Checking in on Dropbox Inc (DBX) after recent insiders movement

Dropbox Inc’s recent filing unveils that its Chief Financial Officer Regan Timothy unloaded Company’s shares for reported $97503.0 on Jan 30. In the deal valued at $32.50 per share,3,000 shares were sold. As a result of this transaction, Regan Timothy now holds 434,761 shares worth roughly $14.42 million.

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Then, Volkmer Bart sold 7,025 shares, generating $219,923 in total proceeds. Upon selling the shares at $31.31, the Chief Legal Officer now owns 260,598 shares.

Before that, Regan Timothy sold 3,000 shares. Dropbox Inc shares valued at $93,863 were divested by the Chief Financial Officer at a price of $31.29 per share. As a result of the transaction, Regan Timothy now holds 437,761 shares, worth roughly $14.52 million.

UBS initiated its Dropbox Inc [DBX] rating to a Buy in a research note published on December 15, 2023; the price target was $36.

Price Performance Review of DBX

On Friday, Dropbox Inc [NASDAQ:DBX] saw its stock jump 1.16% to $33.16. Over the last five days, the stock has gained 2.13%. Dropbox Inc shares have risen nearly 12.48% since the year began. Nevertheless, the stocks have risen 39.50% over the past one year. While a 52-week high of $33.29 was reached on 02/09/24, a 52-week low of $18.71 was recorded on 01/03/24. SMA at 50 days reached $30.40, while 200 days put it at $27.09. A total of 3.5 million shares were traded, compared to the trading of 2.58 million shares in the previous session.

Levels Of Support And Resistance For DBX Stock

The 24-hour chart illustrates a support level at 32.90, which if violated will result in even more drops to 32.65. On the upside, there is a resistance level at 33.42. A further resistance level may holdings at 33.69. The Relative Strength Index (RSI) on the 14-day chart is 67.30, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.47, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 14.14%. Stochastics %K at 78.01% indicates the stock is a holding.

How much short interest is there in Dropbox Inc?

A steep rise in short interest was recorded in Dropbox Inc stocks on Jan 31, 2024, dropping by -2.58 million shares to a total of 17.14 million shares. Yahoo Finance data shows the prior-month short interest on Dec 29, 2023 was 19.72 million shares. There was a decline of -15.05%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 7.92% of the overall stock float, the days-to-cover ratio (short ratio) fell to 6.05.

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