Swiss National Bank cut its stake in shares of Box, Inc. (NYSE:BOX – Get Rating) by 2.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 349,300 shares of the software maker’s stock after selling 9,100 shares during the period. Swiss National Bank owned 0.24% of BOX worth $8,781,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Fairfield Bush & CO. purchased a new stake in BOX during the first quarter valued at approximately $29,000. Harbor Investment Advisory LLC raised its position in BOX by 61.0% during the second quarter. Harbor Investment Advisory LLC now owns 1,275 shares of the software maker’s stock valued at $32,000 after purchasing an additional 483 shares during the period. Trust Co. of Vermont purchased a new stake in BOX during the second quarter valued at approximately $40,000. Signaturefd LLC raised its position in BOX by 33.9% during the first quarter. Signaturefd LLC now owns 1,422 shares of the software maker’s stock valued at $41,000 after purchasing an additional 360 shares during the period. Finally, SeaCrest Wealth Management LLC purchased a new stake in BOX during the second quarter valued at approximately $67,000. 86.00% of the stock is currently owned by hedge funds and other institutional investors.
BOX Stock Down 1.1 %
Shares of NYSE:BOX opened at $28.22 on Tuesday. Box, Inc. has a 52-week low of $22.31 and a 52-week high of $33.04. The stock has a market cap of $4.02 billion, a P/E ratio of -108.54 and a beta of 1.16. The business’s 50 day moving average is $27.10 and its 200 day moving average is $27.20.
Analysts Set New Price Targets
Several brokerages have recently weighed in on BOX. Credit Suisse Group began coverage on BOX in a report on Monday. They issued an “outperform” rating on the stock. StockNews.com began coverage on BOX in a report on Wednesday, October 12th. They issued a “strong-buy” rating on the stock. Citigroup began coverage on BOX in a report on Thursday, September 1st. They issued a “buy” rating and a $34.00 price target on the stock. Raymond James increased their price target on BOX from $30.00 to $35.00 in a report on Thursday, August 25th. Finally, KeyCorp began coverage on BOX in a report on Monday, September 12th. They issued an “overweight” rating and a $34.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.78.
Insider Buying and Selling at BOX
In other BOX news, CFO Dylan C. Smith sold 13,000 shares of the stock in a transaction on Friday, September 9th. The stock was sold at an average price of $26.86, for a total transaction of $349,180.00. Following the sale, the chief financial officer now owns 1,369,137 shares of the company’s stock, valued at approximately $36,775,019.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last 90 days, insiders have sold 39,000 shares of company stock valued at $1,058,720. 5.20% of the stock is currently owned by corporate insiders.
BOX Company Profile
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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