On April 5, 2023 at 11:23:03 ET an unusually large
$158.90K block of Put contracts in Dropbox
(DBX) was bought,
with a strike price of $20.00 / share, expiring in 44 days (on May 19, 2023).
Fintel tracks all large options trades, and the premium spent on this trade was 3.00 sigmas above the mean, placing it in the 100.00 percentile of all recent large trades made in DBX options.
This trade was first picked up on Fintel’s real time Unusual Option Trades
tool, where unusual option trades are highlighted.
Analyst Price Forecast Suggests 27.70% Upside
As of March 30, 2023,
the average one-year price target for Dropbox is $27.26.
The forecasts range from a low of $20.20 to a high of $35.70.
The average price target represents an increase of 27.70% from its latest reported closing price of $21.35.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Dropbox
is $2,481MM, an increase of 6.71%.
The projected annual non-GAAP EPS
is $1.76.
What is the Fund Sentiment?
There are 915 funds or institutions reporting positions in Dropbox.
This is an increase
of
40
owner(s) or 4.57% in the last quarter.
Average portfolio weight of all funds dedicated to DBX is 0.25%,
a decrease
of 2.19%.
Total shares owned by institutions increased
in the last three months by 0.84% to 263,610K shares.
The put/call ratio of DBX is 0.98, indicating a
bullish
outlook.
What are Large Shareholders Doing?
Ameriprise Financial
holds 16,813K shares
representing 4.70% ownership of the company.
In it’s prior filing, the firm reported owning 16,255K shares, representing
an increase
of 3.32%.
The firm
increased
its portfolio allocation in DBX by 5.11% over the last quarter.
SLMCX – Columbia Seligman Communications and Information Fund
holds 9,085K shares
representing 2.54% ownership of the company.
No change in the last quarter.
Renaissance Technologies
holds 8,070K shares
representing 2.26% ownership of the company.
In it’s prior filing, the firm reported owning 8,483K shares, representing
a decrease
of 5.12%.
The firm
decreased
its portfolio allocation in DBX by 0.63% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares
holds 8,066K shares
representing 2.25% ownership of the company.
In it’s prior filing, the firm reported owning 8,164K shares, representing
a decrease
of 1.22%.
The firm
decreased
its portfolio allocation in DBX by 1.46% over the last quarter.
Pictet Asset Management
holds 6,679K shares
representing 1.87% ownership of the company.
In it’s prior filing, the firm reported owning 10,208K shares, representing
a decrease
of 52.83%.
The firm
decreased
its portfolio allocation in DBX by 31.20% over the last quarter.
Dropbox Background Information
(This description is provided by the company.)
Dropbox is one place to keep life organized and keep work moving. With more than 700 million registered users across 180 countries, the Company is on a mission to design a more enlightened way of working. Dropbox is headquartered in San Francisco, CA.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
