Hedge Funds Are Betting On Dropbox, Inc. (DBX)

DBX) and determine whether the smart money was really smart about this stock.” data-reactid=”12″>The latest 13F reporting period has come and gone, and Insider Monkey is again at the forefront when it comes to making use of this gold mine of data. We at Insider Monkey have plowed through 823 13F filings that hedge funds and well-known value investors are required to file by the SEC. The 13F filings show the funds’ and investors’ portfolio positions as of June 30th, when the S&P 500 Index was trading around the 3100 level. Stocks kept going up since then. In this article we look at how hedge funds traded Dropbox, Inc. (NASDAQ:DBX) and determine whether the smart money was really smart about this stock.

DBX) the right investment to pursue these days? Investors who are in the know were in an optimistic mood. The number of bullish hedge fund bets advanced by 7 in recent months. Dropbox, Inc. (NASDAQ:DBX) was in 51 hedge funds’ portfolios at the end of June. This is the new all time high for this statistics. Our calculations also showed that DBX isn’t among the 30 most popular stocks among hedge funds (click for Q2 rankings and see the video for a quick look at the top 5 stocks). Video: Watch our video about the top 5 most popular hedge fund stocks.” data-reactid=”13″>Is Dropbox, Inc. (NASDAQ:DBX) the right investment to pursue these days? Investors who are in the know were in an optimistic mood. The number of bullish hedge fund bets advanced by 7 in recent months. Dropbox, Inc. (NASDAQ:DBX) was in 51 hedge funds’ portfolios at the end of June. This is the new all time high for this statistics. Our calculations also showed that DBX isn’t among the 30 most popular stocks among hedge funds (click for Q2 rankings and see the video for a quick look at the top 5 stocks). Video: Watch our video about the top 5 most popular hedge fund stocks.

see the details here). That’s why we believe hedge fund sentiment is a useful indicator that investors should pay attention to.” data-reactid=”19″>In the financial world there are a large number of tools investors have at their disposal to grade stocks. A pair of the most under-the-radar tools are hedge fund and insider trading indicators. We have shown that, historically, those who follow the top picks of the best fund managers can outperform the broader indices by a solid amount. Insider Monkey’s monthly stock picks returned 101% since March 2017 and outperformed the S&P 500 ETFs by more than 56 percentage points. Our short strategy outperformed the S&P 500 short ETFs by 20 percentage points annually (see the details here). That’s why we believe hedge fund sentiment is a useful indicator that investors should pay attention to.

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Israel Englander of Millennium Management

junior gold mining stock.. We go through lists like the 10 most profitable companies in America to pick the best large-cap stocks to buy. Even though we recommend positions in only a tiny fraction of the companies we analyze, we check out as many stocks as we can. We read hedge fund investor letters and listen to stock pitches at hedge fund conferences. If you want to find out the best healthcare stock to buy right now, you can watch our latest hedge fund manager interview here. With all of this in mind let’s review the fresh hedge fund action encompassing Dropbox, Inc. (NASDAQ:DBX).” data-reactid=”41″>At Insider Monkey we scour multiple sources to uncover the next great investment idea. Federal Reserve has been creating trillions of dollars electronically to keep the interest rates near zero. We believe this will lead to inflation and boost precious metals prices. So, we are checking out this junior gold mining stock.. We go through lists like the 10 most profitable companies in America to pick the best large-cap stocks to buy. Even though we recommend positions in only a tiny fraction of the companies we analyze, we check out as many stocks as we can. We read hedge fund investor letters and listen to stock pitches at hedge fund conferences. If you want to find out the best healthcare stock to buy right now, you can watch our latest hedge fund manager interview here. With all of this in mind let’s review the fresh hedge fund action encompassing Dropbox, Inc. (NASDAQ:DBX).

Hedge fund activity in Dropbox, Inc. (NASDAQ:DBX)

At the end of June, a total of 51 of the hedge funds tracked by Insider Monkey were long this stock, a change of 16% from one quarter earlier. On the other hand, there were a total of 43 hedge funds with a bullish position in DBX a year ago. So, let’s see which hedge funds were among the top holders of the stock and which hedge funds were making big moves.

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Greenvale Capital allocated the biggest weight to Dropbox, Inc. (NASDAQ:DBX), around 5.36% of its 13F portfolio. SoMa Equity Partners is also relatively very bullish on the stock, dishing out 5.33 percent of its 13F equity portfolio to DBX.” data-reactid=”64″>More specifically, Renaissance Technologies was the largest shareholder of Dropbox, Inc. (NASDAQ:DBX), with a stake worth $483.8 million reported as of the end of September. Trailing Renaissance Technologies was SoMa Equity Partners, which amassed a stake valued at $136.6 million. Arrowstreet Capital, D E Shaw, and Millennium Management were also very fond of the stock, becoming one of the largest hedge fund holders of the company. In terms of the portfolio weights assigned to each position Greenvale Capital allocated the biggest weight to Dropbox, Inc. (NASDAQ:DBX), around 5.36% of its 13F portfolio. SoMa Equity Partners is also relatively very bullish on the stock, dishing out 5.33 percent of its 13F equity portfolio to DBX.