Sarah Elizabeth Schubach Sells 1,168 Shares of Dropbox (NASDAQ:DBX) Stock

Dropbox, Inc. (NASDAQ:DBX) CAO Sarah Elizabeth Schubach sold 1,168 shares of Dropbox stock in a transaction on Monday, December 29th. The stock was sold at an average price of $27.88, for a total value of $32,563.84. Following the sale, the chief accounting officer directly owned 93,870 shares of the company’s stock, valued at approximately $2,617,095.60. This trade represents a 1.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Monday, December 1st, Sarah Elizabeth Schubach sold 1,168 shares of Dropbox stock. The stock was sold at an average price of $29.60, for a total value of $34,572.80.
• On Thursday, November 20th, Sarah Elizabeth Schubach sold 1,168 shares of Dropbox stock. The stock was sold at an average price of $29.43, for a total value of $34,374.24.
• On Thursday, October 30th, Sarah Elizabeth Schubach sold 1,066 shares of Dropbox stock. The shares were sold at an average price of $28.40, for a total transaction of $30,274.40.
• On Wednesday, October 15th, Sarah Elizabeth Schubach sold 1,066 shares of Dropbox stock. The stock was sold at an average price of $28.62, for a total transaction of $30,508.92.

Dropbox Stock Performance

Shares of NASDAQ:DBX opened at $27.80 on Friday. The company has a 50 day moving average price of $29.08 and a two-hundred day moving average price of $28.82. The company has a market capitalization of $7.19 billion, a PE ratio of 15.71, a PEG ratio of 2.38 and a beta of 0.62. Dropbox, Inc. has a 52 week low of $24.42 and a 52 week high of $33.33.

Dropbox (NASDAQ:DBX) last announced its quarterly earnings results on Thursday, November 6th. The company reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.10. Dropbox had a net margin of 19.87% and a negative return on equity of 49.51%. The company had revenue of $634.40 million for the quarter, compared to analysts’ expectations of $623.59 million. During the same period last year, the firm posted $0.60 earnings per share. The business’s quarterly revenue was down .7% compared to the same quarter last year. On average, sell-side analysts forecast that Dropbox, Inc. will post 1.64 earnings per share for the current year.

Analyst Upgrades and Downgrades

DBX has been the topic of several recent analyst reports. Wall Street Zen upgraded Dropbox from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. UBS Group lowered shares of Dropbox from a “neutral” rating to a “sell” rating and cut their price target for the company from $29.00 to $27.00 in a research note on Thursday, September 18th. Royal Bank Of Canada upped their price target on shares of Dropbox from $35.00 to $38.00 and gave the company an “outperform” rating in a report on Friday, November 7th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Dropbox in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $31.75.

Hedge Funds Weigh In On Dropbox

Several hedge funds have recently made changes to their positions in DBX. SGL Investment Advisors Inc. lifted its position in shares of Dropbox by 2.4% in the second quarter. SGL Investment Advisors Inc. now owns 16,143 shares of the company’s stock worth $442,000 after purchasing an additional 375 shares in the last quarter. Kera Capital Partners Inc. lifted its position in Dropbox by 3.7% during the 3rd quarter. Kera Capital Partners Inc. now owns 12,945 shares of the company’s stock worth $391,000 after buying an additional 460 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in Dropbox by 5.7% during the 2nd quarter. PNC Financial Services Group Inc. now owns 8,607 shares of the company’s stock worth $246,000 after buying an additional 461 shares in the last quarter. Merit Financial Group LLC boosted its stake in shares of Dropbox by 4.4% during the 3rd quarter. Merit Financial Group LLC now owns 11,385 shares of the company’s stock worth $344,000 after buying an additional 480 shares during the last quarter. Finally, Rossby Financial LCC grew its holdings in shares of Dropbox by 128.5% in the 3rd quarter. Rossby Financial LCC now owns 937 shares of the company’s stock valued at $28,000 after acquiring an additional 527 shares in the last quarter. 94.84% of the stock is owned by institutional investors.

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.