Bp Plc Buys New Stake in Box, Inc. (NYSE:BOX)

Bp Plc bought a new position in Box, Inc. (NYSE:BOX) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 61,896 shares of the software maker’s stock, valued at approximately $1,128,000.

Other hedge funds have also added to or reduced their stakes in the company. Creative Planning raised its stake in Box by 0.4% in the first quarter. Creative Planning now owns 41,680 shares of the software maker’s stock worth $680,000 after buying an additional 180 shares during the last quarter. Capital One National Association raised its stake in Box by 1.3% in the first quarter. Capital One National Association now owns 24,481 shares of the software maker’s stock worth $399,000 after buying an additional 309 shares during the last quarter. Essex Investment Management Co. LLC raised its stake in Box by 0.8% in the second quarter. Essex Investment Management Co. LLC now owns 75,775 shares of the software maker’s stock worth $1,382,000 after buying an additional 628 shares during the last quarter. American International Group Inc. raised its stake in Box by 7.1% in the first quarter. American International Group Inc. now owns 30,063 shares of the software maker’s stock worth $490,000 after buying an additional 1,991 shares during the last quarter. Finally, Lyell Wealth Management LP raised its stake in Box by 11.2% in the first quarter. Lyell Wealth Management LP now owns 32,615 shares of the software maker’s stock worth $532,000 after buying an additional 3,283 shares during the last quarter. Institutional investors and hedge funds own 38.18% of the company’s stock.

Box, Inc. (NYSE:BOX) opened at 18.23 on Friday. Box, Inc. has a 52 week low of $12.26 and a 52 week high of $20.91. The stock’s market cap is $2.40 billion. The stock’s 50 day moving average price is $18.85 and its 200 day moving average price is $17.92.

Box (NYSE:BOX) last posted its earnings results on Wednesday, May 31st. The software maker reported ($0.13) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.14) by $0.01. Box had a negative return on equity of 187.98% and a negative net margin of 36.01%. The firm had revenue of $117.20 million for the quarter, compared to analyst estimates of $114.70 million. During the same quarter in the prior year, the company earned ($0.18) EPS. Box’s revenue was up 29.9% on a year-over-year basis. On average, analysts forecast that Box, Inc. will post ($0.46) earnings per share for the current year.

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A number of research firms have weighed in on BOX. Drexel Hamilton reiterated a “buy” rating and issued a $28.00 target price (up previously from $26.00) on shares of Box in a research note on Thursday, June 1st. Bank of America Corporation reiterated a “buy” rating and issued a $22.00 target price (up previously from $21.00) on shares of Box in a research note on Friday, June 2nd. Stifel Nicolaus reiterated a “hold” rating and issued a $17.00 target price (up previously from $15.00) on shares of Box in a research note on Thursday, June 1st. Wells Fargo & Company reiterated an “outperform” rating and issued a $27.00 target price (up previously from $24.00) on shares of Box in a research note on Thursday, June 1st. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $24.00 target price (up previously from $22.00) on shares of Box in a research note on Thursday, June 1st. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $22.24.

In related news, COO Daniel J. Levin sold 40,000 shares of the stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $18.46, for a total transaction of $738,400.00. Following the transaction, the chief operating officer now owns 3,752 shares of the company’s stock, valued at approximately $69,261.92. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Daniel J. Levin sold 50,000 shares of the stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $20.00, for a total value of $1,000,000.00. Following the transaction, the insider now directly owns 3,752 shares in the company, valued at approximately $75,040. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,768,934 shares of company stock worth $33,066,666. 22.30% of the stock is owned by corporate insiders.

Box Company Profile

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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Institutional Ownership by Quarter for Box (NYSE:BOX)

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