The absence of 10b5-1 plan designations and the simultaneous selling by both Co-CEOs and the CFO within two days raises the probability of informed selling. Monitor for any forthcoming 8-K or earnings pre-announcement that could explain the cluster.
Price Chart
Executive Summary
Four Dropbox insiders, including both Co-CEOs and the CFO, sold a total of $15.86M in open-market sales over a one-week window. The sales represent approximately 0.5% of market cap, a modest but notable cluster. No 10b5-1 plan indication is present, and the concentration in C-suite executives suggests a bearish signal, though the dollar amount relative to market cap is not extreme.
Key Financial Metrics
Key Facts
- Co-CEO Houston Andrew sold 324.4K shares for $11.35M on 2026-09-10
- CFO Tennenbaum Ross sold 97.6K shares for $3.42M on 2026-09-10
- Co-CEO Alkarmi Ashraf sold 28.8K shares for $1.02M on 2026-09-11
- Chief Accounting Officer Schubach Sarah Elizabeth sold 2.0K shares for $74K on 2026-09-15
- Total cluster value: $15.86M in open-market sales
- No 10b5-1 plan designation noted for any of the trades
Financial Impact
Total insider sales of $15.86M represent approximately 0.5% of Dropbox's market cap, a modest but material cluster concentrated in C-suite executives.
Risk Factors
- Insider sales may be routine portfolio diversification despite the cluster pattern
- No explicit negative catalyst identified in the filing — the signal is purely behavioral
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-DBX-1789679114702 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 21, 2026 5d ago | Institutional Cluster | $37.48 | awaiting T+20 | — | $37.73 (−0.67%) |
Oct 19, 2026 7d ago | Insider Cluster | $35.94 | awaiting T+20 | — | $37.73 (−4.98%) |
Oct 5, 2026 20d ago | Insider Cluster | $33.73 | awaiting T+20 | — | $37.73 (+11.86%) |
Sep 17, 2026 5w ago | Insider Cluster | $36.48 $35.57 | ▲ +2.49% | ▲ +2.70% | $37.73 (−3.43%) |
Sep 15, 2026 5w ago | Insider Cluster | $37.74 $35.62 | ▲ +5.62% | ▲ +7.68% | $37.73 (+0.03%) |
Sep 14, 2026 5w ago | Insider Cluster | $37.63 $35.60 | ▲ +5.39% | ▲ +8.37% | $37.73 (−0.27%) |
Sep 9, 2026 6w ago | Insider Cluster | $35.05 $34.14 | ▼ −2.60% | ▼ −4.97% | $37.73 (+7.65%) |
Aug 19, 2026 9w ago | Insider Cluster | $34.00 $36.48 | ▲ +7.29% | ▲ +7.29% | $37.73 (+10.97%) |
Aug 4, 2026 11w ago | Insider Cluster | $35.00 $34.50 | ▼ −1.43% | ▼ −0.83% | $37.73 (+7.80%) |
Jul 17, 2026 14w ago | Insider Cluster | $30.62 $34.28 | ▲ +11.95% | ▲ +7.50% | $37.73 (+23.22%) |
US Market Status
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