Dropbox, Inc. (NASDAQ:DBX) Short Interest Up 7.5% in March

Dropbox, Inc. (NASDAQ:DBX) was the recipient of a significant growth in short interest in March. As of March 31st, there was short interest totalling 21,150,000 shares, a growth of 7.5% from the March 15th total of 19,680,000 shares. Approximately 8.4% of the shares of the stock are sold short. Based on an average daily trading volume, of 4,130,000 shares, the short-interest ratio is presently 5.1 days.

Insider Buying and Selling

In related news, CFO Timothy Regan sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $32.50, for a total value of $97,500.00. Following the completion of the sale, the chief financial officer now owns 434,761 shares in the company, valued at approximately $14,129,732.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Timothy Regan sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $32.50, for a total value of $97,500.00. Following the completion of the sale, the chief financial officer now owns 434,761 shares in the company, valued at approximately $14,129,732.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Bart Volkmer sold 7,039 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $24.02, for a total transaction of $169,076.78. Following the completion of the sale, the insider now owns 233,988 shares of the company’s stock, valued at approximately $5,620,391.76. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 180,039 shares of company stock worth $4,324,757. Corporate insiders own 26.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of DBX. Creative Planning grew its position in Dropbox by 0.8% in the 4th quarter. Creative Planning now owns 46,046 shares of the company’s stock worth $1,357,000 after purchasing an additional 352 shares during the last quarter. Stratos Wealth Partners LTD. grew its position in Dropbox by 1.8% in the 4th quarter. Stratos Wealth Partners LTD. now owns 23,086 shares of the company’s stock worth $681,000 after purchasing an additional 415 shares during the last quarter. iA Global Asset Management Inc. grew its position in Dropbox by 6.1% in the 3rd quarter. iA Global Asset Management Inc. now owns 7,207 shares of the company’s stock worth $196,000 after purchasing an additional 417 shares during the last quarter. Parallel Advisors LLC lifted its holdings in shares of Dropbox by 7.4% during the 4th quarter. Parallel Advisors LLC now owns 6,642 shares of the company’s stock worth $196,000 after acquiring an additional 459 shares during the period. Finally, Cooper Financial Group lifted its holdings in shares of Dropbox by 3.1% during the 1st quarter. Cooper Financial Group now owns 15,581 shares of the company’s stock worth $379,000 after acquiring an additional 462 shares during the period. 94.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on DBX shares. JMP Securities downgraded shares of Dropbox from an “outperform” rating to a “market perform” rating in a research report on Friday, February 16th. Citigroup cut their target price on shares of Dropbox from $31.00 to $27.00 and set a “neutral” rating for the company in a research report on Friday, March 22nd. The Goldman Sachs Group downgraded shares of Dropbox from a “neutral” rating to a “sell” rating and cut their target price for the stock from $26.00 to $24.00 in a research report on Friday, February 16th. JPMorgan Chase & Co. downgraded shares of Dropbox from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $33.00 to $30.00 in a research report on Friday, February 16th. Finally, Bank of America downgraded shares of Dropbox from a “buy” rating to an “underperform” rating and cut their price target for the company from $34.00 to $28.00 in a report on Friday, February 16th. Three analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Dropbox presently has an average rating of “Hold” and a consensus price target of $29.78.

Dropbox Price Performance

NASDAQ:DBX traded down $0.14 during midday trading on Wednesday, reaching $22.80. The stock had a trading volume of 3,067,249 shares, compared to its average volume of 3,965,358. Dropbox has a 1-year low of $19.55 and a 1-year high of $33.43. The firm’s fifty day simple moving average is $25.33 and its 200-day simple moving average is $27.55. The stock has a market capitalization of $7.84 billion, a P/E ratio of 17.35, a PEG ratio of 2.58 and a beta of 0.71.

Dropbox (NASDAQ:DBX) last posted its earnings results on Thursday, February 15th. The company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). Dropbox had a net margin of 18.13% and a negative return on equity of 120.82%. The firm had revenue of $635.00 million during the quarter, compared to analyst estimates of $630.77 million. On average, equities research analysts anticipate that Dropbox will post 1.14 earnings per share for the current fiscal 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.