Dropbox Target of Unusually High Options Trading (NASDAQ:DBX)

Dropbox, Inc. (NASDAQ:DBX) saw some unusual options trading on Friday. Traders purchased 15,088 put options on the stock. This represents an increase of approximately 327% compared to the typical daily volume of 3,532 put options.

Dropbox Stock Performance

Shares of NASDAQ DBX opened at $26.71 on Friday. The company has a market cap of $8.27 billion, a PE ratio of 18.94, a P/E/G ratio of 1.70 and a beta of 0.61. The business has a 50-day simple moving average of $30.99 and a two-hundred day simple moving average of $27.59. Dropbox has a fifty-two week low of $20.68 and a fifty-two week high of $33.33.

Dropbox (NASDAQ:DBX) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.11). The business had revenue of $643.60 million during the quarter, compared to analyst estimates of $638.61 million. Dropbox had a negative return on equity of 132.63% and a net margin of 17.75%. On average, sell-side analysts predict that Dropbox will post 1.64 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group raised their price target on Dropbox from $27.00 to $30.00 and gave the stock a “hold” rating in a report on Monday, January 6th.

Insider Buying and Selling at Dropbox

In other Dropbox news, CEO Andrew Houston sold 132,000 shares of Dropbox stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $28.12, for a total value of $3,711,840.00. Following the transaction, the chief executive officer now owns 8,266,666 shares in the company, valued at $232,458,647.92. The trade was a 1.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Timothy Regan sold 2,500 shares of Dropbox stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $32.19, for a total value of $80,475.00. Following the completion of the transaction, the chief financial officer now owns 396,264 shares in the company, valued at $12,755,738.16. This trade represents a 0.63 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 900,238 shares of company stock worth $26,680,195 over the last quarter. Insiders own 28.59% of the company’s stock.

Institutional Investors Weigh In On Dropbox

A number of institutional investors and hedge funds have recently modified their holdings of DBX. Creative Planning lifted its holdings in shares of Dropbox by 97.4% during the third quarter. Creative Planning now owns 66,123 shares of the company’s stock worth $1,682,000 after purchasing an additional 32,622 shares during the period. Blue Trust Inc. lifted its holdings in shares of Dropbox by 383.4% during the third quarter. Blue Trust Inc. now owns 2,934 shares of the company’s stock worth $75,000 after purchasing an additional 2,327 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of Dropbox by 0.4% during the third quarter. Assenagon Asset Management S.A. now owns 89,157 shares of the company’s stock worth $2,267,000 after purchasing an additional 383 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Dropbox during the third quarter worth about $4,987,000. Finally, DekaBank Deutsche Girozentrale lifted its holdings in shares of Dropbox by 3.2% during the third quarter. DekaBank Deutsche Girozentrale now owns 1,780,763 shares of the company’s stock worth $44,670,000 after purchasing an additional 55,672 shares during the period. Institutional investors and hedge funds own 94.84% of the company’s stock.

Dropbox Company Profile

Dropbox, Inc provides a content collaboration platform worldwide. The company's platform allows individuals, families, teams, and organizations to collaborate and sign up for free through its website or app, as well as upgrade to a paid subscription plan for premium features. It serves customers in professional services, technology, media, education, industrial, consumer and retail, and financial services industries.