Sarah Elizabeth Schubach Sells 1,631 Shares of Dropbox (NASDAQ:DBX) Stock

Key Points

• Dropbox CAO Sarah Elizabeth Schubach sold 1,631 shares at an average price of $34.01, totaling $55,470.31, under a pre-arranged Rule 10b5-1 trading plan. She retained 116,781 shares following the sale.
• Dropbox shares rose 1.2% to $34.88, near the company’s 52-week high of $36.30. The company recently exceeded quarterly earnings and revenue estimates, reporting $0.75 EPS and $631.5 million in revenue.
• Analyst sentiment remains cautious, with an average rating of “Reduce” and an average price target of $28.25, despite institutional investors owning 94.84% of Dropbox’s outstanding shares.

Dropbox, Inc. (NASDAQ:DBX - Get Free Report) CAO Sarah Elizabeth Schubach sold 1,631 shares of the stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $34.01, for a total transaction of $55,470.31. Following the completion of the sale, the chief accounting officer owned 116,781 shares of the company's stock, valued at approximately $3,971,721.81. The trade was a 1.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Friday, July 31st, Sarah Elizabeth Schubach sold 1,632 shares of Dropbox stock. The stock was sold at an average price of $31.61, for a total transaction of $51,587.52.
• On Tuesday, June 30th, Sarah Elizabeth 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.
• On Monday, June 15th, Sarah Elizabeth Schubach sold 1,306 shares of Dropbox stock. The stock was sold at an average price of $26.90, for a total value of $35,131.40.
• 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 transaction of $36,096.30.

Dropbox Trading Up 1.2%

Shares of NASDAQ:DBX traded up $0.41 during trading on Monday, hitting $34.88. 2,415,574 shares of the company's stock were exchanged, compared to its average volume of 3,972,002. The firm has a market cap of $7.87 billion, a P/E ratio of 19.38, a PEG ratio of 5.08 and a beta of 0.64. The firm has a 50-day moving average price of $30.41 and a two-hundred day moving average price of $27.04. Dropbox, Inc. has a 1-year low of $21.69 and a 1-year high of $36.30.

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

Hedge Funds Weigh In On Dropbox

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. California State Teachers Retirement System lifted its position in Dropbox by 2,565.8% during the second quarter. California State Teachers Retirement System now owns 5,504,631 shares of the company's stock worth $151,212,000 after acquiring an additional 5,298,138 shares during the last quarter. Paralel Advisors LLC grew its position in shares of Dropbox by 1.5% in the second quarter. Paralel Advisors LLC now owns 101,668 shares of the company's stock valued at $2,793,000 after purchasing an additional 1,513 shares during the last quarter. Odyssean LLC increased its stake in shares of Dropbox by 93.3% during the second quarter. Odyssean LLC now owns 109,738 shares of the company's stock worth $3,015,000 after purchasing an additional 52,980 shares during the period. Syon Capital LLC lifted its holdings in Dropbox by 9.6% during the 2nd quarter. Syon Capital LLC now owns 20,522 shares of the company's stock worth $564,000 after purchasing an additional 1,791 shares during the last quarter. Finally, Concurrent Investment Advisors LLC bought a new stake in Dropbox in the 2nd quarter valued at $312,000. 94.84% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Royal Bank Of Canada reiterated an "outperform" rating on shares of Dropbox in a report on Monday, June 1st. 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. Citigroup boosted their target price on Dropbox from $28.00 to $33.00 and gave the company a "neutral" rating in a research note on Friday, August 7th. Finally, Wall Street Zen cut shares of Dropbox from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Reduce" and an average price target of $28.25.

Dropbox Company Profile

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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