DBX - Dropbox ticks higher amid continued speculation on activist investor

2023-05-15 10:30:12 ET

• Drobox ( NASDAQ: DBX ) ticked up 1% amid continued speculation that an activist investor may be targeting the company after a recent 13F filing.
• Dropbox ( DBX ) may be a target for an activist after a 13F filing last week from UBS showed that the bank added more than 4 million shares of Dropbox in Q1.
• Activist Elliott Management could be the possible activist interested in Dropbox, Gordon Haskett's Don Bilson wrote in note on Monday. UBS recently purchased a lot of Goodyear ( GT ) in the Q1 and Elliott disclosed on Thursday that it had a accumulated a stake in the tiremaker and plans to seek five board seats, as well as sale of its company-owned store network.
• Elliott targeting Dropbox ( DBX ) wouldn't be new for the activist fund, which took a stake in the cloud computing company back in 2021.
• Gordon Haskett's Bilson highlighted in a note on Friday that Dropbox is a "controlled" company, so it's not typically a target for an activist investor.

For further details see: