Dropbox, Inc. (NASDAQ:DBX) Short Interest Update

Dropbox, Inc. (NASDAQ:DBX) saw a significant increase in short interest during the month of January. As of January 15th, there was short interest totalling 19,310,000 shares, an increase of 6.9% from the December 31st total of 18,070,000 shares. Currently, 8.8% of the shares of the stock are sold short. Based on an average trading volume of 2,840,000 shares, the short-interest ratio is currently 6.8 days.

Insiders Place Their Bets

In other Dropbox news, insider Eric Cox sold 2,330 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $26.41, for a total value of $61,535.30. Following the completion of the transaction, the insider now directly owns 321,871 shares of the company’s stock, valued at approximately $8,500,613.11. The trade was a 0.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Andrew Houston sold 500,323 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $29.65, for a total transaction of $14,834,576.95. Following the completion of the transaction, the chief executive officer now directly owns 8,266,666 shares of the company’s stock, valued at approximately $245,106,646.90. This represents a 5.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 902,568 shares of company stock valued at $26,729,180. Insiders own 26.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Capital Performance Advisors LLP acquired a new position in shares of Dropbox in the third quarter valued at approximately $28,000. Avion Wealth boosted its holdings in shares of Dropbox by 4,472.7% in the fourth quarter. Avion Wealth now owns 1,006 shares of the company’s stock valued at $30,000 after buying an additional 984 shares during the period. V Square Quantitative Management LLC acquired a new position in shares of Dropbox in the third quarter valued at approximately $31,000. Quarry LP boosted its holdings in shares of Dropbox by 81.1% in the second quarter. Quarry LP now owns 1,965 shares of the company’s stock valued at $44,000 after buying an additional 880 shares during the period. Finally, UMB Bank n.a. boosted its holdings in shares of Dropbox by 2,479.4% in the third quarter. UMB Bank n.a. now owns 1,754 shares of the company’s stock valued at $45,000 after buying an additional 1,686 shares during the period. Institutional investors and hedge funds own 94.84% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group boosted their price target on shares of Dropbox from $27.00 to $30.00 and gave the stock a “hold” rating in a research note on Monday, January 6th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $27.50.

Dropbox Price Performance

DBX opened at $31.95 on Tuesday. The company has a market cap of $9.90 billion, a price-to-earnings ratio of 18.47, a price-to-earnings-growth ratio of 1.63 and a beta of 0.61. The firm has a 50 day simple moving average of $30.04 and a 200 day simple moving average of $26.71. Dropbox has a fifty-two week low of $20.68 and a fifty-two week high of $33.43.

Dropbox (NASDAQ:DBX) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.16). The firm had revenue of $638.80 million for the quarter, compared to analyst estimates of $636.93 million. Dropbox had a net margin of 22.71% and a negative return on equity of 135.85%. During the same quarter in the prior year, the firm posted $0.35 EPS. As a group, analysts expect that Dropbox will post 1.49 EPS for the current year.

About Dropbox

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.