JPMorgan Chase & Co. reduced its position in shares of Box, Inc. (NYSE:BOX) by 15.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 43,509 shares of the software maker’s stock after selling 8,073 shares during the period. JPMorgan Chase & Co.’s holdings in Box were worth $710,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. State Street Corp boosted its position in shares of Box by 5.8% in the fourth quarter. State Street Corp now owns 825,560 shares of the software maker’s stock worth $11,442,000 after buying an additional 45,024 shares in the last quarter. Bank of Montreal Can boosted its position in shares of Box by 7.2% in the first quarter. Bank of Montreal Can now owns 309,286 shares of the software maker’s stock worth $5,044,000 after buying an additional 20,707 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Box by 27.7% in the fourth quarter. Renaissance Technologies LLC now owns 278,800 shares of the software maker’s stock worth $3,864,000 after buying an additional 60,500 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Box by 29.1% in the first quarter. Bank of New York Mellon Corp now owns 252,752 shares of the software maker’s stock worth $4,123,000 after buying an additional 57,011 shares in the last quarter. Finally, Marcus Capital LLC boosted its position in shares of Box by 18.4% in the first quarter. Marcus Capital LLC now owns 176,350 shares of the software maker’s stock worth $2,876,000 after buying an additional 27,350 shares in the last quarter. Institutional investors and hedge funds own 36.62% of the company’s stock.
Shares of Box, Inc. (BOX) opened at 19.92 on Thursday. Box, Inc. has a 52 week low of $11.01 and a 52 week high of $20.91. The firm’s market capitalization is $1.60 billion. The firm has a 50-day moving average price of $18.83 and a 200-day moving average price of $17.74.
Box (NYSE:BOX) last released its quarterly earnings results on Wednesday, May 31st. The software maker reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.01. The company 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%. The firm’s revenue was up 29.9% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.18) EPS. On average, equities analysts expect that Box, Inc. will post ($0.46) earnings per share for the current fiscal year.
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A number of research analysts have recently weighed in on BOX shares. Drexel Hamilton restated a “buy” rating and issued a $26.00 price target on shares of Box in a research report on Friday, March 31st. Wells Fargo & Company restated an “outperform” rating and issued a $27.00 price target (up previously from $24.00) on shares of Box in a research report on Thursday, June 1st. Morgan Stanley reiterated an “equal weight” rating and set a $20.00 price objective (up previously from $19.00) on shares of Box in a research report on Thursday, June 1st. Mitsubishi UFJ Financial Group upgraded Box from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $17.50 to $23.00 in a research report on Thursday, June 1st. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $25.00 price objective on shares of Box in a research report on Monday, June 26th. Six investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Box has a consensus rating of “Buy” and an average price target of $22.24.
In other news, COO Daniel J. Levin sold 40,000 shares of the company’s stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $18.28, for a total transaction of $731,200.00. Following the completion of the sale, the chief operating officer now owns 3,752 shares in the company, valued at approximately $68,586.56. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Rory O’driscoll sold 671,186 shares of the company’s stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $18.48, for a total value of $12,403,517.28. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,718,934 shares of company stock valued at $32,066,666. 20.59% of the stock is currently owned by corporate insiders.
Box Company Profile
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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