Dropbox co-CEO Ashraf Alkarmi sells $1.02m in stock

Ashraf Alkarmi, Co-CEO of Dropbox, sold 28,800 shares of the company's Class A Common Stock on September 11, 2026, for a total of $1,023,454. The shares were traded at prices between $34.99 and $35.83, with an average price of $35.5366 per share. Aligned with a Rule 10b5-1 plan adopted in June 2026, Alkarmi now owns 1,004,081 shares of Dropbox Class A Common Stock, including restricted stock units that vest through May 15, 2030.

This insider sale took place as Dropbox shares approached a 52-week high of $38.17, having increased 46% over the past six months. Analysts indicate the stock may be undervalued, trading at a P/E ratio of 20.96 and a market cap of $8.11 billion. Dropbox reported strong earnings in Q2 2026, exceeding expectations with $0.75 per share in adjusted earnings and $631.5 million in revenue, but its stock fell in after-hours trading.

The company also experienced a security breach affecting around 5,000 accounts, for which Dropbox notified regulators and impacted users. Analysts have shown mixed reactions, with William Blair upgrading Dropbox to Market Perform and BofA Securities raising its price target to $30, while maintaining an Underperform rating.