5 Best Affordable Tech Stocks to Invest In Now

2. Dropbox, Inc. (NASDAQ:DBX)

Number of Hedge Fund Holders: 44

Share Price as of August 12, 2022: $24.56

Dropbox, Inc. (NASDAQ:DBX) provides a content collaboration platform that lets its users all over the globe work on collaborative projects across a wide variety of industries such as technology, media, education, and industrials. It is based in San Francisco, California, United States.

A key feature of Dropbox, Inc. (NASDAQ:DBX) is the fact that it has grown its revenue at a CAGR of 19.67% over the past five years. Additionally, its total number of paying users has increased consistently for the past twelve quarters. Being a software firm allows it to post hefty 70% gross margins, and the company has more than tripled its free cash flow over the past five years – unlike several others in its sector.

As this year’s March quarter ended, 44 out of the 912 hedge funds surveyed by Insider Monkey had invested in Dropbox, Inc. (NASDAQ:DBX).

Dropbox, Inc. (NASDAQ:DBX)’s largest investor is Seth Klarman’s Baupost Group which owns 10 million shares that are worth $245 million.