DBX DROPBOX, INC.
Price Chart
Executive Summary
Dropbox's CEO Andrew Houston sold ~$974K in open-market shares on 2026-05-14 following the conversion of derivates, and CTO Ali Dasdan sold ~$74K on 2026-05-18. The total open-market sales of ~$1.05M represent just 0.016% of the $6.5B market cap — well below the 0.1% materiality threshold. The CEO sale follows the company's Q1 earnings release (revenue +0.8%, GAAP net income -24%) and appears liquidity-driven (post-vesting sale).
Key Financial Metrics
Actionable Insight
The CEO sale is routine in size and timing — follows a derivative conversion and is below the 0.025% of shares outstanding. No bearish read-through warranted. Monitor the next 10-Q for any acceleration in paying-user declines (18.09M vs 18.26M prior). Despite the weak historical calibration (-6.18% T+20 avg loss), this cluster itself lacks conviction for a position.
Key Facts
- CEO Andrew Houston sold 37,498 shares at $25.96 on 2026-05-14, proceeds ~$974K
- CTO Ali Dasdan sold 2,700 shares at $27.28 on 2026-05-18, proceeds ~$74K
- Total open-market sales: ~$1.05M, or 0.016% of $6.5B market cap
- Tax-withholding transactions (CTO ~$504K, CAO ~$96K) are non-cash and not informative
- CEO sale immediately followed derivative conversion at $0 strike — pattern consistent with post-vesting liquidity
- Q1 2026 earnings (May 7) showed revenue +0.8% YoY to $629.5M but GAAP net income fell 24% to $114.5M
Financial Impact
Open-market insider selling totals $1.05M, which is 0.016% of market cap — immaterial relative to $6.5B enterprise value
Risk Factors
- CEO may continue selling in future windows, adding supply overhang
- Paying user base declining sequentially (18.09M) could pressure subscription revenue growth
- GAAP net income down 24% on higher interest expense from debt-funded buybacks
Market Snapshot
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-DBX-1779225427190 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
|
Jun 3, 2026
9d ago
|
Insider Cluster
| $27.18 $27.38 | ▲ +0.75% | ▲ +3.35% | $27.09 (−0.31%) |
|
Jun 1, 2026
11d ago
|
8-K
| $28.92 $28.16 | ▼ −2.63% | ▼ −2.77% | $27.09 (−6.32%) |
|
May 26, 2026
17d ago
|
8-K
| $26.46 $25.97 | ▼ −1.85% | ▼ −1.87% | $27.09 (+2.38%) |
|
May 20, 2026
23d ago
|
Insider Cluster
| $27.16 $27.51 | ▲ +1.29% | ▲ +0.84% | $27.09 (−0.25%) |
|
May 20, 2026
23d ago
|
Insider Cluster
| $27.16 $27.51 | ▲ +1.29% | ▲ +0.84% | $27.09 (−0.25%) |
|
May 20, 2026
23d ago
|
Insider Cluster
| $25.97 $26.19 | ▲ +0.84% | ▲ +0.29% | $27.09 (+4.32%) |
|
May 20, 2026
23d ago
|
Insider Cluster
| $27.16 $27.51 | ▼ −1.29% | ▼ −0.84% | $27.09 (+0.25%) |
|
May 20, 2026
23d ago
|
Insider Cluster
| $27.16 $27.51 | ▼ −1.29% | ▼ −0.84% | $27.09 (+0.25%) |
|
May 19, 2026
24d ago
|
Insider Cluster
| $27.53 $27.16 | ▼ −1.34% | ▼ −1.54% | $27.09 (−1.59%) |
|
May 19, 2026
24d ago
|
Insider Cluster
| $27.53 $27.16 | ▲ +1.34% | ▲ +1.54% | $27.09 (+1.59%) |
US Market Status
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