Weitz Investment Management Inc. Acquires New Position in Box Inc (NYSE:BOX)

Weitz Investment Management Inc. acquired a new position in Box Inc (NYSE:BOX) in the first quarter, HoldingsChannel reports. The fund acquired 1,046,400 shares of the software maker’s stock, valued at approximately $20,206,000.

Several other hedge funds have also recently added to or reduced their stakes in BOX. Sageworth Trust Co acquired a new position in shares of BOX during the first quarter valued at about $26,000. Trust Co. of Vermont purchased a new position in shares of BOX during the 1st quarter valued at approximately $31,000. RPg Family Wealth Advisory LLC purchased a new position in shares of BOX during the 4th quarter valued at approximately $30,000. Loeb Partners Corp purchased a new position in BOX in the 4th quarter valued at $53,000. Finally, Advisory Services Network LLC lifted its holdings in BOX by 87.0% in the 4th quarter. Advisory Services Network LLC now owns 5,050 shares of the software maker’s stock valued at $85,000 after purchasing an additional 2,350 shares in the last quarter. 66.95% of the stock is owned by institutional investors and hedge funds.

Several research analysts have recently commented on the company. DA Davidson reiterated a “buy” rating and set a $25.00 price target on shares of BOX in a report on Friday, February 22nd. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $21.00 target price (down from $27.00) on shares of BOX in a research report on Thursday, February 28th. Morgan Stanley decreased their price objective on BOX from $21.00 to $19.00 and set an “equal weight” rating for the company in a research note on Thursday, February 28th. Canaccord Genuity restated a “buy” rating and set a $24.00 target price (down previously from $30.00) on shares of BOX in a research note on Thursday, February 28th. Finally, Citigroup cut BOX from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $27.00 to $21.00 in a research note on Thursday, February 28th. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $21.82.

NYSE BOX traded down $0.30 during trading hours on Friday, hitting $17.64. 1,780,126 shares of the company’s stock were exchanged, compared to its average volume of 3,200,947. Box Inc has a 12-month low of $15.30 and a 12-month high of $29.79. The company has a market capitalization of $2.59 billion, a PE ratio of -18.38 and a beta of 1.50. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 10.68.

BOX (NYSE:BOX) last released its earnings results on Monday, June 3rd. The software maker reported ($0.03) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.05) by $0.02. BOX had a negative return on equity of 446.05% and a negative net margin of 21.37%. The firm had revenue of $163.00 million for the quarter, compared to the consensus estimate of $161.46 million. During the same period in the prior year, the business posted ($0.07) earnings per share. The firm’s revenue for the quarter was up 16.0% compared to the same quarter last year. Equities analysts predict that Box Inc will post -0.94 EPS for the current year.

In other BOX news, CFO Dylan C. Smith sold 15,000 shares of the company’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $20.10, for a total transaction of $301,500.00. Following the completion of the sale, the chief financial officer now directly owns 1,099,280 shares in the company, valued at $22,095,528. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Jeff Mannie sold 10,000 shares of the company’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $19.74, for a total value of $197,400.00. Following the sale, the vice president now owns 104,596 shares of the company’s stock, valued at $2,064,725.04. The disclosure for this sale can be found here. Insiders have sold 55,000 shares of company stock worth $1,062,150 over the last quarter. 6.70% of the stock is currently owned by company insiders.

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BOX Profile

Box, Inc provides a cloud content management platform that enables organizations of various sizes to manage and share their content from anywhere or 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.

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Institutional Ownership by Quarter for BOX (NYSE:BOX)

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