9,915 Shares in Box, Inc. (BOX) Purchased by StepStone Group LP
StepStone Group LP bought a new stake in Box, Inc. (NYSE:BOX) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 9,915 shares of the software maker’s stock, valued at approximately $180,000. Box comprises 0.1% of StepStone Group LP’s portfolio, making the stock its 9th largest position.
A number of other institutional investors have also added to or reduced their stakes in BOX. Swiss National Bank grew its holdings in shares of Box by 11.5% during the first quarter. Swiss National Bank now owns 84,300 shares of the software maker’s stock worth $1,375,000 after purchasing an additional 8,700 shares during the last quarter. Jasper Ridge Partners L.P. grew its holdings in shares of Box by 40.6% during the first quarter. Jasper Ridge Partners L.P. now owns 26,478 shares of the software maker’s stock worth $432,000 after purchasing an additional 7,642 shares during the last quarter. UBS Asset Management Americas Inc. grew its holdings in shares of Box by 95.8% during the first quarter. UBS Asset Management Americas Inc. now owns 20,753 shares of the software maker’s stock worth $338,000 after purchasing an additional 10,153 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of Box during the first quarter worth about $248,000. Finally, Emerald Advisers Inc. PA bought a new stake in shares of Box during the second quarter worth about $10,805,000. Hedge funds and other institutional investors own 57.40% of the company’s stock.
BOX has been the topic of several research reports. BidaskClub upgraded Box from a “hold” rating to a “buy” rating in a report on Wednesday, August 23rd. Wells Fargo & Company restated an “outperform” rating and set a $27.00 price target (up from $24.00) on shares of Box in a report on Thursday, June 1st. Morgan Stanley restated an “equal weight” rating and set a $20.00 price target (up from $19.00) on shares of Box in a report on Thursday, June 1st. Mitsubishi UFJ Financial Group upgraded Box from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $17.50 to $23.00 in a report on Thursday, June 1st. Finally, Rosenblatt Securities restated a “buy” rating and set a $25.00 price target on shares of Box in a report on Friday, September 1st. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Box currently has an average rating of “Buy” and an average price target of $22.52.
Shares of Box, Inc. (NYSE BOX) traded down 0.65% during mid-day trading on Monday, reaching $18.34. The company had a trading volume of 237,017 shares. The firm’s market capitalization is $2.44 billion. Box, Inc. has a 12-month low of $13.56 and a 12-month high of $20.91. The stock has a 50 day moving average price of $18.52 and a 200 day moving average price of $18.02.
Box (NYSE:BOX) last posted its quarterly earnings results on Wednesday, August 30th. The software maker reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.02. Box had a negative return on equity of 232.81% and a negative net margin of 34.11%. The business had revenue of $122.94 million for the quarter, compared to analyst estimates of $121.75 million. During the same period last year, the company earned ($0.14) EPS. Box’s revenue for the quarter was up 28.4% compared to the same quarter last year. On average, equities analysts forecast that Box, Inc. will post ($0.45) earnings per share for the current year.
In other news, President Daniel J. Levin sold 20,000 shares of Box stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $18.60, for a total value of $372,000.00. Following the sale, the president now directly owns 3,752 shares in the company, valued at approximately $69,787.20. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Rory O’driscoll sold 332,992 shares of Box stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $19.04, for a total value of $6,340,167.68. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,175,192 shares of company stock worth $22,105,842. Corporate insiders own 20.59% of the company’s stock.
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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