Dropbox chief accounting officer sells $74,884 in stock

Sarah Elizabeth Schubach, the Chief Accounting Officer at Dropbox, sold 2,055 shares of the company's Class A Common Stock on October 30, 2026. The sale was executed at a price of $36.44 per share, amounting to a total of $74,884. This transaction was carried out in accordance with a Rule 10b5-1 trading plan that Schubach established on June 4, 2026. As a result of this sale, Schubach now directly owns 128,766 shares of Dropbox Class A Common Stock.

Interestingly, Dropbox shares have gained a 38% return over the past six months, as reported by InvestingPro data. Currently, the stock is trading at $34.66, which is lower than Schubach's transaction price of $36.44. Experts suggest that the stock may still be undervalued, as reflected in Fair Value estimates, and is included in a list of the most undervalued stocks.

Some of these beneficially owned securities are in the form of restricted stock units. Each of these units entitles Schubach to one share of Class A Common Stock, provided the units vest according to a schedule that extends until February 15, 2030. If Schubach were to leave her position at Dropbox before the vesting period concludes, the unvested restricted stock units would be canceled.

In other news, Dropbox reported impressive financial results for the third quarter of 2026, exceeding analysts' expectations. Adjusted earnings per share reached $0.88, surpassing the forecasted $0.73. Revenue for the quarter amounted to $637.3 million, which is higher than the expected $629.72 million. Additionally, Dropbox has raised its full-year guidance, demonstrating confidence in its future performance.

Despite a 1% decline in revenue on a constant currency basis, Dropbox managed to maintain flat revenue when excluding FormSwift. The company also added around 60,000 new core customers during the quarter.

Notably, UBS has revised its price target for Dropbox to $26, from $23, and has maintained a Sell rating. This adjustment is based on their analysis of the company's margin expansion.