Dropbox, Inc. (NASDAQ:DBX) Short Interest Update

Dropbox, Inc. (NASDAQ:DBX) was the target of a large growth in short interest in November. As of November 30th, there was short interest totalling 17,660,000 shares, a growth of 6.1% from the November 15th total of 16,650,000 shares. Based on an average daily volume of 2,680,000 shares, the days-to-cover ratio is currently 6.6 days. Currently, 8.0% of the company’s shares are sold short.

Insiders Place Their Bets

In other news, CEO Andrew Houston sold 3,493 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $25.00, for a total transaction of $87,325.00. Following the sale, the chief executive officer now owns 8,266,666 shares in the company, valued at approximately $206,666,650. The trade was a 0.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Timothy Regan sold 3,177 shares of the stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $25.00, for a total transaction of $79,425.00. Following the completion of the transaction, the chief financial officer now owns 481,747 shares of the company’s stock, valued at approximately $12,043,675. The trade was a 0.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 731,381 shares of company stock worth $19,446,607. 26.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Dropbox

Hedge funds have recently added to or reduced their stakes in the company. Capital Performance Advisors LLP purchased a new stake in shares of Dropbox during the 3rd quarter valued at about $28,000. Fifth Third Bancorp lifted its position in Dropbox by 548.8% during the second quarter. Fifth Third Bancorp now owns 1,382 shares of the company’s stock valued at $31,000 after purchasing an additional 1,169 shares during the period. V Square Quantitative Management LLC purchased a new stake in Dropbox in the third quarter worth approximately $31,000. Quarry LP grew its position in Dropbox by 81.1% in the 2nd quarter. Quarry LP now owns 1,965 shares of the company’s stock worth $44,000 after purchasing an additional 880 shares during the period. Finally, UMB Bank n.a. raised its stake in Dropbox by 2,479.4% during the 3rd quarter. UMB Bank n.a. now owns 1,754 shares of the company’s stock valued at $45,000 after buying an additional 1,686 shares during the last quarter. 94.84% of the stock is currently owned by hedge funds and other institutional investors.

Dropbox Stock Performance

Shares of Dropbox stock traded up $0.35 during midday trading on Tuesday, hitting $30.80. The company had a trading volume of 3,063,639 shares, compared to its average volume of 3,605,481. The company has a 50 day moving average of $27.32 and a 200 day moving average of $24.65. The stock has a market capitalization of $9.54 billion, a P/E ratio of 17.81, a P/E/G ratio of 1.68 and a beta of 0.63. Dropbox has a 52-week low of $20.68 and a 52-week high of $33.43.

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.