Box, Inc. (BOX) Holdings Increased by TIAA CREF Investment Management LLC
TIAA CREF Investment Management LLC raised its holdings in Box, Inc. (NYSE:BOX) by 43.2% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 395,130 shares of the software maker’s stock after acquiring an additional 119,192 shares during the period. TIAA CREF Investment Management LLC owned approximately 0.30% of Box worth $7,207,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in BOX. Two Sigma Securities LLC purchased a new stake in shares of Box in the 1st quarter valued at about $177,000. BNP Paribas Arbitrage SA raised its holdings in shares of Box by 843.7% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 9,786 shares of the software maker’s stock valued at $178,000 after acquiring an additional 8,749 shares in the last quarter. Principal Financial Group Inc. purchased a new stake in shares of Box in the 2nd quarter valued at about $199,000. Fortaleza Asset Management Inc. raised its holdings in shares of Box by 86.1% in the 2nd quarter. Fortaleza Asset Management Inc. now owns 11,615 shares of the software maker’s stock valued at $212,000 after acquiring an additional 5,375 shares in the last quarter. Finally, Stifel Financial Corp purchased a new stake in shares of Box in the 1st quarter valued at about $222,000. 57.37% of the stock is currently owned by hedge funds and other institutional investors.
In other Box news, COO Daniel J. Levin sold 40,000 shares of the stock in a transaction on Monday, July 17th. The stock was sold at an average price of $18.93, for a total transaction of $757,200.00. Following the sale, the chief operating officer now owns 3,752 shares of the company’s stock, valued at approximately $71,025.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Daniel J. Levin sold 50,000 shares of the stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $20.00, for a total value of $1,000,000.00. Following the sale, the insider now directly owns 3,752 shares in the company, valued at approximately $75,040. The disclosure for this sale can be found here. Insiders have sold a total of 999,534 shares of company stock worth $18,684,231 in the last ninety days. Insiders own 22.30% of the company’s stock.
Shares of Box, Inc. (NYSE:BOX) opened at 19.20 on Thursday. Box, Inc. has a 52-week low of $13.56 and a 52-week high of $20.91. The company’s 50 day moving average price is $18.64 and its 200 day moving average price is $18.64. The company’s market capitalization is $2.57 billion.
Box (NYSE:BOX) last released its quarterly earnings data on Wednesday, August 30th. The software maker reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.02. The company had revenue of $122.94 million for the quarter, compared to the consensus estimate of $121.75 million. Box had a negative return on equity of 232.81% and a negative net margin of 34.11%. Box’s quarterly revenue was up 28.4% on a year-over-year basis. During the same period last year, the business posted ($0.14) EPS. On average, analysts predict that Box, Inc. will post ($0.45) EPS for the current year.
Several analysts have weighed in on the company. Rosenblatt Securities reaffirmed a “buy” rating and issued a $25.00 price target on shares of Box in a report on Monday. Stifel Nicolaus reaffirmed a “hold” rating and issued a $17.00 price target on shares of Box in a report on Wednesday, August 16th. Canaccord Genuity reaffirmed a “buy” rating and issued a $24.00 price target on shares of Box in a report on Friday, October 6th. BidaskClub raised Box from a “hold” rating to a “buy” rating in a report on Wednesday, August 23rd. Finally, Raymond James Financial, Inc. raised Box from a “market perform” rating to an “outperform” rating and set a $26.00 price objective on the stock in a report on Monday, September 25th. Three investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $23.32.
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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