Top Investors Are Buzzing About Box Inc (BOX)

With general bullishness amongst the heavyweights, key hedge funds were breaking ground themselves. Dorsal Capital Management, managed by Ryan Frick and Oliver Evans, initiated the biggest position in Box Inc (NYSE:BOX). Dorsal Capital Management had $18.9 million invested in the position at the end of the quarter. George McCabe’s Portolan Capital Management also initiated a $5.3 million position during the quarter. The following funds were also among the new BOX investors: Jim Simons’ Renaissance Technologies, Ken Griffin’s Citadel Investment Group, and Peter Muller’s PDT Partners.

Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as Box Inc (NYSE:BOX) but similarly valued. These stocks are EP Energy Corp (NYSE:EPE), United Community Banks Inc (NASDAQ:UCBI), TASER International, Inc. (NASDAQ:TASR), and CSG Systems International, Inc. (NASDAQ:CSGS). This group of stocks’ market caps resemble BOX’s market cap.

As you can see these stocks had an average of 13.75 hedge funds with bullish positions and the average amount invested in these stocks was $83 million. That figure was $189 million in BOX’s case. CSG Systems International, Inc. (NASDAQ:CSGS) is the most popular stock in this table. On the other hand United Community Banks Inc (NASDAQ:UCBI) is the least popular one with only 12 bullish hedge fund positions. Compared to these stocks Box Inc (NYSE:BOX) is more popular among hedge funds and has more money invested in it than any of the other stocks. Considering that hedge funds are very fond of this stock in relation to its market cap peers and sentiment continues to rise, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Disclosure: None