Bank of New York Mellon Corp grew its holdings in Box Inc (NYSE:BOX) by 58.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 593,197 shares of the software maker’s stock after purchasing an additional 218,611 shares during the period. Bank of New York Mellon Corp owned about 0.42% of BOX worth $14,824,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. New York State Common Retirement Fund raised its holdings in shares of BOX by 0.7% in the first quarter. New York State Common Retirement Fund now owns 383,135 shares of the software maker’s stock valued at $7,873,000 after purchasing an additional 2,589 shares during the last quarter. State Board of Administration of Florida Retirement System raised its holdings in shares of BOX by 7.4% in the second quarter. State Board of Administration of Florida Retirement System now owns 60,949 shares of the software maker’s stock valued at $1,523,000 after purchasing an additional 4,200 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of BOX in the first quarter valued at approximately $111,000. Welch Capital Partners LLC NY raised its holdings in shares of BOX by 57.5% in the second quarter. Welch Capital Partners LLC NY now owns 16,873 shares of the software maker’s stock valued at $422,000 after purchasing an additional 6,161 shares during the last quarter. Finally, Xact Kapitalforvaltning AB raised its holdings in shares of BOX by 58.6% in the first quarter. Xact Kapitalforvaltning AB now owns 17,053 shares of the software maker’s stock valued at $350,000 after purchasing an additional 6,300 shares during the last quarter. Institutional investors own 67.08% of the company’s stock.
In other news, Director Daniel J. Levin sold 80,000 shares of the business’s stock in a transaction dated Monday, July 16th. The shares were sold at an average price of $26.22, for a total value of $2,097,600.00. Following the completion of the sale, the director now owns 5,790 shares of the company’s stock, valued at $151,813.80. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Dylan C. Smith sold 15,000 shares of the business’s stock in a transaction dated Friday, August 10th. The shares were sold at an average price of $25.85, for a total transaction of $387,750.00. The disclosure for this sale can be found here. In the last three months, insiders sold 272,000 shares of company stock valued at $6,760,280. 8.51% of the stock is currently owned by company insiders.
BOX (NYSE:BOX) last released its quarterly earnings data on Tuesday, August 28th. The software maker reported ($0.05) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.06) by $0.01. The firm had revenue of $148.20 million during the quarter, compared to analysts’ expectations of $146.58 million. BOX had a negative net margin of 27.10% and a negative return on equity of 488.70%. The company’s revenue for the quarter was up 20.6% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.11) earnings per share. Research analysts anticipate that Box Inc will post -0.95 EPS for the current fiscal year.
A number of brokerages recently weighed in on BOX. Rosenblatt Securities restated a “hold” rating and set a $25.00 target price on shares of BOX in a report on Sunday, August 26th. JMP Securities restated an “outperform” rating and set a $32.00 target price on shares of BOX in a report on Wednesday, August 29th. DA Davidson lowered their target price on shares of BOX from $31.00 to $30.00 and set a “buy” rating on the stock in a report on Wednesday, August 29th. First Analysis began coverage on shares of BOX in a report on Friday, July 20th. They set an “overweight” rating and a $32.00 target price on the stock. Finally, ValuEngine downgraded shares of BOX from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 30th. Seven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $27.00.
Box, Inc provides cloud content management platform that enables organizations of various sizes to manage and share their enterprise 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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