Moors & Cabot Inc. purchased a new position in shares of Box, Inc. (NYSE:BOX – Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 6,890 shares of the software maker’s stock, valued at approximately $202,000.
Other institutional investors also recently modified their holdings of the company. Fairfield Bush & CO. acquired a new position in shares of BOX during the 1st quarter worth $29,000. Altshuler Shaham Ltd bought a new stake in BOX during the 1st quarter worth $30,000. Quarry LP grew its position in BOX by 318.2% during the 1st quarter. Quarry LP now owns 1,330 shares of the software maker’s stock worth $36,000 after acquiring an additional 1,012 shares during the last quarter. Glass Jacobson Investment Advisors llc bought a new stake in BOX during the 2nd quarter worth $41,000. Finally, Spire Wealth Management grew its position in BOX by 71.5% during the 1st quarter. Spire Wealth Management now owns 1,887 shares of the software maker’s stock worth $51,000 after acquiring an additional 787 shares during the last quarter. Institutional investors and hedge funds own 87.90% of the company’s stock.
Insider Buying and Selling at BOX
In other news, CEO Aaron Levie sold 10,000 shares of the firm’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $25.70, for a total value of $257,000.00. Following the completion of the transaction, the chief executive officer now directly owns 3,068,653 shares of the company’s stock, valued at $78,864,382.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Dylan C. Smith sold 13,000 shares of the stock in a transaction on Monday, September 11th. The stock was sold at an average price of $25.88, for a total value of $336,440.00. Following the sale, the chief financial officer now owns 1,507,165 shares in the company, valued at $39,005,430.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Aaron Levie sold 10,000 shares of the stock in a transaction on Monday, September 11th. The stock was sold at an average price of $25.70, for a total value of $257,000.00. Following the completion of the sale, the chief executive officer now owns 3,068,653 shares in the company, valued at approximately $78,864,382.10. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 54,000 shares of company stock valued at $1,380,270. Company insiders own 4.90% of the company’s stock.
BOX Stock Up 1.2 %
BOX (NYSE:BOX – Get Free Report) last released its earnings results on Tuesday, August 29th. The software maker reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.01. BOX had a negative return on equity of 6.51% and a net margin of 4.86%. The company had revenue of $261.43 million during the quarter, compared to analyst estimates of $261.32 million. During the same period in the prior year, the company posted ($0.05) earnings per share. BOX’s quarterly revenue was up 6.3% on a year-over-year basis. On average, research analysts expect that Box, Inc. will post 0.09 earnings per share for the current year.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on BOX shares. Royal Bank of Canada restated an “underperform” rating and set a $21.00 price objective on shares of BOX in a research report on Thursday, October 12th. Craig Hallum lowered BOX from a “buy” rating to a “hold” rating in a research report on Wednesday, August 30th. Oppenheimer restated an “outperform” rating and set a $35.00 price objective on shares of BOX in a research report on Wednesday, August 30th. JMP Securities reiterated a “market outperform” rating and issued a $32.00 price target on shares of BOX in a research report on Wednesday, August 30th. Finally, StockNews.com upgraded BOX from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 13th. One research analyst has rated the stock with a sell rating, one has given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, BOX currently has a consensus rating of “Moderate Buy” and an average price target of $32.25.
Box, Inc provides a cloud content management platform that enables organizations of various sizes to manage and share their content from anywhere on 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 to comply with legal and regulatory requirements, internal policies, and industry standards and regulations.
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