Perigon Wealth Management LLC Cuts Holdings in Dropbox, Inc. (NASDAQ:DBX)

Perigon Wealth Management LLC decreased its position in Dropbox, Inc. (NASDAQ:DBX) by 33.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 24,598 shares of the company’s stock after selling 12,501 shares during the period. Perigon Wealth Management LLC’s holdings in Dropbox were worth $748,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Assenagon Asset Management S.A. grew its position in Dropbox by 0.4% during the third quarter. Assenagon Asset Management S.A. now owns 89,157 shares of the company’s stock valued at $2,267,000 after buying an additional 383 shares during the period. Quarry LP boosted its stake in Dropbox by 23.4% in the third quarter. Quarry LP now owns 2,424 shares of the company’s stock valued at $62,000 after acquiring an additional 459 shares during the last quarter. Aaron Wealth Advisors LLC boosted its stake in Dropbox by 4.8% in the fourth quarter. Aaron Wealth Advisors LLC now owns 10,151 shares of the company’s stock valued at $305,000 after acquiring an additional 461 shares during the last quarter. Fifth Third Bancorp grew its position in shares of Dropbox by 35.6% during the 4th quarter. Fifth Third Bancorp now owns 1,798 shares of the company’s stock valued at $54,000 after acquiring an additional 472 shares during the period. Finally, Nisa Investment Advisors LLC increased its stake in shares of Dropbox by 10.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 5,389 shares of the company’s stock worth $162,000 after purchasing an additional 490 shares during the last quarter. Institutional investors own 94.84% of the company’s stock.

Insiders Place Their Bets

In other Dropbox news, insider Eric Cox sold 2,330 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $26.41, for a total value of $61,535.30. Following the sale, the insider now directly owns 321,871 shares in the company, valued at $8,500,613.11. This represents a 0.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Timothy Regan sold 2,500 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $27.17, for a total transaction of $67,925.00. Following the transaction, the chief financial officer now owns 436,264 shares of the company’s stock, valued at $11,853,292.88. This trade represents a 0.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 900,068 shares of company stock worth $26,648,755 in the last quarter. 26.40% of the stock is owned by company insiders.

Dropbox Trading Up 0.1 %

Shares of DBX stock opened at $32.15 on Friday. The firm’s 50 day moving average is $30.04 and its 200 day moving average is $26.66. The stock has a market capitalization of $9.96 billion, a P/E ratio of 18.58, a PEG ratio of 1.65 and a beta of 0.61. Dropbox, Inc. has a 12 month low of $20.68 and a 12 month high of $33.43.

Dropbox (NASDAQ:DBX) last posted its earnings results on Thursday, November 7th. The company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.16). The company had revenue of $638.80 million for the quarter, compared to analysts’ expectations of $636.93 million. Dropbox had a negative return on equity of 135.85% and a net margin of 22.71%. During the same quarter in the prior year, the company earned $0.35 EPS. On average, equities analysts predict that Dropbox, Inc. will post 1.49 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group upped their price objective on Dropbox from $27.00 to $30.00 and gave the company a “hold” rating in a research note on Monday, January 6th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Dropbox has a consensus rating of “Hold” and an average price target of $27.50.

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.