Norges Bank bought a new position in Box, Inc. (NYSE:BOX) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 1,585,008 shares of the software maker’s stock, valued at approximately $28,609,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of BOX. Truist Financial Corp bought a new stake in shares of BOX in the 3rd quarter worth about $268,000. Morgan Stanley grew its holdings in shares of BOX by 6.3% in the 3rd quarter. Morgan Stanley now owns 672,404 shares of the software maker’s stock worth $11,672,000 after purchasing an additional 39,938 shares during the last quarter. Great West Life Assurance Co. Can grew its holdings in shares of BOX by 98.8% in the 3rd quarter. Great West Life Assurance Co. Can now owns 273,608 shares of the software maker’s stock worth $4,747,000 after purchasing an additional 135,999 shares during the last quarter. Paces Ferry Wealth Advisors LLC bought a new stake in shares of BOX in the 3rd quarter worth about $73,000. Finally, Eudaimonia Partners LLC bought a new stake in shares of BOX in the 3rd quarter worth about $40,000. 77.86% of the stock is currently owned by institutional investors and hedge funds.
In related news, CFO Dylan C. Smith sold 45,000 shares of the stock in a transaction that occurred on Wednesday, February 10th. The shares were sold at an average price of $18.30, for a total value of $823,500.00. Following the sale, the chief financial officer now directly owns 1,120,172 shares in the company, valued at approximately $20,499,147.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Dylan C. Smith sold 30,000 shares of the stock in a transaction that occurred on Wednesday, March 10th. The shares were sold at an average price of $21.16, for a total transaction of $634,800.00. Following the completion of the sale, the chief financial officer now owns 1,090,172 shares in the company, valued at $23,068,039.52. The disclosure for this sale can be found here. Company insiders own 6.20% of the company’s stock.
BOX (NYSE:BOX) last released its earnings results on Monday, March 1st. The software maker reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.05. The company had revenue of $198.91 million for the quarter, compared to the consensus estimate of $196.59 million. BOX had a negative net margin of 9.12% and a negative return on equity of 124.79%. The company’s revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.07 EPS. Research analysts forecast that Box, Inc. will post -0.31 EPS for the current year.
Several research analysts recently issued reports on BOX shares. DA Davidson reduced their price target on shares of BOX from $25.00 to $22.00 and set a “neutral” rating on the stock in a research report on Friday, April 9th. Morgan Stanley upped their price target on shares of BOX from $23.00 to $25.00 and gave the stock an “overweight” rating in a research report on Tuesday. KeyCorp upped their price target on shares of BOX from $22.00 to $27.00 and gave the stock an “overweight” rating in a research report on Monday, March 29th. William Blair reiterated an “outperform” rating on shares of BOX in a research report on Wednesday, March 3rd. Finally, Oppenheimer reiterated a “buy” rating and set a $24.00 price target on shares of BOX in a research report on Wednesday, March 3rd. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $24.63.
Box, Inc provides a cloud content management platform that enables organizations of various sizes to manage and share their content from anywhere on any device. The company's Software-as-a-Service platform enables users to collaborate on content internally and with external parties, automate content-driven business processes, develop custom applications, and implement data protection, security, and compliance features to comply with legal and regulatory requirements, internal policies, and industry standards and regulations.
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