BOX (NYSE:BOX) Reaches New 52-Week High Following Strong Earnings

Shares of Box, Inc. (NYSE:BOX) reached a new 52-week high during mid-day trading on Wednesday following a stronger than expected earnings report. The company traded as high as $32.14 and last traded at $31.81, with a volume of 3053425 shares trading hands. The stock had previously closed at $28.82.

The software maker reported $0.44 EPS for the quarter, beating the consensus estimate of $0.40 by $0.04. BOX had a net margin of 13.13% and a negative return on equity of 11.71%. The business had revenue of $270.04 million during the quarter, compared to analyst estimates of $269.52 million. During the same quarter in the previous year, the business posted $0.01 EPS. The company’s quarterly revenue was up 3.3% compared to the same quarter last year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on BOX shares. StockNews.com upgraded shares of BOX from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 15th. Oppenheimer reiterated an “outperform” rating and set a $35.00 price objective on shares of BOX in a research note on Wednesday, May 29th. Monness Crespi & Hardt upgraded shares of BOX to a “hold” rating in a research note on Friday, August 16th. Royal Bank of Canada restated an “underperform” rating and issued a $21.00 target price on shares of BOX in a research note on Wednesday. Finally, Morgan Stanley lowered their target price on shares of BOX from $32.00 to $30.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 29th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $30.89.

Insiders Place Their Bets

In related news, CFO Dylan C. Smith sold 13,000 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $27.05, for a total transaction of $351,650.00. Following the completion of the transaction, the chief financial officer now owns 1,513,661 shares of the company’s stock, valued at $40,944,530.05. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other BOX news, VP Eli Berkovitch sold 3,300 shares of BOX stock in a transaction on Friday, June 14th. The shares were sold at an average price of $25.90, for a total value of $85,470.00. Following the completion of the transaction, the vice president now owns 152,372 shares of the company’s stock, valued at $3,946,434.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Dylan C. Smith sold 13,000 shares of BOX stock in a transaction on Friday, August 9th. The shares were sold at an average price of $27.05, for a total transaction of $351,650.00. Following the completion of the transaction, the chief financial officer now directly owns 1,513,661 shares of the company’s stock, valued at approximately $40,944,530.05. The disclosure for this sale can be found here. Over the last quarter, insiders sold 59,560 shares of company stock valued at $1,556,440. Insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quarry LP increased its holdings in BOX by 324.6% in the second quarter. Quarry LP now owns 1,418 shares of the software maker’s stock valued at $37,000 after buying an additional 1,084 shares in the last quarter. TFO Wealth Partners LLC grew its position in shares of BOX by 62,000.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,863 shares of the software maker’s stock valued at $48,000 after purchasing an additional 1,860 shares during the period. a16z Perennial Management L.P. acquired a new stake in shares of BOX in the fourth quarter valued at about $48,000. Toronto Dominion Bank acquired a new stake in shares of BOX in the second quarter valued at about $53,000. Finally, Nisa Investment Advisors LLC grew its position in shares of BOX by 31.7% in the second quarter. Nisa Investment Advisors LLC now owns 2,627 shares of the software maker’s stock valued at $69,000 after purchasing an additional 632 shares during the period. Hedge funds and other institutional investors own 86.74% of the company’s stock.

BOX Stock Up 10.8 %

The company’s 50-day moving average price is $27.05 and its 200-day moving average price is $27.04. The firm has a market cap of $4.61 billion, a price-to-earnings ratio of 43.73 and a beta of 0.86.

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 work with their content as they need from secure external collaboration and sharing, workspaces and portals, e-signature processes, and content workflows improving employee productivity and accelerating business processes.