Dropbox Inc’s recently made public that its Chief Legal Officer Volkmer Bart unloaded Company’s shares for reported $0.15 million on Apr 15 ’24. In the deal valued at $23.12 per share,6,682 shares were sold. As a result of this transaction, Volkmer Bart now holds 372,332 shares worth roughly $8.74 million.
Then, Regan Timothy sold 3,000 shares, generating $69,340 in total proceeds. Upon selling the shares at $23.11, the Chief Financial Officer now owns 594,995 shares.
Before that, Houston Andrew sold 82,000 shares. Dropbox Inc shares valued at $1,991,550 were divested by the Chief Executive Officer at a price of $24.29 per share. As a result of the transaction, Houston Andrew now holds 0 shares, worth roughly $0.0.
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 Tuesday, Dropbox Inc [NASDAQ:DBX] saw its stock jump 0.69% to $23.47. Over the last five days, the stock has gained 2.31%. Dropbox Inc shares have fallen nearly -20.39% since the year began. Nevertheless, the stocks have risen 8.01% 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 04/18/24. SMA at 50 days reached $24.47, while 200 days put it at $27.32. A total of 2.96 million shares were traded, compared to the trading of 2.77 million shares in the previous session.
Levels Of Support And Resistance For DBX Stock
The 24-hour chart illustrates a support level at 23.35, which if violated will result in even more drops to 23.24. On the upside, there is a resistance level at 23.64. A further resistance level may holdings at 23.81. The Relative Strength Index (RSI) on the 14-day chart is 44.88, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.10, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 25.23%. Stochastics %K at 49.68% indicates the stock is a holding.
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.
