These transactions are intriguing to say the least, as aggregate hedge fund interest dropped by 12 funds in the first quarter. Mina Faltas's fund, Washington Harbour Partners, also dropped its stock, about $18.3 million worth. It's worth mentioning that Gil Simon's SoMa Equity Partners dumped the biggest position of the "upper crust" of funds tracked by Insider Monkey, comprising close to $144.2 million in stock. (NASDAQ:DBX) has faced a decline in interest from the entirety of the hedge funds we track, logic holds that there is a sect of money managers that decided to sell off their entire stakes in the first quarter. Indaba Capital Management is also relatively very bullish on the stock, dishing out 5.32 percent of its 13F equity portfolio to DBX. (NASDAQ:DBX), around 5.96% of its 13F portfolio. In terms of the portfolio weights assigned to each position Greenhouse Funds allocated the biggest weight to Dropbox, Inc. Citadel Investment Group, Valiant Capital, and Greenhouse Funds were also very fond of the stock, becoming one of the largest hedge fund holders of the company. On the second spot was Two Sigma Advisors which amassed $74.5 million worth of shares. (NASDAQ:DBX), which was worth $275.6 million at the end of the fourth quarter. That's why we believe hedge fund sentiment is a useful indicator that investors should pay attention to.Īmong these funds, Renaissance Technologies held the most valuable stake in Dropbox, Inc. Insider Monkey's monthly stock picks returned 206.8% since March 2017 and outperformed the S&P 500 ETFs by more than 115 percentage points ( see the details here). 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. A pair of the most under-the-radar tools are hedge fund and insider trading indicators. In the financial world there are a large number of tools investors have at their disposal to grade stocks. Our calculations also showed that DBX isn't among the 30 most popular stocks among hedge funds (click for Q1 rankings). There were 43 hedge funds in our database with DBX positions at the end of the fourth quarter. The all time high for this statistic is 51. (NASDAQ: DBX) was in 31 hedge funds' portfolios at the end of March. (NASDAQ: DBX) has experienced a decrease in hedge fund interest in recent months. It's not surprising given that hedge funds have access to better information and more resources to predict the winners in the stock market.ĭropbox, Inc. Although there have been several high profile failed hedge fund picks, the consensus picks among hedge fund investors have historically outperformed the market after adjusting for known risk attributes. We like to check what the smart money thinks first before doing extensive research on a given stock. (NASDAQ: DBX) is a good investment right now. In this article you are going to find out whether hedge funds think Dropbox, Inc.