(Reuters) U.S. hedge fund Starboard Value LP revealed here a 7.5% stake in cloud service provider Box Inc (BOX.N) on Tuesday, calling its shares “undervalued”.Box shares were up about 7% at $15.84 after the bell. Up to Tuesday’s close, the stock had fallen 12% this year.
Starboard is now the second-biggest stakeholder in the company after Vanguard Group Inc, which has an 11.41% stake as of June 30, according to Refinitiv data.
Starboard Discloses 7.5% Stake in Box, Shares Rise
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