Adams Street Partners LLC Acquires Shares of 746,568 Box, Inc. (BOX)
Adams Street Partners LLC acquired a new stake in Box, Inc. (NYSE:BOX) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 746,568 shares of the software maker’s stock, valued at approximately $13,617,000. Box comprises 3.2% of Adams Street Partners LLC’s investment portfolio, making the stock its 5th largest position.
A number of other hedge funds also recently modified their holdings of BOX. Rhumbline Advisers raised its stake in shares of Box by 65.9% in the second quarter. Rhumbline Advisers now owns 86,907 shares of the software maker’s stock valued at $1,585,000 after buying an additional 34,530 shares during the period. First Trust Advisors LP raised its position in Box by 32.2% in the second quarter. First Trust Advisors LP now owns 2,859,338 shares of the software maker’s stock valued at $52,154,000 after buying an additional 697,214 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in Box by 42.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 314,254 shares of the software maker’s stock valued at $5,732,000 after buying an additional 92,913 shares during the last quarter. Trexquant Investment LP raised its position in Box by 77.1% in the second quarter. Trexquant Investment LP now owns 56,000 shares of the software maker’s stock valued at $1,021,000 after buying an additional 24,386 shares during the last quarter. Finally, Stoneridge Investment Partners LLC acquired a new position in Box during the second quarter valued at about $470,000. Institutional investors and hedge funds own 36.59% of the company’s stock.
Shares of Box, Inc. (BOX) opened at 18.53 on Tuesday. Box, Inc. has a 12 month low of $12.26 and a 12 month high of $20.91. The company’s market cap is $2.44 billion. The company’s 50 day moving average is $18.83 and its 200 day moving average is $17.94.
Box (NYSE:BOX) last posted its quarterly earnings results on Wednesday, May 31st. The software maker reported ($0.13) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.14) by $0.01. The business had revenue of $117.20 million during the quarter, compared to analysts’ expectations of $114.70 million. Box had a negative net margin of 36.01% and a negative return on equity of 187.98%. The business’s quarterly revenue was up 29.9% on a year-over-year basis. During the same quarter last year, the company posted ($0.18) earnings per share. On average, equities research analysts predict that Box, Inc. will post ($0.46) EPS for the current fiscal year.
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Several equities analysts have recently issued reports on BOX shares. Wells Fargo & Company reiterated an “outperform” rating and set a $27.00 target price (up from $24.00) on shares of Box in a report on Thursday, June 1st. Morgan Stanley reiterated an “equal weight” rating and set a $20.00 target price (up from $19.00) on shares of Box in a report on Thursday, June 1st. Mitsubishi UFJ Financial Group upgraded shares of Box from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $17.50 to $23.00 in a report on Thursday, June 1st. Rosenblatt Securities reiterated a “buy” rating and set a $25.00 target price on shares of Box in a report on Monday, June 26th. Finally, BidaskClub lowered shares of Box from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Box currently has an average rating of “Buy” and an average price target of $22.24.
In other Box news, Director Rory O’driscoll sold 671,186 shares of the firm’s stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $18.48, for a total value of $12,403,517.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Daniel J. Levin sold 50,000 shares of the firm’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $20.00, for a total transaction of $1,000,000.00. Following the completion of the transaction, the insider now directly owns 3,752 shares of the company’s stock, valued at approximately $75,040. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,728,934 shares of company stock valued at $32,328,266. Corporate insiders own 20.59% of the company’s stock.
Box Company Profile
Box, Inc provides an enterprise content management platform that enables organizations of all sizes to manage enterprise content while allowing access and sharing of this content from anywhere, on any device. With the Company’s Software-as-a-Service (SaaS) cloud-based platform, users can collaborate on content both internally and with external parties, automate content-driven business processes, develop custom applications, and implement data protection, security and compliance features to comply with internal policies and industry regulations.
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