5 Biggest IPOs Hedge Funds Are Betting On

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1. Dropbox (DBX)

Dropbox (DBX) is a company that offers file hosting services such as personal cloud, cloud storage, and file synchronization, to name a few. The company was founded back in 2007, and its headquarters are in San Francisco, California.

Dropbox went public at the end of March and its shares were up by almost 36% on its first day of trading. Because of this fantastic performance, Dropbox is considered the biggest tech IPO since Snapchat’s March 2017 debut.

Dropbox reported fiscal second quarter revenue of $339.1 million, which was up by 27% from the same period last year, and beating analysts’ predictions of $330.9 million. It also disclosed earnings per share of $0.11. At the end of the second quarter, 27 hedge funds in our database were long Dropbox (DBX), collectively owning around 2% of the company’s outstanding shares.

Disclosure: None

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