dropbox from $27.00 to $28.00 and gave the company a "neutral" rating in a research report on Monday, May 11th. UBS Group decreased their price objective on shares of Dropbox from $27.00 to $23.00 and set a "sell" rating on the stock in a research report on Friday, February 20th. Finally, Royal Bank Of Canada reiterated an "outperform" rating on shares of Dropbox in a report on Monday, June 1st. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Reduce" and a consensus price target of $27.00.

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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