Dropbox Inc (NASDAQ:DBX) Short Interest Up 7.6% in January

Dropbox Inc (NASDAQ:DBX) was the target of a significant growth in short interest in the month of January. As of January 31st, there was short interest totalling 15,960,000 shares, a growth of 7.6% from the January 15th total of 14,830,000 shares. Based on an average trading volume of 3,740,000 shares, the days-to-cover ratio is presently 4.3 days. Approximately 7.3% of the shares of the company are short sold.

In related news, CTO Quentin Clark sold 8,333 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $19.01, for a total transaction of $158,410.33. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Timothy Regan sold 2,000 shares of the business’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $17.97, for a total transaction of $35,940.00. The disclosure for this sale can be found here. Insiders have sold 13,333 shares of company stock worth $250,960 in the last ninety days. 31.20% of the stock is currently owned by insiders.

A number of institutional investors have recently made changes to their positions in the business. Nomura Holdings Inc. acquired a new position in Dropbox during the 3rd quarter worth about $449,000. Exane Derivatives raised its holdings in Dropbox by 104.5% during the 4th quarter. Exane Derivatives now owns 11,250 shares of the company’s stock worth $206,000 after purchasing an additional 5,750 shares during the last quarter. Prentiss Smith & Co. Inc. raised its holdings in Dropbox by 18.1% during the 3rd quarter. Prentiss Smith & Co. Inc. now owns 24,918 shares of the company’s stock worth $503,000 after purchasing an additional 3,811 shares during the last quarter. Cullinan Associates Inc. bought a new stake in Dropbox during the 4th quarter worth about $379,000. Finally, SG Americas Securities LLC raised its holdings in Dropbox by 411.4% during the 4th quarter. SG Americas Securities LLC now owns 89,348 shares of the company’s stock worth $1,600,000 after purchasing an additional 71,878 shares during the last quarter. 42.56% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities analysts recently issued reports on the stock. William Blair reaffirmed a “buy” rating on shares of Dropbox in a research report on Tuesday, November 26th. BidaskClub raised shares of Dropbox from a “strong sell” rating to a “sell” rating in a report on Tuesday. Nomura boosted their price target on shares of Dropbox from $25.00 to $27.00 and gave the company a “buy” rating in a report on Friday, November 8th. Instinet raised shares of Dropbox from a “neutral” rating to a “buy” rating and boosted their price target for the company from $18.92 to $25.00 in a report on Tuesday, October 22nd. Finally, Zacks Investment Research lowered shares of Dropbox from a “buy” rating to a “hold” rating in a report on Thursday, November 14th. Two analysts have rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company. Dropbox currently has an average rating of “Buy” and an average price target of $27.20.

Dropbox stock traded down $0.08 on Friday, hitting $18.53. The company’s stock had a trading volume of 4,036,000 shares, compared to its average volume of 4,132,571. The firm has a market cap of $7.70 billion, a P/E ratio of -142.54 and a beta of 1.48. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.99. The company has a fifty day moving average price of $17.83 and a 200-day moving average price of $18.87. Dropbox has a one year low of $16.08 and a one year high of $26.49.

About Dropbox

Dropbox, Inc provides a collaboration platform worldwide. Its platform allows individuals, 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. The company has approximately 500 million registered users across 180 countries.

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