Dropbox (NASDAQ:DBX) Shares Unloaded Rep. Robert Bresnahan, Jr.

Representative Robert Bresnahan, Jr. (R-Pennsylvania) recently sold shares of Dropbox, Inc. (NASDAQ:DBX). In a filing disclosed on February 13th, the Representative disclosed that they had sold between $1,001 and $15,000 in Dropbox stock on January 13th. The trade occurred in the Representative’s “JOINT OWNERSHIP LPL ACCOUNT” account.

Representative Robert Bresnahan, Jr. also recently made the following trade(s):

• Sold $15,001 – $50,000 in shares of Lowe’s Companies (NYSE:LOW) on 2/7/2025.
• Purchased $1,001 – $15,000 in shares of ServiceNow (NYSE:NOW) on 2/3/2025.
• Purchased $1,001 – $15,000 in shares of Take-Two Interactive Software (NASDAQ:TTWO) on 2/3/2025.
• Purchased $1,001 – $15,000 in shares of Intel (NASDAQ:INTC) on 2/3/2025.
• Purchased $1,001 – $15,000 in shares of Alibaba Group (NYSE:BABA) on 1/30/2025.
• Sold $1,001 – $15,000 in shares of Microsoft (NASDAQ:MSFT) on 1/30/2025.
• Sold $1,001 – $15,000 in shares of Robinhood Markets (NASDAQ:HOOD) on 1/29/2025.
• Sold $1,001 – $15,000 in shares of NVIDIA (NASDAQ:NVDA) on 1/29/2025.
• Sold $1,001 – $15,000 in shares of Manhattan Associates (NASDAQ:MANH) on 1/29/2025.
• Sold $1,001 – $15,000 in shares of Credo Technology Group (NASDAQ:CRDO) on 1/29/2025.

Dropbox Trading Up 0.9 %

Shares of Dropbox stock traded up $0.29 on Friday, reaching $32.78. The stock had a trading volume of 2,410,565 shares, compared to its average volume of 2,490,581. Dropbox, Inc. has a 1 year low of $20.68 and a 1 year high of $33.33. The company has a market cap of $10.15 billion, a P/E ratio of 18.95, a price-to-earnings-growth ratio of 1.64 and a beta of 0.61. The business’s 50 day moving average is $30.80 and its two-hundred day moving average is $27.26.

Insider Transactions at Dropbox

In related news, insider Eric Cox sold 2,330 shares of the firm’s stock in a transaction on 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 owns 321,871 shares of the company’s stock, valued at $8,500,613.11. This trade represents a 0.72 % 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, CEO Andrew Houston sold 137,499 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $30.05, for a total value of $4,131,844.95. Following the completion of the sale, the chief executive officer now directly owns 8,266,666 shares of the company’s stock, valued at $248,413,313.30. The trade was a 1.64 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 902,568 shares of company stock worth $26,741,730. Insiders own 26.40% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group raised 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 one has given a buy rating to the stock. According to MarketBeat, Dropbox presently has a consensus rating of “Hold” and an average price target of $27.50.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Pacer Advisors Inc. grew its position in Dropbox by 4.5% during the third quarter. Pacer Advisors Inc. now owns 7,788,652 shares of the company’s stock valued at $198,065,000 after acquiring an additional 333,245 shares during the last quarter. LSV Asset Management grew its position in Dropbox by 24.0% during the fourth quarter. LSV Asset Management now owns 6,446,121 shares of the company’s stock valued at $193,641,000 after acquiring an additional 1,245,563 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its position in Dropbox by 6.2% during the third quarter. Jacobs Levy Equity Management Inc. now owns 6,239,493 shares of the company’s stock valued at $158,670,000 after acquiring an additional 365,893 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in Dropbox by 38.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,224,864 shares of the company’s stock valued at $156,955,000 after acquiring an additional 1,440,887 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Dropbox by 0.6% during the third quarter. Geode Capital Management LLC now owns 4,366,271 shares of the company’s stock valued at $111,368,000 after acquiring an additional 25,893 shares during the last quarter. 94.84% of the stock is currently owned by institutional investors.

About Representative Bresnahan

Rob Bresnahan Jr. (Republican Party) is a member of the U.S. House, representing Pennsylvania’s 8th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027.

Bresnahan (Republican Party) is running for re-election to the U.S. House to represent Pennsylvania’s 8th Congressional District. He declared candidacy for the 2026 election.

Rob Bresnahan Jr. was born in Kingston, Pennsylvania. He earned a B.S. in business administration, management and operations from the University of Scranton in 2012. His career experience includes working as the chief financial officer and CEO of a family business, an electrical contracting company.

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.