Box, Inc. (BOX) Shares Sold by Cortina Asset Management LLC
Cortina Asset Management LLC lessened its position in Box, Inc. (NYSE:BOX) by 0.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,664,673 shares of the software maker’s stock after selling 8,930 shares during the period. Box accounts for about 1.3% of Cortina Asset Management LLC’s portfolio, making the stock its 8th biggest holding. Cortina Asset Management LLC owned about 1.24% of Box worth $32,161,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Ameritas Investment Partners Inc. grew its position in shares of Box by 81.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 6,896 shares of the software maker’s stock valued at $126,000 after buying an additional 3,092 shares during the last quarter. Hillsdale Investment Management Inc. bought a new stake in shares of Box in the 2nd quarter valued at about $155,000. BNP Paribas Arbitrage SA grew its position 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 buying an additional 8,749 shares during the last quarter. StepStone Group LP bought a new stake in shares of Box in the 2nd quarter valued at about $180,000. Finally, Amalgamated Bank bought a new stake in shares of Box during the 2nd quarter valued at about $183,000. 64.64% of the stock is owned by institutional investors and hedge funds.
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BOX has been the topic of several research analyst reports. Canaccord Genuity upped their target price on Box from $24.00 to $25.00 and gave the company a “buy” rating in a research report on Friday, October 13th. Drexel Hamilton restated a “buy” rating and set a $28.00 target price on shares of Box in a research report on Monday, August 28th. Rosenblatt Securities restated a “buy” rating and set a $25.00 target price on shares of Box in a research report on Friday, September 1st. Mitsubishi UFJ Financial Group upgraded Box to an “overweight” rating and upped their target price for the company from $23.00 to $24.00 in a research report on Thursday, August 31st. Finally, BidaskClub lowered Box from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Three analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $23.40.
Shares of Box, Inc. (NYSE:BOX) traded down $0.17 during trading hours on Monday, reaching $22.12. The company’s stock had a trading volume of 1,899,900 shares, compared to its average volume of 1,597,174. The company has a debt-to-equity ratio of 1.58, a quick ratio of 1.02 and a current ratio of 1.02. Box, Inc. has a 1-year low of $13.56 and a 1-year high of $22.34.
Box (NYSE:BOX) last announced 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. The business had revenue of $122.94 million for the quarter, compared to analyst estimates of $121.75 million. Box had a negative return on equity of 232.81% and a negative net margin of 34.11%. The company’s quarterly revenue was up 28.4% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.14) earnings per share. equities research analysts anticipate that Box, Inc. will post -1.15 earnings per share for the current year.
In other news, President Daniel J. Levin sold 57,444 shares of the stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $18.43, for a total value of $1,058,692.92. Following the completion of the sale, the president now directly owns 3,752 shares of the company’s stock, valued at $69,149.36. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Rory O’driscoll sold 3,600 shares of the stock in a transaction that occurred on Tuesday, September 26th. The stock was sold at an average price of $18.51, for a total value of $66,636.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 969,534 shares of company stock valued at $18,204,431. Company insiders own 20.59% of the company’s stock.
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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