Commerzbank Aktiengesellschaft FI boosted its stake in shares of Box, Inc. (NYSE:BOX) by 84.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 31,230 shares of the software maker’s stock after purchasing an additional 14,337 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in BOX were worth $603,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the stock. Artisan Partners Limited Partnership bought a new position in BOX during the third quarter valued at approximately $17,949,000. Schwab Charles Investment Management Inc. raised its position in BOX by 35.1% in the third quarter. Schwab Charles Investment Management Inc. now owns 424,670 shares of the software maker’s stock worth $8,205,000 after acquiring an additional 110,416 shares during the period. American International Group Inc. raised its position in BOX by 8.1% in the third quarter. American International Group Inc. now owns 52,673 shares of the software maker’s stock worth $1,018,000 after acquiring an additional 3,939 shares during the period. Jasper Ridge Partners L.P. raised its position in BOX by 18.5% in the third quarter. Jasper Ridge Partners L.P. now owns 48,333 shares of the software maker’s stock worth $934,000 after acquiring an additional 7,550 shares during the period. Finally, Russell Investments Group Ltd. raised its position in BOX by 20.2% in the third quarter. Russell Investments Group Ltd. now owns 55,777 shares of the software maker’s stock worth $1,077,000 after acquiring an additional 9,392 shares during the period. Institutional investors own 63.42% of the company’s stock.
In related news, Director Rory O’driscoll sold 600,000 shares of BOX stock in a transaction dated Tuesday, December 5th. The shares were sold at an average price of $20.50, for a total transaction of $12,300,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Peter M. Mcgoff sold 70,000 shares of BOX stock in a transaction dated Tuesday, December 5th. The shares were sold at an average price of $20.30, for a total transaction of $1,421,000.00. Following the sale, the senior vice president now owns 348,748 shares of the company’s stock, valued at approximately $7,079,584.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,582,090 shares of company stock valued at $30,866,738. 22.30% of the stock is owned by corporate insiders.
BOX (NYSE:BOX) last released its quarterly earnings results on Wednesday, November 29th. The software maker reported ($0.13) EPS for the quarter, hitting analysts’ consensus estimates of ($0.13). BOX had a negative net margin of 33.20% and a negative return on equity of 270.51%. The firm had revenue of $129.30 million during the quarter, compared to analysts’ expectations of $128.67 million. During the same period in the previous year, the company earned ($0.14) EPS. The firm’s revenue for the quarter was up 25.8% compared to the same quarter last year. sell-side analysts forecast that Box, Inc. will post -1.17 EPS for the current fiscal year.
Several research firms have weighed in on BOX. Drexel Hamilton reiterated a “buy” rating and issued a $28.00 price target on shares of BOX in a research report on Monday, November 27th. Vetr upgraded shares of BOX from a “buy” rating to a “strong-buy” rating and set a $25.42 price objective on the stock in a research report on Wednesday, November 29th. JMP Securities raised their price objective on shares of BOX to $25.00 and gave the company an “outperform” rating in a research report on Thursday, November 30th. Oppenheimer restated a “buy” rating and set a $24.00 price objective on shares of BOX in a research report on Thursday, November 30th. Finally, Canaccord Genuity restated a “buy” rating and set a $25.00 price objective on shares of BOX in a research report on Thursday, November 30th. Three investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $24.24.
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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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