Stock Traders Buy High Volume of Put Options on Dropbox (NASDAQ:DBX)

Dropbox, Inc. (NASDAQ:DBX) was the recipient of some unusual options trading on Friday. Investors acquired 15,088 put options on the stock. This represents an increase of 327% compared to the average volume of 3,532 put options.

Insider Activity

In other news, CEO Andrew Houston sold 137,499 shares of the company’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $30.05, for a total transaction of $4,131,844.95. Following the sale, the chief executive officer now directly owns 8,266,666 shares in the company, valued at $248,413,313.30. This represents a 1.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Timothy Regan sold 2,500 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $30.38, for a total value of $75,950.00. Following the sale, the chief financial officer now owns 413,764 shares in the company, valued at approximately $12,570,150.32. This represents a 0.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 900,238 shares of company stock worth $26,680,195 over the last ninety days. Company insiders own 28.59% of the company’s stock.

Institutional Trading of Dropbox

Hedge funds and other institutional investors have recently bought and sold shares of the company. QRG Capital Management Inc. boosted its stake in Dropbox by 10.6% in the third quarter. QRG Capital Management Inc. now owns 221,716 shares of the company’s stock worth $5,638,000 after buying an additional 21,190 shares in the last quarter. Aigen Investment Management LP purchased a new stake in Dropbox in the third quarter worth approximately $482,000. Retirement Systems of Alabama boosted its stake in Dropbox by 15.2% in the third quarter. Retirement Systems of Alabama now owns 944,033 shares of the company’s stock worth $24,007,000 after buying an additional 124,528 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Dropbox by 8.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,796,238 shares of the company’s stock worth $71,108,000 after buying an additional 228,685 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its stake in Dropbox by 6.1% in the third quarter. Robeco Institutional Asset Management B.V. now owns 2,355,762 shares of the company’s stock worth $59,907,000 after buying an additional 134,503 shares in the last quarter. Hedge funds and other institutional investors own 94.84% of the company’s stock.

Dropbox Trading Down 16.2 %

Shares of NASDAQ DBX opened at $26.71 on Friday. Dropbox has a 12 month low of $20.68 and a 12 month high of $33.33. The firm has a market capitalization of $8.27 billion, a price-to-earnings ratio of 15.44, a PEG ratio of 1.74 and a beta of 0.61. The business has a 50-day moving average of $30.99 and a 200-day moving average of $27.55.

Dropbox (NASDAQ:DBX) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.11). Dropbox had a negative return on equity of 135.85% and a net margin of 22.71%. The business had revenue of $643.60 million for the quarter, compared to analysts’ expectations of $638.61 million. On average, analysts predict that Dropbox will post 1.49 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

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.