Allspring Global Investments Holdings LLC grew its stake in shares of Box, Inc. (NYSE:BOX – Free Report) by 8.8% in the second quarter, HoldingsChannel reports. The fund owned 64,534 shares of the software maker’s stock after buying an additional 5,236 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in BOX were worth $1,896,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Fairfield Bush & CO. purchased a new position in BOX in the 1st quarter worth approximately $29,000. Altshuler Shaham Ltd acquired a new stake in shares of BOX in the first quarter valued at $30,000. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in shares of BOX by 102.8% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,304 shares of the software maker’s stock valued at $34,000 after purchasing an additional 661 shares during the last quarter. Quarry LP raised its position in BOX by 318.2% during the first quarter. Quarry LP now owns 1,330 shares of the software maker’s stock valued at $36,000 after buying an additional 1,012 shares during the period. Finally, Spire Wealth Management increased its position in BOX by 71.5% in the 1st quarter. Spire Wealth Management now owns 1,887 shares of the software maker’s stock worth $51,000 after purchasing an additional 787 shares during the last quarter. Institutional investors and hedge funds own 87.90% of the company’s stock.
Wall Street Analysts Forecast Growth
BOX has been the subject of several recent analyst reports. StockNews.com upgraded BOX from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 13th. JMP Securities reiterated a “market outperform” rating and set a $32.00 target price on shares of BOX in a report on Wednesday, August 30th. Morgan Stanley decreased their price target on shares of BOX from $37.00 to $35.00 and set an “overweight” rating for the company in a research note on Wednesday, August 30th. Craig Hallum downgraded shares of BOX from a “buy” rating to a “hold” rating in a report on Wednesday, August 30th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of BOX from $34.00 to $33.00 and set an “overweight” rating for the company in a research note on Wednesday, August 30th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $32.25.
In related news, VP Eli Berkovitch sold 5,000 shares of BOX stock in a transaction on Friday, October 6th. The shares were sold at an average price of $25.39, for a total value of $126,950.00. Following the transaction, the vice president now directly owns 147,290 shares in the company, valued at approximately $3,739,693.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other BOX news, VP Eli Berkovitch sold 5,000 shares of the business’s stock in a transaction on Friday, October 6th. The shares were sold at an average price of $25.39, for a total transaction of $126,950.00. Following the sale, the vice president now directly owns 147,290 shares in the company, valued at approximately $3,739,693.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Dylan C. Smith sold 13,000 shares of the business’s stock in a transaction on Tuesday, October 10th. The stock was sold at an average price of $25.46, for a total transaction of $330,980.00. Following the sale, the chief financial officer now owns 1,477,437 shares in the company, valued at $37,615,546.02. The disclosure for this sale can be found here. Insiders have sold 54,000 shares of company stock valued at $1,449,820 in the last ninety days. 4.90% of the stock is currently owned by company insiders.
BOX Stock Down 1.2 %
Shares of NYSE BOX opened at $24.91 on Tuesday. Box, Inc. has a 52 week low of $23.57 and a 52 week high of $34.98. The stock has a market capitalization of $3.59 billion, a price-to-earnings ratio of 131.08, a price-to-earnings-growth ratio of 14.13 and a beta of 0.95. The firm has a 50-day simple moving average of $25.15 and a 200-day simple moving average of $27.64.
BOX (NYSE:BOX – Get Free Report) last announced its earnings results on Tuesday, August 29th. The software maker reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.01. BOX had a net margin of 4.86% and a negative return on equity of 6.51%. The company had revenue of $261.43 million during the quarter, compared to analyst estimates of $261.32 million. During the same quarter last year, the firm posted ($0.05) earnings per share. BOX’s revenue was up 6.3% compared to the same quarter last year. As a group, equities research analysts expect that Box, Inc. will post 0.09 EPS for the current year.
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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