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

Dropbox, Inc. (NASDAQ:DBX) saw a large increase in short interest in November. As of November 30th, there was short interest totalling 17,660,000 shares, an increase of 6.1% from the November 15th total of 16,650,000 shares. Based on an average trading volume of 2,680,000 shares, the days-to-cover ratio is presently 6.6 days. Approximately 8.0% of the shares of the stock are short sold.

Dropbox Stock Up 1.1 %

Shares of DBX traded up $0.35 during midday trading on Tuesday, reaching $30.80. The company had a trading volume of 3,063,745 shares, compared to its average volume of 3,605,482. The firm has a 50 day simple moving average of $27.32 and a 200-day simple moving average of $24.65. The stock has a market cap of $9.54 billion, a PE ratio of 17.81, a price-to-earnings-growth ratio of 1.68 and a beta of 0.63. Dropbox has a 1-year low of $20.68 and a 1-year high of $33.43.

Insider Buying and Selling

In other Dropbox news, CEO Andrew Houston sold 3,493 shares of the stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $25.00, for a total transaction of $87,325.00. Following the completion of the transaction, the chief executive officer now owns 8,266,666 shares of the company’s stock, valued at $206,666,650. This represents a 0.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Timothy Regan sold 3,177 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $25.00, for a total value of $79,425.00. Following the sale, the chief financial officer now owns 481,747 shares of the company’s stock, valued at $12,043,675. The trade was a 0.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 731,381 shares of company stock valued at $19,446,607. 26.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Dropbox

Several large investors have recently modified their holdings of the business. Capital Performance Advisors LLP purchased a new position in shares of Dropbox during the 3rd quarter worth approximately $28,000. Fifth Third Bancorp boosted its position in shares of Dropbox by 548.8% during the second quarter. Fifth Third Bancorp now owns 1,382 shares of the company’s stock worth $31,000 after buying an additional 1,169 shares during the period. V Square Quantitative Management LLC acquired a new stake in shares of Dropbox in the third quarter valued at $31,000. Quarry LP raised its holdings in shares of Dropbox by 81.1% in the 2nd 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. raised its holdings in shares of Dropbox by 2,479.4% in the 3rd 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.

Dropbox Company Profile

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.