Dropbox Inc’s recently made public that its Chief Executive Officer Houston Andrew unloaded Company’s shares for reported $8.83 million on Oct 01 ’24. In the deal valued at $25.12 per share,351,306 shares were sold. As a result of this transaction, Houston Andrew now holds 0 shares worth roughly $0.0.
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Then, Houston Andrew sold 97,362 shares, generating $2,459,160 in total proceeds. Upon selling the shares at $25.26, the Chief Executive Officer now owns 0 shares.
Before that, ANDREW HOUSTON REVOCABLE TRUST bought 97,362 shares. Dropbox Inc shares valued at $2,438,918 were divested by the Director at a price of $25.05 per share.
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 fall -0.63% to $25.37. Over the last five days, the stock has gained 0.24%. Dropbox Inc shares have fallen nearly -13.94% since the year began. Nevertheless, the stocks have fallen -6.18% over the past one year. While a 52-week high of $33.43 was reached on 02/09/24, a 52-week low of $20.68 was recorded on 06/20/24. SMA at 50 days reached $23.91, while 200 days put it at $24.98.
Levels Of Support And Resistance For DBX Stock
The 24-hour chart illustrates a support level at 25.13, which if violated will result in even more drops to 24.90. On the upside, there is a resistance level at 25.75. A further resistance level may holdings at 26.14. The Relative Strength Index (RSI) on the 14-day chart is 61.77, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.37, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 32.02%. Stochastics %K at 77.00% 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 2024-09-13, growing by 0.48 million shares to a total of 15.33 million shares. Yahoo Finance data shows the prior-month short interest on 2024-08-15 was 14.85 million shares. There was a rise of 3.11%, which implies that there is a positive sentiment for the stock.
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.
