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

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 Intel (NASDAQ:INTC) 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 ServiceNow (NYSE:NOW) on 2/3/2025.
• Sold $1,001 – $15,000 in shares of Microsoft (NASDAQ:MSFT) on 1/30/2025.
• Purchased $1,001 – $15,000 in shares of Alibaba Group (NYSE:BABA) on 1/30/2025.
• Purchased $1,001 – $15,000 in shares of Alibaba Group (NYSE:BABA) on 1/29/2025.
• Sold $1,001 – $15,000 in shares of Credo Technology Group (NASDAQ:CRDO) 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 NVIDIA (NASDAQ:NVDA) on 1/29/2025.

Dropbox Trading Up 0.9 %

NASDAQ:DBX opened at $32.78 on Friday. Dropbox, Inc. has a 12 month low of $20.68 and a 12 month high of $33.33. The company has a market cap of $10.15 billion, a PE ratio of 18.95, a price-to-earnings-growth ratio of 1.64 and a beta of 0.61. The company has a 50 day simple moving average of $30.80 and a two-hundred day simple moving average of $27.26.

Insiders Place Their Bets

In other news, CEO Andrew Houston sold 132,000 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $28.12, for a total transaction of $3,711,840.00. Following the sale, the chief executive officer now directly owns 8,266,666 shares in the company, valued at approximately $232,458,647.92. This represents a 1.57 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Eric Cox sold 2,330 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $26.41, for a total transaction of $61,535.30. Following the sale, the insider now owns 321,871 shares in the company, valued at $8,500,613.11. This represents a 0.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 902,568 shares of company stock worth $26,741,730 in the last 90 days. 26.40% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. EverSource Wealth Advisors LLC boosted its holdings in Dropbox by 96.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 865 shares of the company’s stock worth $26,000 after buying an additional 424 shares during the period. Avion Wealth lifted its stake in Dropbox by 4,472.7% in the 4th quarter. Avion Wealth now owns 1,006 shares of the company’s stock worth $30,000 after purchasing an additional 984 shares in the last quarter. Capital Performance Advisors LLP purchased a new stake in Dropbox in the 3rd quarter worth $28,000. V Square Quantitative Management LLC purchased a new stake in Dropbox in the 3rd quarter worth $31,000. Finally, SBI Securities Co. Ltd. purchased a new stake in Dropbox in the 4th quarter worth $40,000. Institutional investors own 94.84% of the company’s stock.

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.