A company insider recently sold 11,000 shares of Dropbox Inc. [DBX]. Should You Sale?

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Dropbox Inc. shares valued at $253,319 were sold by Volkmer Bart on Sep 12. At $23.03 per share, Volkmer Bart sold 11,000 shares. The insider’s holdings dropped to 293,618 shares worth approximately $6.0 million following the completion of this transaction.

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Also, Regan Timothy sold 5,000 shares, netting a total of over 114,350 in proceeds. Following the sale of shares at $22.87 each, the insider now holds 503,787 shares.

Before that, Young Timothy H. had sold 15,000 shares from its account. In a trade valued at $340,440, the President traded Dropbox Inc. shares for $22.70 each. Upon closing the transaction, the insider’s holdings decreased to 15,000 shares, worth approximately $32.08 million.

As published in their initiating research note from KeyBanc Capital Markets on September 13, 2022, Dropbox Inc. [DBX] has been an Overweight and the price target has been revised to $30. This represents a 31.87% premium over Thursday’s closing price. Analysts at BofA Securities started covering the stock with ‘”a Buy”‘ outlook in a report released in early September. As of September 01, 2022, Citigroup has initiated its “Neutral” rating for DBX. Earlier on December 02, 2021, Berenberg initiated its rating. Their recommendation was “a Hold” for DBX stock.

Analyzing DBX’s Price Performance

On Thursday, Dropbox Inc. [NASDAQ: DBX] plunged -3.08% to $20.44. The stock’s lowest price that day was $20.39, but it reached a high of $21.125 in the same session. During the last five days, there has been a drop of approximately -6.32%. Over the course of the year, Dropbox Inc. shares have dropped approximately -16.71%. Shares of the company reached a 52-week high of $25.81 on 02/10/22 and a 52-week low of $19.07 on 05/25/22. A 50-day SMA is recorded $22.66, while a 200-day SMA reached $22.69. Nevertheless, trading volume fell to 2.6 million shares from 1.85 million shares the previous day.

Support And Resistance Levels for Dropbox Inc. (DBX)

According to the 24-hour chart, there is a support level at 20.18, which, if violated, would cause prices to drop to 19.92. In the upper region, resistance lies at 20.91. The next price resistance is at 21.39. RSI (Relative Strength Index) is 31.56 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.86, which suggests the price will decrease in the coming days. Percent R is at 98.20%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is Dropbox Inc. subject to short interest?

Stocks of Dropbox Inc. saw a sharp steep in short interest on Jul 14, 2022 dropping by -0.44 million shares to 16.17 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 16.61 million shares. A decline of -2.72% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 6.48 of the overall float, the days-to-cover ratio (short ratio) decline to 6.48.

Which companies own the most shares of Dropbox Inc. (DBX)?

According to The Vanguard Group, Inc. filings, the company currently owns 30,460,821 shares, which is about 10.64% of the total DBX shares outstanding. The investor’s shares have plunged by -149,802 from its previous 13-F filing of 30610623.0 shares. With the completion of the buy transaction, Columbia Management Investment Ad’s stake is now worth $346,238,155. BlackRock Fund Advisors reduced a -7.08% interest valued at $267.48 million while Pictet Asset Management SA purchased a 65,785 stake. A total of 1,370,500 shares of Dropbox Inc. were bought by Renaissance Technologies LLC during the quarter, and -2,751,122 were sold by The Baupost Group LLC. In its current portfolio, SSgA Funds Management, Inc. holds 5,954,420 shares valued at $127.37 million.

In terms of Dropbox Inc. share price expectations, FactSet research, analysts set an average price target of $29.43 in the next 12 months, up nearly 42.25% from the previous closing price of $21.09. Analysts anticipate Dropbox Inc. stock to reach $35.00 by 2022, with the lowest price target being $24.00. In spite of this, 13 analysts ranked Dropbox Inc. stock as an Overweight at the end of 2022. On June 11, 2021, RBC Capital Mkts assigned a price target of “an Outperform” to the stock and resumed coverage with a $35.


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