Box, Inc. (BOX) Holdings Increased by AO Asset Management LLC
AO Asset Management LLC grew its stake in shares of Box, Inc. (NYSE:BOX) by 40.5% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 1,212,300 shares of the software maker’s stock after purchasing an additional 349,300 shares during the period. Box comprises approximately 5.4% of AO Asset Management LLC’s portfolio, making the stock its 6th biggest position. AO Asset Management LLC owned about 0.92% of Box worth $22,112,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of BOX. Russell Investments Group Ltd. increased its holdings in Box by 39.5% during the 1st quarter. Russell Investments Group Ltd. now owns 21,638 shares of the software maker’s stock worth $352,000 after purchasing an additional 6,124 shares in the last quarter. Wells Fargo & Company MN increased its holdings in Box by 27.1% during the 1st quarter. Wells Fargo & Company MN now owns 92,901 shares of the software maker’s stock worth $1,515,000 after purchasing an additional 19,816 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Box by 29.1% during the 1st quarter. Bank of New York Mellon Corp now owns 252,752 shares of the software maker’s stock worth $4,123,000 after purchasing an additional 57,011 shares in the last quarter. Swiss National Bank increased its holdings in Box by 11.5% during the 1st quarter. Swiss National Bank now owns 84,300 shares of the software maker’s stock worth $1,375,000 after purchasing an additional 8,700 shares in the last quarter. Finally, UBS Asset Management Americas Inc. increased its holdings in Box by 95.8% during the 1st quarter. UBS Asset Management Americas Inc. now owns 20,753 shares of the software maker’s stock worth $338,000 after purchasing an additional 10,153 shares in the last quarter. 57.40% of the stock is owned by hedge funds and other institutional investors.
In other Box news, Director Rory O’driscoll sold 22,078 shares of Box stock in a transaction that occurred on Wednesday, September 20th. The shares were sold at an average price of $18.10, for a total value of $399,611.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Daniel J. Levin sold 50,000 shares of Box stock in a transaction that occurred 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 sale, 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 1,232,344 shares of company stock valued at $22,905,831. 22.30% of the stock is currently owned by insiders.
A number of analysts have commented on the company. Oppenheimer Holdings, Inc. reissued an “outperform” rating and set a $22.00 price objective on shares of Box in a report on Sunday, September 3rd. Rosenblatt Securities reissued a “buy” rating and set a $25.00 price objective on shares of Box in a report on Friday, September 1st. Mitsubishi UFJ Financial Group raised Box to an “overweight” rating and boosted their price objective for the stock from $23.00 to $24.00 in a report on Thursday, August 31st. Drexel Hamilton reissued a “buy” rating and set a $28.00 price objective on shares of Box in a report on Monday, August 28th. Finally, BidaskClub raised Box from a “hold” rating to a “buy” rating in a report on Wednesday, August 23rd. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $22.52.
Shares of Box, Inc. (NYSE:BOX) traded up 4.01% during trading on Friday, hitting $18.17. The stock had a trading volume of 5,463,517 shares. The stock has a 50 day moving average of $18.44 and a 200 day moving average of $18.44. The firm’s market cap is $2.43 billion. Box, Inc. has a 52-week low of $13.56 and a 52-week high of $18.81.
Box (NYSE:BOX) last announced its quarterly earnings results on Wednesday, August 30th. The software maker reported ($0.11) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.13) by $0.02. Box had a negative net margin of 34.11% and a negative return on equity of 232.81%. The company had revenue of $122.94 million during the quarter, compared to the consensus estimate of $121.75 million. During the same quarter last year, the firm earned ($0.14) earnings per share. The firm’s quarterly revenue was up 28.4% compared to the same quarter last year. On average, equities analysts anticipate that Box, Inc. will post ($0.45) EPS for the current year.
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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