Dropbox (DBX) Co-ceo Houston Andrew Sells $1M of Stock
Co-CEO Houston Andrew sold 29,500 shares of Dropbox for over $1 million on October 12, 2026.
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Houston Andrew, Co-CEO at Dropbox, Inc. ($DBX), sold 29,500 shares at an average price of $35.09, worth about $1.04 million, on October 12, 2026. The trade was reported to the SEC in a Form 4 filing and was made under a pre-arranged Rule 10b5-1 trading plan.
Since the trade, $DBX is up 2.0% to date (from the $34.87 close on Oct 12, 2026).
DBX
Dropbox, Inc.
Key Points
- On October 12, 2026, Co-CEO Houston Andrew sold 29,500 shares of Dropbox, Inc. for approximately $1,035,235, at a price of $35.09 per share.
- The stock recently traded around $35.96, which is above both its 50-day and 200-day moving averages by 3.6% and 26.2%, respectively.
- Dropbox has a market cap of about $7.73 billion and is set to report earnings on November 5, 2026.
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Andrew Houston, Co-CEO of Dropbox, Inc. (DBX), sold 29,500 shares for about $1,035,235 on October 12, 2026. The shares were sold at a price of $35.09 each, according to a Form 4 filing with the SEC.
Inside Houston's Trade
Houston's sale was part of a planned transaction. This move comes as Dropbox's stock has been performing well, trading recently at $35.96 as of October 16, 2026, which is above both its 50-day and 200-day moving averages.
Other Institutional Activity in Dropbox
Several institutional investors have adjusted their positions in Dropbox. Blackrock Inc. reduced its stake by 2,388,054 shares, ending with 18,450,111 shares valued at about $656.3 million. LSV Asset Management cut its holdings by 164,720 shares, bringing its total to 11,517,528 shares worth approximately $409.7 million. Vanguard Portfolio Management LLC also decreased its shares by 1,647,308, now holding 10,582,149 shares valued at around $376.4 million. Arrowstreet Capital trimmed its position by 693,800 shares, ending with 7,840,023 shares worth about $278.9 million. Renaissance Technologies reduced its stake by 507,265 shares, holding 7,213,667 shares valued at approximately $256.6 million.
Dropbox, Inc. Stock Down 1.6%
The stock recently traded around $35.96, which is 3.6% above its 50-day moving average of $34.72 and 26.2% above its 200-day moving average of $28.48. However, it is still 5.8% below its 52-week high of $38.17. The stock is currently 65.8% above its 52-week low of $21.70.
Recent Earnings
Dropbox reported trailing twelve-month revenue of approximately $2.53 billion, with an earnings per share (EPS) of $1.81. The company has a net margin of 17.5%. Its next earnings report is scheduled for November 5, 2026.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
1 target raises vs 1 cuts.
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EPS & revenue
EPS beat estimates by 8.0%. Revenue met estimates.
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Profit surprise
EBITDA missed by 24 percent. Operating income missed by 28 percent.
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Pre-earnings setup
Bar was low, analysts cautious going in.
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Analyst signal
1 target raise, 1 target cut.
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Earnings quality
Gross margin down 1.7 points. Operating margin down 2.3 points. Positive free cash flow.
Earnings Call Summary
The company reported revenue of $630 million, slightly beating the $627 million consensus, driven by better-than-expected retention and paying user gains in the core business. However, earnings per share came in at $0.76 versus the expected $0.71, driven by non-GAAP adjustments but missing reported consensus of $0.71. Management emphasized progress on three fronts: stabilizing the core business through retention improvements and pricing changes, rolling out Dash AI features to existing Dropbox users with 30 percent weekly repeat engagement, and launching Dropbox Protect for security. The company ended the quarter with 18.09 million paying users, slightly higher than expected, and generated $236 million in free cash flow, up 69 percent year-over-year.
Guidance Dropbox raised full year revenue guidance to $2.50 billion to $2.51 billion, expecting roughly flat growth after adjusting for one-time headwinds. They also raised operating margin guidance to 39.5 to 40 percent and lifted free cash flow expectations to at least $1.055 billion. For the next quarter, they guide revenue between $624 million and $627 million.
Underwhelming report. Mixed results that may lead to slightly lower expectations.
Insider Buying and Selling at Dropbox, Inc.
In addition to Houston's recent sale, other insiders have also sold shares. Chief Executive Officer Ashraf Alkarmi sold 28,800 shares at $35.54 on September 11, 2026, valued at around $1,023,454. Officer Sarah Elizabeth Schubach sold 2,025 shares at $36.78 on September 15, 2026, for approximately $74,480. Earlier, on October 1, 2026, Houston sold 354,300 shares at $34.01, totaling about $12.05 million.
Analysts Set New Price Targets
On August 7, 2026, Citigroup maintained a Neutral rating on Dropbox with a price target of $33.00, up from a prior target of $28.00. William Blair upgraded its rating to Market Perform on the same day. RBC Capital reiterated an Outperform rating with a price target of $42.00 on September 3, 2026. However, Citigroup downgraded its rating to Sell with a target of $29.00 on September 24, 2026. The consensus among analysts suggests a mean price target of $31.80.
About Dropbox, Inc.
Dropbox, Inc. provides a platform for content collaboration, allowing individuals and businesses to share and manage files online. The company's services include free and paid subscription options, catering to a wide range of users. This stock activity comes as the company prepares to release its upcoming earnings report.
Bottom Line
Investors should keep an eye on Dropbox's upcoming earnings report on November 5, 2026, for further insights into its financial performance. Houston's recent sale is part of a planned strategy, and the company's stock remains above key moving averages, signaling positive momentum.
Related Filing Alerts
Source: Houston Andrew's Form 4 filing on $DBX (Oct 12, 2026). Find the original filing: DBX Form 4 filings on SEC EDGAR. Written by software, not financial advice. How we make alerts