Dropbox, Inc. (NASDAQ:DBX) Sees Significant Growth in Short Interest

Dropbox, Inc. (NASDAQ:DBX - Get Free Report) saw a significant increase in short interest in 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 trading volume of 2,840,000 shares, the days-to-cover ratio is currently 6.8 days. Approximately 8.8% of the company's shares are sold short.

Dropbox Trading Down 0.6 %

Shares of DBX traded down $0.20 during trading hours on Friday, reaching $32.01. The stock had a trading volume of 1,536,098 shares, compared to its average volume of 2,677,885. The company has a market capitalization of $9.91 billion, a price-to-earnings ratio of 18.51, a P/E/G ratio of 1.63 and a beta of 0.61. The firm has a 50-day simple moving average of $30.37 and a 200 day simple moving average of $26.91. Dropbox has a 12 month low of $20.68 and a 12 month high of $33.43.

Dropbox (NASDAQ:DBX - Get Free Report) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.36 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.52 by ($0.16). Dropbox had a net margin of 22.71% and a negative return on equity of 135.85%. The business 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 business earned $0.35 earnings per share. On average, equities analysts forecast that Dropbox will post 1.49 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group increased their target price on shares of Dropbox from $27.00 to $30.00 and gave the stock a "hold" rating in a research note on Monday, January 6th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $27.50.

Insider Buying and Selling

In other Dropbox news, CFO Timothy Regan sold 2,500 shares of the business's stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 398,764 shares of the company's stock, valued at approximately $12,828,237.88. The trade was a 0.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Eric Cox sold 2,330 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $26.41, for a total value of $61,535.30. Following the transaction, the insider now owns 321,871 shares in the company, valued at $8,500,613.11. The trade was a 0.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 902,568 shares of company stock valued at $26,729,180 over the last ninety days. 26.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Dropbox

A number of hedge funds have recently added to or reduced their stakes in DBX. Capital Performance Advisors LLP bought a new position in shares of Dropbox in the third quarter valued at approximately $28,000. Avion Wealth lifted its stake in Dropbox by 4,472.7% during the 4th quarter. Avion Wealth now owns 1,006 shares of the company's stock valued at $30,000 after acquiring an additional 984 shares in the last quarter. V Square Quantitative Management LLC purchased a new position in Dropbox during the 3rd quarter worth $31,000. SBI Securities Co. Ltd. bought a new stake in shares of Dropbox in the 4th quarter worth $40,000. Finally, Quarry LP raised its holdings in shares of Dropbox by 81.1% in the second quarter. Quarry LP now owns 1,965 shares of the company's stock valued at $44,000 after purchasing an additional 880 shares during the last quarter. Institutional investors and hedge funds own 94.84% of the company's stock.

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.