Dropbox, Inc. (NASDAQ:DBX) Short Interest Down 16.9% in March

Dropbox, Inc. (NASDAQ:DBX - Get Free Report) was the target of a significant decrease in short interest during the month of March. As of March 31st, there was short interest totalling 22,640,000 shares, a decrease of 16.9% from the March 15th total of 27,240,000 shares. Based on an average daily trading volume, of 4,160,000 shares, the days-to-cover ratio is currently 5.4 days. Approximately 10.7% of the company's stock are sold short.

Dropbox Trading Up 1.5 %

Shares of DBX stock traded up $0.41 during trading hours on Thursday, hitting $27.90. The company's stock had a trading volume of 635,147 shares, compared to its average volume of 3,615,379. The stock has a market cap of $8.42 billion, a PE ratio of 19.76, a price-to-earnings-growth ratio of 1.70 and a beta of 0.75. Dropbox has a 12-month low of $20.68 and a 12-month high of $33.33. The company has a 50 day moving average of $26.97 and a 200 day moving average of $28.29.

Dropbox (NASDAQ:DBX - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.11). The business had revenue of $643.60 million during the quarter, compared to analysts' expectations of $638.61 million. Dropbox had a net margin of 17.75% and a negative return on equity of 132.63%. As a group, analysts anticipate that Dropbox will post 1.64 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group boosted their price target on Dropbox from $27.00 to $30.00 and gave the company a "hold" rating in a research note on Monday, January 6th.

Insider Buying and Selling at Dropbox

In other Dropbox news, insider Eric Cox sold 3,765 shares of the business's stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $26.30, for a total transaction of $99,019.50. Following the sale, the insider now owns 309,550 shares of the company's stock, valued at approximately $8,141,165. The trade was a 1.20 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Timothy Regan sold 2,500 shares of Dropbox stock in a transaction on Friday, February 7th. The stock was sold at an average price of $32.19, for a total transaction of $80,475.00. Following the sale, the chief financial officer now owns 396,264 shares of the company's stock, valued at $12,755,738.16. The trade was a 0.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,765 shares of company stock valued at $393,695. 28.59% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Sanctuary Advisors LLC purchased a new position in shares of Dropbox during the 3rd quarter valued at approximately $268,000. American Trust purchased a new position in Dropbox in the third quarter valued at $271,000. Retirement Systems of Alabama increased its holdings in Dropbox by 15.2% in the third quarter. Retirement Systems of Alabama now owns 944,033 shares of the company's stock valued at $24,007,000 after buying an additional 124,528 shares in the last quarter. DGS Capital Management LLC raised its position in shares of Dropbox by 22.5% in the third quarter. DGS Capital Management LLC now owns 13,767 shares of the company's stock worth $350,000 after acquiring an additional 2,532 shares during the period. Finally, GAMMA Investing LLC boosted its stake in shares of Dropbox by 122.9% during the 4th quarter. GAMMA Investing LLC now owns 6,436 shares of the company's stock worth $193,000 after acquiring an additional 3,548 shares in the last quarter. 94.84% of the stock is currently owned by hedge funds and other institutional investors.

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.