Dropbox Inc’s recent filing unveils that its Chief Executive Officer Houston Andrew unloaded Company’s shares for reported $1.99 million on Apr 01 ’24. In the deal valued at $24.29 per share,82,000 shares were sold. As a result of this transaction, Houston Andrew now holds 0 shares worth roughly $0.0.
Then, Regan Timothy sold 9,905 shares, generating $240,951 in total proceeds. Upon selling the shares at $24.33, the Chief Financial Officer now owns 597,995 shares.
Before that, Regan Timothy sold 3,000 shares. Dropbox Inc shares valued at $73,074 were divested by the Chief Financial Officer at a price of $24.36 per share. As a result of the transaction, Regan Timothy now holds 400,720 shares, worth roughly $9.32 million.
JP Morgan downgraded its Dropbox Inc [DBX] rating to a Neutral from a an Overweight in a research note published on February 16, 2024; the price target was decreased to $30 from $33. A number of analysts have revised their coverage, including JMP Securities’s analysts, who decreased its forecast for the stock in mid February from “a Mkt outperform” to “a Mkt perform”. Goldman also remained covering DBX and has decreased its forecast on February 16, 2024 with a “Sell” recommendation from previously “Neutral” rating. BofA Securities revised its rating on February 16, 2024. It rated DBX as “an Underperform” which previously was an “a Buy”.
Price Performance Review of DBX
On Friday, Dropbox Inc [NASDAQ:DBX] saw its stock jump 0.17% to $23.27. Over the last five days, the stock has lost -4.24%. Dropbox Inc shares have fallen nearly -21.07% since the year began. Nevertheless, the stocks have risen 8.99% over the past one year. While a 52-week high of $33.43 was reached on 02/09/24, a 52-week low of $19.55 was recorded on 04/05/24. SMA at 50 days reached $26.72, while 200 days put it at $27.52. A total of 2.94 million shares were traded, compared to the trading of 3.12 million shares in the previous session.
Levels Of Support And Resistance For DBX Stock
The 24-hour chart illustrates a support level at 23.13, which if violated will result in even more drops to 22.99. On the upside, there is a resistance level at 23.43. A further resistance level may holdings at 23.60. The Relative Strength Index (RSI) on the 14-day chart is 30.72, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.77, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 92.74%. Stochastics %K at 3.01% indicates the stock is a buying.
How much short interest is there in Dropbox Inc?
A steep rise in short interest was recorded in Dropbox Inc stocks on Mar 15, 2024, growing by 2.74 million shares to a total of 19.68 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 16.94 million shares. There was a rise of 13.92%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 8.83% of the overall stock float, the days-to-cover ratio (short ratio) rose to 3.09.
The most recent change occurred on December 15, 2023 when UBS began covering the stock and recommended ‘”a Buy”‘ rating along with a $36 price target.
