Ridgewood Investments LLC Sells 975 Shares of Dropbox, Inc. (NASDAQ:DBX)

Ridgewood Investments LLC trimmed its stake in Dropbox, Inc. (NASDAQ:DBX – Free Report) by 27.9% during the fourth quarter, Holdings Channel reports. The fund 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 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP purchased a new position in Dropbox in the third quarter valued at about $28,000. V Square Quantitative Management LLC purchased a new position in Dropbox in the third quarter valued at about $31,000. UMB Bank n.a. boosted its stake in Dropbox by 2,479.4% in the third quarter. UMB Bank n.a. now owns 1,754 shares of the company’s stock valued at $45,000 after acquiring an additional 1,686 shares during the last quarter. Quarry LP boosted its stake in Dropbox by 81.1% in the second quarter. Quarry LP now owns 1,965 shares of the company’s stock valued at $44,000 after acquiring an additional 880 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in Dropbox by 133.3% in the third quarter. GAMMA Investing LLC now owns 2,888 shares of the company’s stock valued at $73,000 after acquiring an additional 1,650 shares during the last quarter. 94.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Dropbox

In other Dropbox news, CFO Timothy Regan sold 10,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $29.65, for a total value of $296,500.00. Following the sale, the chief financial officer now directly owns 403,764 shares in the company, valued at $11,971,602.60. This represents a 2.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Andrew Houston sold 132,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $28.12, for a total transaction of $3,711,840.00. Following the completion of the sale, the chief executive officer now owns 8,266,666 shares in the company, valued at $232,458,647.92. This represents a 1.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 822,069 shares of company stock worth $24,209,501. 26.40% of the stock is owned by corporate insiders.

Dropbox Trading Down 1.1 %

Shares of DBX stock opened at $29.41 on Friday. The stock has a market capitalization of $9.11 billion, a P/E ratio of 17.00, a PEG ratio of 1.68 and a beta of 0.61. The firm’s 50 day moving average is $28.88 and its 200 day moving average is $25.74. Dropbox, Inc. has a 12 month low of $20.68 and a 12 month high of $33.43.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group boosted their target price 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 research analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $28.86.

Read Our Latest Stock Report on DBX

Dropbox Profile

(Free Report)

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.

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