Short Interest in Dropbox, Inc. (NASDAQ:DBX) Rises By 6.9%

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

Insiders Place Their Bets

In other news, CFO Timothy Regan sold 2,500 shares of the business’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $32.17, for a total value of $80,425.00. Following the completion of the transaction, the chief financial officer now owns 398,764 shares in the company, valued at $12,828,237.88. The trade was a 0.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Eric Cox sold 2,330 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $26.41, for a total transaction of $61,535.30. Following the sale, the insider now directly owns 321,871 shares in the company, valued at approximately $8,500,613.11. The trade was a 0.72 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 902,568 shares of company stock valued at $26,729,180. 26.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Dropbox

Several hedge funds have recently bought and sold shares of the business. Quarry LP lifted its holdings in Dropbox by 81.1% during 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 in the last quarter. GAMMA Investing LLC raised its stake in shares of Dropbox by 133.3% during the third quarter. GAMMA Investing LLC now owns 2,888 shares of the company’s stock valued at $73,000 after acquiring an additional 1,650 shares in the last quarter. CWM LLC boosted its holdings in shares of Dropbox by 39.3% in the third quarter. CWM LLC now owns 68,576 shares of the company’s stock valued at $1,744,000 after purchasing an additional 19,353 shares during the period. 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 purchasing an additional 1,686 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its stake in Dropbox by 24.7% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 156,500 shares of the company’s stock worth $3,980,000 after purchasing an additional 31,000 shares in the last quarter. Institutional investors own 94.84% of the company’s stock.

Analyst Ratings Changes

Separately, Jefferies Financial Group upped their price objective on Dropbox from $27.00 to $30.00 and gave the stock a “hold” rating in a report on Monday, January 6th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $27.50.

Dropbox Stock Performance

DBX stock traded up $0.38 during mid-day trading on Tuesday, reaching $32.33. 404,601 shares of the stock traded hands, compared to its average volume of 2,696,476. The business has a 50-day moving average price of $30.04 and a two-hundred day moving average price of $26.71. The stock has a market capitalization of $10.01 billion, a PE ratio of 18.69, a PEG ratio of 1.63 and a beta of 0.61. Dropbox has a one year low of $20.68 and a one year high of $33.43.

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

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.