Perigon Wealth Management LLC Sells 12,501 Shares of Dropbox, Inc. (NASDAQ:DBX)

Perigon Wealth Management LLC decreased its position in Dropbox, Inc. (NASDAQ:DBX - Free Report) by 33.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm 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 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. QRG Capital Management Inc. lifted 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 valued at $5,638,000 after buying an additional 21,190 shares in the last quarter. Aigen Investment Management LP bought a new stake in Dropbox in the 3rd quarter valued at $482,000. Retirement Systems of Alabama lifted its position in Dropbox by 15.2% in the 3rd quarter. Retirement Systems of Alabama now owns 944,033 shares of the company's stock valued at $24,007,000 after acquiring an additional 124,528 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Dropbox by 8.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,796,238 shares of the company's stock worth $71,108,000 after purchasing an additional 228,685 shares during the period. Finally, Robeco Institutional Asset Management B.V. increased its holdings in Dropbox by 6.1% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 2,355,762 shares of the company's stock worth $59,907,000 after purchasing an additional 134,503 shares in the last quarter. Institutional investors own 94.84% of the company's stock.

Dropbox Price Performance

NASDAQ:DBX traded up $0.43 on Tuesday, hitting $32.38. 2,124,839 shares of the company's stock were exchanged, compared to its average volume of 2,777,643. The firm has a 50-day moving average price of $30.19 and a 200-day moving average price of $26.83. Dropbox, Inc. has a 52 week low of $20.68 and a 52 week high of $33.43. The company has a market cap of $10.03 billion, a P/E ratio of 18.72, a price-to-earnings-growth ratio of 1.63 and a beta of 0.61.

Dropbox (NASDAQ:DBX - Get Free Report) last released 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 the consensus estimate 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 previous year, the company posted $0.35 EPS. On average, research analysts expect that Dropbox, Inc. will post 1.49 earnings per share for the current fiscal year.

Insider Activity

In other Dropbox news, CEO Andrew Houston sold 500,323 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $29.65, for a total value of $14,834,576.95. Following the completion of the sale, the chief executive officer now owns 8,266,666 shares in the company, valued at $245,106,646.90. This trade represents a 5.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Timothy Regan sold 2,500 shares of Dropbox stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $27.17, for a total transaction of $67,925.00. Following the completion of the transaction, the chief financial officer now directly owns 436,264 shares of the company's stock, valued at approximately $11,853,292.88. This trade represents a 0.57 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 902,568 shares of company stock valued at $26,729,180. 26.40% of the stock is owned by insiders.

Analyst Ratings Changes

Separately, Jefferies Financial Group upped their price objective on Dropbox from $27.00 to $30.00 and gave the stock a "hold" rating in a research report on Monday, January 6th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company has an average 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.