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Box Wins A New Investor: Starboard Value

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Box Wins A New Investor: Starboard Value

Box, Inc. (NYSE: BOX) has responded to a 13D filing from activist investor Starboard Value, saying it's committed to maintaining an active and engaged dialogue with stockholders.

It was revealed Tuesday afternoon that Starboard Value owns a 7.5% stake in Box.

Box is a cloud content management and file sharing service for businesses.

See Also: Analysts Weigh In On Box Following Earnings

In a statement, Box said, "While we do not comment on interactions with our investors, Box is committed to maintaining an active and engaged dialogue with stockholders. The Board of Directors and management team are focused on delivering growth and profitability to drive long-term stockholder value as we continue to pioneer the Cloud Content Management market."

Box shares were trading up 8.2% at $16.08 in Wednesday’s pre-market session. The stock has a 52-week high of $25.40 and a 52-week low of $12.46.

Posted-In: Starboard ValueNews Hedge Funds General Best of Benzinga

 

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