Box, Inc. (BOX) Position Increased by Vanguard Group Inc.
Vanguard Group Inc. boosted its stake in Box, Inc. (NYSE:BOX) by 79.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,977,960 shares of the software maker’s stock after acquiring an additional 3,521,030 shares during the period. Vanguard Group Inc. owned 6.07% of Box worth $145,518,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Wells Fargo & Company MN raised its holdings in Box by 3,627.5% in the second quarter. Wells Fargo & Company MN now owns 3,462,849 shares of the software maker’s stock valued at $63,162,000 after acquiring an additional 3,369,948 shares in the last quarter. First Trust Advisors LP raised its holdings 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 acquiring an additional 697,214 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Box by 453.9% in the first quarter. Renaissance Technologies LLC now owns 1,544,400 shares of the software maker’s stock valued at $25,189,000 after acquiring an additional 1,265,600 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Box by 3,041.0% in the second quarter. JPMorgan Chase & Co. now owns 1,366,608 shares of the software maker’s stock valued at $24,927,000 after acquiring an additional 1,323,099 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in Box by 50.9% in the second quarter. Northern Trust Corp now owns 957,271 shares of the software maker’s stock valued at $17,460,000 after acquiring an additional 323,028 shares in the last quarter. 57.37% of the stock is currently owned by hedge funds and other institutional investors.
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Box, Inc. (NYSE:BOX) opened at 21.53 on Friday. Box, Inc. has a 52-week low of $13.56 and a 52-week high of $21.76. The stock’s 50 day moving average is $19.04 and its 200 day moving average is $19.04. The company’s market cap is $2.88 billion.
Box (NYSE:BOX) last issued its earnings results on Wednesday, August 30th. The software maker reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.02. The firm had revenue of $122.94 million during the quarter, compared to analysts’ expectations of $121.75 million. Box had a negative return on equity of 232.81% and a negative net margin of 34.11%. Box’s quarterly revenue was up 28.4% compared to the same quarter last year. During the same period last year, the business earned ($0.14) earnings per share. On average, analysts predict that Box, Inc. will post ($0.45) earnings per share for the current fiscal year.
BOX has been the topic of several recent analyst reports. Drexel Hamilton reaffirmed a “buy” rating and issued a $28.00 price target on shares of Box in a report on Monday, August 28th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $25.00 price target on shares of Box in a report on Monday, June 26th. Mitsubishi UFJ Financial Group raised shares of Box to an “overweight” rating and upped their price target for the company from $23.00 to $24.00 in a report on Thursday, August 31st. BidaskClub cut shares of Box from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $24.00 price target on shares of Box in a report on Friday, October 6th. Three equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $23.40.
In other Box news, President Daniel J. Levin sold 57,444 shares of Box stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $18.43, for a total transaction of $1,058,692.92. Following the completion of the transaction, the president now directly owns 3,752 shares of the company’s stock, valued at $69,149.36. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Rory O’driscoll sold 115,000 shares of Box stock in a transaction on Friday, September 22nd. The shares were sold at an average price of $18.08, for a total value of $2,079,200.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,009,534 shares of company stock valued at $18,924,531. 22.30% of the stock is owned by company insiders.
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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