What happened Shares of Box (NYSE: BOX) spiked as much as 17% today after Reuters reported that activist investor Starboard Value is advocating for the company to sell itself. As of 1:15 p.m. EDT, the stock had given back some of those gains and was up 7%. So what Starboard Value is disappointed with Box's share performance in recent years and is now pressuring the company to explore a potential sale, according to the report. The activist institution had accumulated a 7.5% stake in Box in late 2019. A few days after that position was disclosed in regulatory filings, Box and Starboard announced an agreement designed to drive revenue growth and margin expansion. Starboard secured three board seats, and Box formed an operating committee to help improve operating performance. Image source: Getty Images. While Box has made progress in terms of revenue growth and improved profitability -- revenue increased 8% last quarter and adjusted operating margin expanded by 11 percentage points -- the stock has lagged the broader market for years. Shares have gained 5% over the past three years, compared to the S&P 500's 45% advance. Now what Box has had talks with other companies, as well as private equity firms, Reuters says, but no deal has been finalized and negotiations could fall through. Starboard has reportedly been frustrated that Box did not execute well to benefit from the remote work trend catalyzed by the COVID-19 pandemic, which boosted demand for many tech companies offering cloud services. 10 stocks we like better than BoxWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Box wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of February 24, 2021 Evan Niu, CFA has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Box. The Motley Fool has a disclosure policy.Source