DBX - Dropbox gains amid activist speculation after 13F filing

May, 12 2023 10:04 AM Dropbox Inc

2023-05-12 10:04:20 ET

Dropbox ( NASDAQ: DBX ) rose 1.1% amid speculation that an activist may be targeting the company after a 13F filing from UBS.
Dropbox ( DBX ) could be a target for an activist after a 13F filing from UBS showed that the bank added more than 4 million shares of Dropbox in Q1.
Gordon Haskett's Don Bilson highlighted in a note on Friday that Dropbox is a "controlled" company so it's not typically a target for an activist investor. He also pointed out that well known activist ValueAct took a position in controlled company New York Times last year and a UBS 13F filing in August showed a stake NYT.
UBS is interesting because it's sometimes associated with activist taking swap positions through certain banks.
Goldman Sachs upgraded Dropbox ( DBX ) on Monday after the storage company reports results last week.
Dropbox ( DBX ) has been speculated as being a potential target for activisst before, also after a 13F filing in May 2021.

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