Dropbox, Inc. (NASDAQ:DBX) Short Interest Up 6.1% in November

Dropbox, Inc. (NASDAQ:DBX) was the target of a significant increase in short interest in November. As of November 30th, there was short interest totalling 17,660,000 shares, an increase 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 presently 6.6 days. Approximately 8.0% of the company’s stock are sold short.

Insider Activity

In other news, CEO Andrew Houston sold 3,493 shares of Dropbox 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 completion of the sale, the chief executive officer now directly owns 8,266,666 shares of the company’s stock, valued at approximately $206,666,650. The trade was a 0.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Eric Cox sold 2,330 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $26.41, for a total transaction of $61,535.30. Following the transaction, the insider now owns 321,871 shares of the company’s stock, valued at approximately $8,500,613.11. The trade was a 0.72 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 731,381 shares of company stock worth $19,446,607. Corporate insiders own 26.40% of the company’s stock.

Institutional Investors Weigh In On Dropbox

Hedge funds and other institutional investors have recently made changes to their positions in the business. Pacer Advisors Inc. lifted its position in Dropbox by 63.0% in the second quarter. Pacer Advisors Inc. now owns 7,455,407 shares of the company’s stock valued at $167,523,000 after acquiring an additional 2,881,981 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Dropbox by 63.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,536,412 shares of the company’s stock worth $56,994,000 after purchasing an additional 986,942 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of 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 purchasing an additional 859,233 shares during the last quarter. Distillate Capital Partners LLC acquired a new stake in shares of Dropbox in the 2nd quarter valued at about $14,291,000. Finally, Renaissance Technologies LLC grew its stake in Dropbox by 5.2% during the 2nd quarter. Renaissance Technologies LLC now owns 10,314,233 shares of the company’s stock worth $231,761,000 after buying an additional 506,200 shares during the last quarter. Institutional investors and hedge funds own 94.84% of the company’s stock.

Dropbox Stock Performance

NASDAQ DBX traded up $0.35 during trading on Tuesday, reaching $30.80. 3,063,745 shares of the company’s stock were exchanged, compared to its average volume of 3,605,482. The company has a 50 day moving average price of $27.32 and a two-hundred day moving average price of $24.65. The stock has a market cap of $9.54 billion, a P/E ratio of 17.81, a price-to-earnings-growth ratio of 1.68 and a beta of 0.63. Dropbox has a 1 year low of $20.68 and a 1 year 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.