Dropbox Sees Unusually Large Options Volume (NASDAQ:DBX)

Dropbox, Inc. (NASDAQ:DBX) was the recipient of some unusual options trading activity on Wednesday. Investors purchased 4,395 call options on the stock. This represents an increase of 59% compared to the average daily volume of 2,760 call options.

Insider Buying and Selling at Dropbox

In other Dropbox news, CFO Timothy Regan sold 3,000 shares of the company’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $22.76, for a total value of $68,280.00. Following the sale, the chief financial officer now owns 535,122 shares in the company, valued at approximately $12,179,376.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Dropbox news, insider Bart Volkmer sold 7,000 shares of the company’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $22.76, for a total transaction of $159,320.00. Following the sale, the insider now owns 333,934 shares of the company’s stock, valued at approximately $7,600,337.84. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Timothy Regan sold 3,000 shares of the stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $22.76, for a total value of $68,280.00. Following the sale, the chief financial officer now owns 535,122 shares of the company’s stock, valued at approximately $12,179,376.72. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 464,952 shares of company stock worth $11,642,212. 26.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Dropbox

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Pacer Advisors Inc. grew its holdings in Dropbox by 63.0% during the second quarter. Pacer Advisors Inc. now owns 7,455,407 shares of the company’s stock valued at $167,523,000 after purchasing an additional 2,881,981 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Dropbox by 63.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,536,412 shares of the company’s stock valued at $56,994,000 after buying an additional 986,942 shares during the last quarter. AQR Capital Management LLC raised its stake in Dropbox by 39.7% in the 2nd quarter. AQR Capital Management LLC now owns 3,021,962 shares of the company’s stock valued at $67,360,000 after acquiring an additional 859,233 shares during the period. Russell Investments Group Ltd. lifted its holdings in Dropbox by 68.2% during the first quarter. Russell Investments Group Ltd. now owns 1,949,274 shares of the company’s stock valued at $47,397,000 after purchasing an additional 790,191 shares during the last quarter. Finally, Distillate Capital Partners LLC bought a new position in Dropbox during the second quarter worth about $14,291,000. 94.84% of the stock is owned by hedge funds and other institutional investors.

Dropbox Stock Performance

NASDAQ:DBX traded up $0.19 on Wednesday, hitting $25.67. The stock had a trading volume of 215,758 shares, compared to its average volume of 3,803,665. Dropbox has a 1 year low of $20.68 and a 1 year high of $33.43. The firm’s fifty day simple moving average is $23.97 and its two-hundred day simple moving average is $23.31. The stock has a market cap of $8.48 billion, a P/E ratio of 16.87, a price-to-earnings-growth ratio of 1.55 and a beta of 0.61.

Dropbox (NASDAQ:DBX) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.08. Dropbox had a negative return on equity of 161.78% and a net margin of 23.06%. The company had revenue of $634.50 million during the quarter, compared to the consensus estimate of $630.10 million. During the same period last year, the business posted $0.28 earnings per share. Dropbox’s revenue was up 1.9% on a year-over-year basis. Equities research analysts predict that Dropbox will post 1.31 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. UBS Group decreased their target price on Dropbox from $30.00 to $28.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Citigroup lowered their price objective on Dropbox from $26.00 to $25.00 and set a “neutral” rating for the company in a research note on Wednesday, June 26th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Dropbox presently has a consensus rating of “Hold” and a consensus price target of $28.67.

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.