HighTower Advisors LLC acquired a new stake in shares of Box, Inc. (NYSE:BOX) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 16,437 shares of the software maker’s stock, valued at approximately $301,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Hillsdale Investment Management Inc. purchased a new position in Box during the second quarter valued at approximately $155,000. BNP Paribas Arbitrage SA grew its position in Box by 843.7% during the second quarter. BNP Paribas Arbitrage SA now owns 9,786 shares of the software maker’s stock valued at $178,000 after purchasing an additional 8,749 shares in the last quarter. StepStone Group LP purchased a new position in Box during the second quarter valued at approximately $180,000. Amalgamated Bank purchased a new position in Box during the second quarter valued at approximately $183,000. Finally, Bluestein R H & Co. purchased a new position in Box during the second quarter valued at approximately $192,000. 57.37% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Rory O’driscoll sold 233,066 shares of Box stock in a transaction that occurred on Tuesday, September 19th. The shares were sold at an average price of $18.41, for a total value of $4,290,745.06. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Peter M. Mcgoff sold 80,000 shares of Box stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $18.52, for a total transaction of $1,481,600.00. Following the completion of the sale, the senior vice president now owns 286,135 shares in the company, valued at $5,299,220.20. The disclosure for this sale can be found here. Insiders sold 1,009,534 shares of company stock worth $18,924,531 over the last quarter. 22.30% of the stock is owned by corporate insiders.
A number of research analysts recently commented on BOX shares. BidaskClub raised shares of Box from a “hold” rating to a “buy” rating in a research report on Wednesday, August 23rd. Mitsubishi UFJ Financial Group raised shares of Box to an “overweight” rating and boosted their price objective for the company from $23.00 to $24.00 in a research report on Thursday, August 31st. Raymond James Financial, Inc. raised shares of Box from a “market perform” rating to an “outperform” rating and set a $26.00 price objective on the stock in a research report on Monday, September 25th. Canaccord Genuity reaffirmed a “buy” rating and set a $24.00 price objective on shares of Box in a research report on Friday, October 6th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $25.00 price objective on shares of Box in a research report on Monday, October 9th. Three equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $23.40.
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Shares of Box, Inc. (BOX) opened at 21.53 on Monday. The company’s market capitalization is $2.88 billion. Box, Inc. has a 52-week low of $13.56 and a 52-week high of $21.76. The firm has a 50-day moving average of $19.04 and a 200 day moving average of $19.04.
Box (NYSE:BOX) last posted its quarterly earnings data on Wednesday, August 30th. The software maker reported ($0.11) earnings per share (EPS) for the quarter, beating the Zacks’ 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 for the quarter, compared to the consensus estimate of $121.75 million. During the same period last year, the company earned ($0.14) earnings per share. The firm’s revenue was up 28.4% compared to the same quarter last year. On average, analysts anticipate that Box, Inc. will post ($0.45) EPS for the current year.
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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