The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Dropbox Inc shares valued at $17,430,716 were purchased by ANDREW HOUSTON REVOCABLE TRUST on Nov 14 ’24. At $27.91 per share, ANDREW HOUSTON REVOCABLE TRUST acquired 624,533 shares.
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Also, Regan Timothy sold 2,500 shares, netting a total of over 64,277 in proceeds. Following the sale of shares at $25.71 each, the insider now holds 464,247 shares.
Before that, TIM REGAN had added 2,500 shares to its account. In a trade valued at $62,875, the Officer bought Dropbox Inc shares for $25.15 each.
As published in a research note from JP Morgan on February 16, 2024, Dropbox Inc [DBX] has been rated down from an Overweight to a Neutral and the price target has been revised to $30 from $33. Analysts at JMP Securities downgraded the stock from ‘”a Mkt outperform”‘ to ‘”a Mkt perform”‘ outlook in a report released in mid February. As of February 16, 2024, Goldman has decreased its “Neutral” rating to a “Sell” for DBX. Earlier on February 16, 2024, BofA Securities downgraded its rating. Their new recommendation was “an Underperform” for DBX stock which previously was a “a Buy”.
Analyzing DBX Stock Performance
During the last five days, there has been a drop of approximately -0.75%. Over the course of the year, Dropbox Inc shares have dropped approximately -6.14%. Shares of the company reached a 52-week high of $33.43 on 02/09/24 and a 52-week low of $20.68 on 06/20/24. A 50-day SMA is recorded $25.67, while a 200-day SMA reached $24.35. Nevertheless, trading volume fell to 2.89 million shares from 3.07 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 27.27, which, if violated, would cause prices to drop to 26.86. In the upper region, resistance lies at 28.02. The next price resistance is at 28.36. RSI (Relative Strength Index) is 61.17 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.95, which suggests the price will decrease in the coming days. Percent R is at 18.87%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
