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

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 0.6 %

DBX traded up $0.20 on Tuesday, reaching $32.98. The company had a trading volume of 561,509 shares, compared to its average volume of 2,660,495. Dropbox, Inc. has a one year low of $20.68 and a one year high of $33.33. The company has a market capitalization of $10.21 billion, a P/E ratio of 19.06, a PEG ratio of 1.64 and a beta of 0.61. The company has a fifty day moving average of $30.88 and a 200-day moving average of $27.37.

Analyst Ratings Changes

Separately, Jefferies Financial Group increased their price target on Dropbox from $27.00 to $30.00 and gave the company a "hold" rating in a research note on Monday, January 6th.

Hedge Funds Weigh In On Dropbox

Hedge funds have recently modified their holdings of the stock. EverSource Wealth Advisors LLC boosted its position in shares of Dropbox by 96.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 865 shares of the company's stock valued at $26,000 after purchasing an additional 424 shares during the period. Capital Performance Advisors LLP purchased a new stake in Dropbox during the third quarter valued at about $28,000. Avion Wealth boosted its holdings in shares of Dropbox by 4,472.7% in the fourth quarter. Avion Wealth now owns 1,006 shares of the company's stock worth $30,000 after buying an additional 984 shares during the period. V Square Quantitative Management LLC acquired a new position in shares of Dropbox in the third quarter worth about $31,000. Finally, True Wealth Design LLC grew its position in Dropbox by 191.0% during the 4th quarter. True Wealth Design LLC now owns 1,036 shares of the company's stock worth $31,000 after purchasing an additional 680 shares in the last quarter. 94.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Dropbox news, CEO Andrew Houston sold 132,000 shares of Dropbox stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $28.12, for a total value of $3,711,840.00. Following the completion of the sale, the chief executive officer now directly owns 8,266,666 shares in the company, valued at $232,458,647.92. The trade was a 1.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Timothy Regan sold 10,000 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $29.65, for a total transaction of $296,500.00. Following the transaction, the chief financial officer now directly owns 403,764 shares in the company, valued at $11,971,602.60. The trade was a 2.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 900,238 shares of company stock worth $26,680,195. 26.40% of the stock is owned by corporate insiders.

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.