Paloma Partners Management Co cut its stake in Box, Inc. (NYSE:BOX) by 83.9% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 16,420 shares of the software maker’s stock after selling 85,300 shares during the period. Paloma Partners Management Co’s holdings in Box were worth $268,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of BOX. potrero capital research llc boosted its stake in shares of Box by 30.7% in the first quarter. potrero capital research llc now owns 335,734 shares of the software maker’s stock valued at $5,476,000 after buying an additional 78,955 shares during the period. State Street Corp boosted its stake in shares of Box by 6.1% in the first quarter. State Street Corp now owns 875,932 shares of the software maker’s stock valued at $14,287,000 after buying an additional 50,372 shares during the period. Two Sigma Securities LLC acquired a new stake in shares of Box during the first quarter valued at $177,000. Schwab Charles Investment Management Inc. boosted its stake in shares of Box by 24.1% in the first quarter. Schwab Charles Investment Management Inc. now owns 221,341 shares of the software maker’s stock valued at $3,611,000 after buying an additional 42,972 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in shares of 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 buying an additional 1,265,600 shares during the period. Institutional investors and hedge funds own 36.51% of the company’s stock.
Shares of Box, Inc. (NYSE:BOX) opened at 19.68 on Friday. Box, Inc. has a one year low of $10.51 and a one year high of $20.91. The company’s 50 day moving average is $18.81 and its 200 day moving average is $17.59. The company’s market capitalization is $2.59 billion.
Box (NYSE:BOX) last announced its earnings results on Wednesday, May 31st. The software maker reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.01. The business had revenue of $117.20 million for the quarter, compared to the consensus estimate of $114.70 million. Box had a negative net margin of 36.01% and a negative return on equity of 187.98%. Box’s quarterly revenue was up 29.9% on a year-over-year basis. During the same period last year, the firm posted ($0.18) earnings per share. Equities research analysts predict that Box, Inc. will post ($0.46) earnings per share for the current year.
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Several brokerages have weighed in on BOX. Rosenblatt Securities reiterated a “buy” rating and issued a $25.00 price objective on shares of Box in a research note on Monday, July 17th. Drexel Hamilton reiterated a “buy” rating and issued a $28.00 price objective on shares of Box in a research note on Tuesday, June 27th. ValuEngine upgraded shares of Box from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Bank of America Corporation reiterated a “buy” rating and issued a $22.00 price objective (up previously from $21.00) on shares of Box in a research note on Friday, June 2nd. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $20.00 price objective (up previously from $19.00) on shares of Box in a research note on Thursday, June 1st. Six investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $22.24.
In related news, COO Daniel J. Levin sold 40,000 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $18.46, for a total value of $738,400.00. Following the sale, the chief operating officer now directly owns 3,752 shares of the company’s stock, valued at $69,261.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Fisher Jurvetson Fund V. Draper sold 320,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $18.07, for a total transaction of $5,782,400.00. The disclosure for this sale can be found here. Insiders sold 1,718,934 shares of company stock worth $32,066,666 over the last ninety days. 22.30% of the stock is currently owned by 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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