Ridgewood Investments LLC Has $76,000 Stake in Dropbox, Inc. (NASDAQ:DBX)

Ridgewood Investments LLC decreased its position in Dropbox, Inc. (NASDAQ:DBX) by 27.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,521 shares of the company’s stock after selling 975 shares during the period. Ridgewood Investments LLC’s holdings in Dropbox were worth $76,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of DBX. Assenagon Asset Management S.A. increased its stake in Dropbox by 0.4% in the third quarter. Assenagon Asset Management S.A. now owns 89,157 shares of the company’s stock valued at $2,267,000 after purchasing an additional 383 shares in the last quarter. Quarry LP increased 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 purchasing an additional 459 shares in the last quarter. Harbor Capital Advisors Inc. increased its stake in Dropbox by 13.2% in the third quarter. Harbor Capital Advisors Inc. now owns 7,956 shares of the company’s stock valued at $202,000 after purchasing an additional 926 shares in the last quarter. Covestor Ltd increased its stake in Dropbox by 34.3% in the third quarter. Covestor Ltd now owns 4,043 shares of the company’s stock valued at $102,000 after purchasing an additional 1,033 shares in the last quarter. Finally, Capital Performance Advisors LLP bought a new stake in Dropbox in the third quarter valued at $28,000. Institutional investors and hedge funds own 94.84% of the company’s stock.

Insider Transactions at Dropbox

In other Dropbox news, CEO Andrew Houston sold 29,917 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $30.07, for a total value of $899,604.19. Following the completion of the sale, the chief executive officer now directly owns 8,266,666 shares of the company’s stock, valued at approximately $248,578,646.62. This represents a 0.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Timothy Regan sold 2,500 shares of the company’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $26.18, for a total transaction of $65,450.00. Following the completion of the sale, the chief financial officer now directly owns 466,747 shares of the company’s stock, valued at $12,219,436.46. The trade was a 0.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 822,069 shares of company stock valued at $24,209,501 over the last three months. Corporate insiders own 26.40% of the company’s stock.

Dropbox Price Performance

NASDAQ:DBX opened at $29.41 on Friday. The firm has a 50-day moving average of $28.88 and a 200-day moving average of $25.74. The company has a market cap of $9.11 billion, a PE ratio of 17.00, a PEG ratio of 1.68 and a beta of 0.61. Dropbox, Inc. has a one year low of $20.68 and a one year high of $33.43.

Analysts Set New Price Targets

Separately, Jefferies Financial Group lifted their price target on shares of Dropbox from $27.00 to $30.00 and gave the company a “hold” rating in a research note on Monday, January 6th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $28.86.

About Dropbox

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.