In a filing, Dropbox Inc revealed its Chief Executive Officer Houston Andrew unloaded Company’s shares for reported $3.71 million on Dec 02 ’24. In the deal valued at $28.12 per share,132,000 shares were sold. As a result of this transaction, Houston Andrew now holds 0 shares worth roughly $0.0.
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Then, Regan Timothy sold 2,500 shares, generating $69,679 in total proceeds. Upon selling the shares at $27.87, the Chief Financial Officer now owns 433,764 shares.
Before that, ANDREW HOUSTON REVOCABLE TRUST bought 132,000 shares. Dropbox Inc shares valued at $3,651,120 were divested by the Director at a price of $27.66 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 jump 1.15% to $29.06. Over the last five days, the stock has gained 5.06%. Dropbox Inc shares have fallen nearly -1.42% since the year began. Nevertheless, the stocks have risen 5.33% 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 $26.74, while 200 days put it at $24.17.
Levels Of Support And Resistance For DBX Stock
The 24-hour chart illustrates a support level at 28.83, which if violated will result in even more drops to 28.60. On the upside, there is a resistance level at 29.21. A further resistance level may holdings at 29.36. The Relative Strength Index (RSI) on the 14-day chart is 65.31, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.85, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 2.29%. Stochastics %K at 90.55% indicates the stock is a selling.
How much short interest is there in Dropbox Inc?
A steep rise in short interest was recorded in Dropbox Inc stocks on 2024-11-15, growing by 1.57 million shares to a total of 16.65 million shares. Yahoo Finance data shows the prior-month short interest on 2024-10-15 was 15.09 million shares. There was a rise of 9.42%, 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.
