Gilder Gagnon Howe & Co. LLC Has $5.25 Million Stake in Box, Inc. (NYSE:BOX)
Gilder Gagnon Howe & Co. LLC increased its stake in Box, Inc. (NYSE:BOX) by 1,665.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 288,051 shares of the software maker’s stock after buying an additional 271,736 shares during the period. Gilder Gagnon Howe & Co. LLC’s holdings in Box were worth $5,254,000 as of its most recent filing with the SEC.
Several other institutional investors also recently bought and sold shares of the company. Essex Investment Management Co. LLC increased its position in Box by 0.8% in the second quarter. Essex Investment Management Co. LLC now owns 75,775 shares of the software maker’s stock valued at $1,382,000 after buying an additional 628 shares during the period. K.J. Harrison & Partners Inc boosted its stake in Box by 102.9% in the second quarter. K.J. Harrison & Partners Inc now owns 69,000 shares of the software maker’s stock worth $1,259,000 after buying an additional 35,000 shares in the last quarter. Emerald Mutual Fund Advisers Trust acquired a new stake in Box during the second quarter worth $9,080,000. Emerald Advisers Inc. PA acquired a new stake in Box during the second quarter worth $10,805,000. Finally, Spark Investment Management LLC boosted its stake in Box by 53.5% in the second quarter. Spark Investment Management LLC now owns 379,600 shares of the software maker’s stock worth $6,923,000 after buying an additional 132,300 shares in the last quarter. Institutional investors and hedge funds own 38.18% of the company’s stock.
Shares of Box, Inc. (NYSE:BOX) opened at 18.80 on Thursday. The company’s 50 day moving average price is $18.90 and its 200-day moving average price is $17.91. Box, Inc. has a 52 week low of $12.26 and a 52 week high of $20.91. The firm’s market capitalization is $2.47 billion.
Box (NYSE:BOX) last posted its quarterly earnings data on Wednesday, May 31st. The software maker reported ($0.13) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.14) by $0.01. The business had revenue of $117.20 million during the quarter, compared to the consensus estimate of $114.70 million. Box had a negative return on equity of 187.98% and a negative net margin of 36.01%. Box’s quarterly revenue was up 29.9% on a year-over-year basis. During the same period in the prior year, the business posted ($0.18) earnings per share. On average, equities research analysts expect that Box, Inc. will post ($0.46) EPS for the current fiscal year.
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BOX has been the subject of a number of recent analyst reports. Wells Fargo & Company reaffirmed an “outperform” rating and set a $27.00 price target (up from $24.00) on shares of Box in a report on Thursday, June 1st. Morgan Stanley reaffirmed an “equal weight” rating and set a $20.00 price target (up from $19.00) on shares of Box in a report on Thursday, June 1st. Mitsubishi UFJ Financial Group raised Box from a “neutral” rating to an “overweight” rating and raised their price target for the company from $17.50 to $23.00 in a report on Thursday, June 1st. Rosenblatt Securities reaffirmed a “buy” rating and set a $25.00 price target on shares of Box in a report on Monday, June 26th. Finally, BidaskClub cut Box from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $22.24.
In related news, Director Rory O’driscoll sold 671,186 shares of the stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $18.48, for a total value of $12,403,517.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Fisher Jurvetson Fund V. Draper sold 320,000 shares of the stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $18.07, for a total value of $5,782,400.00. The disclosure for this sale can be found here. Insiders sold 1,768,934 shares of company stock valued at $33,066,666 over the last 90 days. 22.30% of the stock is currently 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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