Stock Traders Buy High Volume of Put Options on Dropbox (NASDAQ:DBX)

Dropbox, Inc. (NASDAQ:DBX) was the target of some unusual options trading on Friday. Stock investors acquired 15,088 put options on the stock. This represents an increase of 327% compared to the average volume of 3,532 put options.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Dropbox

In other Dropbox news, CFO Timothy Regan sold 10,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $29.65, for a total transaction of $296,500.00. Following the transaction, the chief financial officer now directly owns 403,764 shares in the company, valued at approximately $11,971,602.60. This trade represents a 2.42 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Andrew Houston sold 137,499 shares of the firm’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $30.05, for a total value of $4,131,844.95. Following the transaction, the chief executive officer now owns 8,266,666 shares in the company, valued at approximately $248,413,313.30. This trade represents a 1.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 900,238 shares of company stock worth $26,680,195. Corporate insiders own 28.59% of the company’s stock.

Institutional Investors Weigh In On Dropbox

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. QRG Capital Management Inc. raised its stake in Dropbox by 10.6% in the 3rd quarter. QRG Capital Management Inc. now owns 221,716 shares of the company’s stock valued at $5,638,000 after acquiring an additional 21,190 shares during the period. Aigen Investment Management LP bought a new stake in Dropbox in the 3rd quarter valued at about $482,000. Retirement Systems of Alabama raised its stake in Dropbox by 15.2% in the 3rd quarter. Retirement Systems of Alabama now owns 944,033 shares of the company’s stock valued at $24,007,000 after acquiring an additional 124,528 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Dropbox by 8.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,796,238 shares of the company’s stock valued at $71,108,000 after acquiring an additional 228,685 shares during the period. Finally, Robeco Institutional Asset Management B.V. raised its stake in Dropbox by 6.1% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 2,355,762 shares of the company’s stock valued at $59,907,000 after acquiring an additional 134,503 shares during the period. 94.84% of the stock is currently owned by institutional investors.

Dropbox Price Performance

Shares of Dropbox stock opened at $26.71 on Friday. Dropbox has a 1 year low of $20.68 and a 1 year high of $33.33. The firm has a market cap of $8.27 billion, a PE ratio of 15.44, a P/E/G ratio of 1.74 and a beta of 0.61. The stock has a fifty day moving average price of $30.99 and a 200-day moving average price of $27.55.

Dropbox (NASDAQ:DBX) last announced its earnings results on Thursday, February 20th. The company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.11). Dropbox had a net margin of 22.71% and a negative return on equity of 135.85%. The business had revenue of $643.60 million for the quarter, compared to analysts’ expectations of $638.61 million. As a group, equities analysts anticipate that Dropbox will post 1.49 EPS for the current fiscal year.

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.