Short Interest in Dropbox, Inc. (NASDAQ:DBX) Increases By 6.1%

Dropbox, Inc. (NASDAQ:DBX) was the recipient of a significant growth in short interest in the month of 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 trading volume of 2,680,000 shares, the short-interest ratio is currently 6.6 days. Approximately 8.0% of the shares of the company are short sold.

Dropbox Stock Performance

Shares of DBX stock traded up $0.24 on Tuesday, hitting $30.69. 1,921,719 shares of the company’s stock traded hands, compared to its average volume of 3,600,408. The company’s fifty day simple moving average is $27.32 and its 200 day simple moving average is $24.65. Dropbox has a one year low of $20.68 and a one year high of $33.43. The stock has a market capitalization of $9.51 billion, a price-to-earnings ratio of 17.81, a P/E/G ratio of 1.68 and a beta of 0.63.

Insider Transactions at Dropbox

In other news, insider Eric Cox sold 2,330 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $26.41, for a total value of $61,535.30. Following the completion of the transaction, the insider now directly owns 321,871 shares in the company, valued at approximately $8,500,613.11. This represents a 0.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Andrew Houston sold 137,499 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $30.05, for a total value of $4,131,844.95. Following the completion of the sale, the chief executive officer now owns 8,266,666 shares of the company’s stock, valued at $248,413,313.30. The trade was a 1.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 731,381 shares of company stock valued at $19,446,607 over the last three months. Company insiders own 26.40% of the company’s stock.

Institutional Investors Weigh In On Dropbox

A number of hedge funds and other institutional investors have recently modified their holdings of DBX. Renaissance Technologies LLC increased its stake in Dropbox by 5.2% in the 2nd quarter. Renaissance Technologies LLC now owns 10,314,233 shares of the company’s stock worth $231,761,000 after purchasing an additional 506,200 shares during the period. Pacer Advisors Inc. boosted its position in Dropbox by 4.5% during the 3rd quarter. Pacer Advisors Inc. now owns 7,788,652 shares of the company’s stock valued at $198,065,000 after buying an additional 333,245 shares during the period. Jacobs Levy Equity Management Inc. grew its holdings in Dropbox by 6.2% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 6,239,493 shares of the company’s stock worth $158,670,000 after acquiring an additional 365,893 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Dropbox by 0.6% in the third quarter. Geode Capital Management LLC now owns 4,366,271 shares of the company’s stock valued at $111,368,000 after acquiring an additional 25,893 shares during the period. Finally, LSV Asset Management raised its stake in shares of Dropbox by 9.2% during the second quarter. LSV Asset Management now owns 3,742,292 shares of the company’s stock valued at $84,089,000 after acquiring an additional 314,862 shares during the last quarter. Institutional investors 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.