Dropbox Target of Unusually High Options Trading (NASDAQ:DBX)

Dropbox, Inc. (NASDAQ:DBX) was the recipient of some unusual options trading activity on Friday. Investors acquired 15,088 put options on the stock. This represents an increase of approximately 327% compared to the average volume of 3,532 put options.

Dropbox Trading Down 14.0 %

Shares of Dropbox stock traded down $4.47 on Friday, reaching $27.41. The stock had a trading volume of 2,418,769 shares, compared to its average volume of 2,880,416. The business’s 50 day moving average is $31.06 and its two-hundred day moving average is $27.51. Dropbox has a 1 year low of $20.68 and a 1 year high of $33.33. The company has a market cap of $8.49 billion, a P/E ratio of 16.17, a price-to-earnings-growth ratio of 1.74 and a beta of 0.61.

Dropbox (NASDAQ:DBX) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.11). The firm had revenue of $643.60 million during the quarter, compared to the consensus estimate of $638.61 million. Dropbox had a net margin of 22.71% and a negative return on equity of 135.85%. On average, equities analysts anticipate that Dropbox will post 1.49 EPS for the current fiscal year.

Insider Activity

In other Dropbox news, CFO Timothy Regan sold 2,500 shares of the stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $30.38, for a total value of $75,950.00. Following the completion of the sale, the chief financial officer now owns 413,764 shares in the company, valued at approximately $12,570,150.32. This trade represents a 0.60 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Andrew Houston sold 137,499 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $30.05, for a total value of $4,131,844.95. 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 $248,413,313.30. This represents a 1.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 900,238 shares of company stock worth $26,680,195. Company insiders own 28.59% of the company’s stock.

Institutional Investors Weigh In On Dropbox

Several large investors have recently added to or reduced their stakes in DBX. EverSource Wealth Advisors LLC raised its holdings in shares of Dropbox by 96.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 865 shares of the company’s stock valued at $26,000 after acquiring an additional 424 shares in the last quarter. Avion Wealth increased its position in shares of Dropbox by 4,472.7% in the fourth quarter. Avion Wealth now owns 1,006 shares of the company’s stock worth $30,000 after purchasing an additional 984 shares during the last quarter. True Wealth Design LLC raised its stake in Dropbox by 191.0% in the fourth quarter. True Wealth Design LLC now owns 1,036 shares of the company’s stock valued at $31,000 after purchasing an additional 680 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in Dropbox in the 3rd quarter worth approximately $28,000. Finally, SBI Securities Co. Ltd. purchased a new position in Dropbox in the 4th quarter worth approximately $40,000. Institutional investors own 94.84% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group boosted their target price on shares of Dropbox from $27.00 to $30.00 and gave the company a “hold” rating in a report on Monday, January 6th.

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.