Assenagon Asset Management S.A. Decreases Holdings in Dropbox, Inc. (NASDAQ:DBX)

Assenagon Asset Management S.A. lowered its stake in shares of Dropbox, Inc. (NASDAQ:DBX) by 7.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 82,451 shares of the company’s stock after selling 6,706 shares during the period. Assenagon Asset Management S.A.’s holdings in Dropbox were worth $2,477,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Capital Performance Advisors LLP purchased a new position in Dropbox in the 3rd quarter valued at $28,000. V Square Quantitative Management LLC acquired a new stake in shares of Dropbox in the third quarter valued at about $31,000. Quarry LP lifted its stake in shares of Dropbox by 81.1% in the second quarter. Quarry LP now owns 1,965 shares of the company’s stock worth $44,000 after buying an additional 880 shares in the last quarter. UMB Bank n.a. lifted its stake in shares of Dropbox by 2,479.4% in the third quarter. UMB Bank n.a. now owns 1,754 shares of the company’s stock worth $45,000 after buying an additional 1,686 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in Dropbox by 133.3% during the third quarter. GAMMA Investing LLC now owns 2,888 shares of the company’s stock worth $73,000 after acquiring an additional 1,650 shares during the last quarter. Institutional investors and hedge funds own 94.84% of the company’s stock.

Insider Transactions at Dropbox

In other news, insider Eric Cox sold 2,330 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $26.41, for a total value of $61,535.30. Following the completion of the sale, the insider now directly owns 321,871 shares of the company’s stock, valued at approximately $8,500,613.11. The trade was a 0.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Timothy Regan sold 2,500 shares of the company’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $25.71, for a total value of $64,275.00. Following the completion of the sale, the chief financial officer now directly owns 464,247 shares of the company’s stock, valued at approximately $11,935,790.37. This trade represents a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 822,069 shares of company stock valued at $24,219,976. Corporate insiders own 26.40% of the company’s stock.

Dropbox Trading Up 0.3 %

NASDAQ:DBX opened at $31.19 on Thursday. Dropbox, Inc. has a 12-month low of $20.68 and a 12-month high of $33.43. The firm has a market cap of $9.66 billion, a PE ratio of 18.03, a price-to-earnings-growth ratio of 1.55 and a beta of 0.61. The stock has a fifty day moving average price of $29.30 and a 200 day moving average price of $26.18.

Dropbox (NASDAQ:DBX) last issued its earnings results on Thursday, November 7th. The company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.16). Dropbox had a net margin of 22.71% and a negative return on equity of 135.85%. The firm had revenue of $638.80 million during the quarter, compared to analyst estimates of $636.93 million. During the same period last year, the business earned $0.35 EPS. Equities analysts forecast that Dropbox, Inc. will post 1.49 EPS for the current year.

Analysts Set New Price Targets

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

Dropbox 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.