Dropbox, Inc. (NASDAQ:DBX) Short Interest Up 6.9% in January

Dropbox, Inc. (NASDAQ:DBX) was the target of 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. Based on an average daily trading volume, of 2,840,000 shares, the short-interest ratio is currently 6.8 days. Currently, 8.8% of the shares of the company are sold short.

Insiders Place Their Bets

In other news, CFO Timothy Regan sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $32.17, for a total transaction of $80,425.00. Following the sale, the chief financial officer now owns 398,764 shares of the company’s stock, valued at $12,828,237.88. This trade represents a 0.62 % decrease in their position. The sale 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 Dropbox 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 owns 321,871 shares of the company’s stock, valued at approximately $8,500,613.11. This represents a 0.72 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 902,568 shares of company stock valued at $26,729,180. Insiders own 26.40% of the company’s stock.

Institutional Investors Weigh In On Dropbox

A number of hedge funds have recently modified their holdings of the company. Avion Wealth increased its stake in Dropbox by 4,472.7% during the fourth quarter. Avion Wealth now owns 1,006 shares of the company’s stock worth $30,000 after acquiring an additional 984 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in shares of Dropbox in the third quarter valued at approximately $28,000. V Square Quantitative Management LLC purchased a new stake in shares of Dropbox during the third quarter worth approximately $31,000. Allworth Financial LP raised its holdings in Dropbox by 33.5% in the fourth quarter. Allworth Financial LP now owns 1,456 shares of the company’s stock valued at $45,000 after acquiring an additional 365 shares in the last quarter. Finally, UMB Bank n.a. lifted its stake in Dropbox by 2,479.4% in the third quarter. UMB Bank n.a. now owns 1,754 shares of the company’s stock worth $45,000 after acquiring an additional 1,686 shares during the last quarter. Hedge funds and other institutional investors own 94.84% of the company’s stock.

Dropbox Stock Performance

Shares of NASDAQ:DBX traded up $0.38 during midday trading on Tuesday, hitting $32.33. The company’s stock had a trading volume of 404,601 shares, compared to its average volume of 2,696,476. Dropbox has a 12-month low of $20.68 and a 12-month high of $33.43. The company has a market cap of $10.01 billion, a P/E ratio of 18.69, a price-to-earnings-growth ratio of 1.63 and a beta of 0.61. The business’s 50 day simple moving average is $30.04 and its 200 day simple moving average is $26.71.

Dropbox (NASDAQ:DBX) last issued its earnings results on Thursday, November 7th. The company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.16). Dropbox had a negative return on equity of 135.85% and a net margin of 22.71%. The company had revenue of $638.80 million for the quarter, compared to analyst estimates of $636.93 million. During the same quarter in the prior year, the firm earned $0.35 earnings per share. On average, sell-side analysts predict that Dropbox will post 1.49 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

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.