Metropolitan Life Insurance Co. NY maintained its position in Box, Inc. (NYSE:BOX) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 35,294 shares of the software maker’s stock at the end of the first quarter. Metropolitan Life Insurance Co. NY’s holdings in Box were worth $576,000 as of its most recent filing with the SEC.
Other institutional investors have also added to or reduced their stakes in the company. Advisory Services Network LLC purchased a new position in Box during the first quarter valued at approximately $142,000. Two Sigma Securities LLC purchased a new position in Box during the first quarter valued at approximately $177,000. Stifel Financial Corp purchased a new position in Box during the first quarter valued at approximately $222,000. Jane Street Group LLC purchased a new position in Box during the first quarter valued at approximately $248,000. Finally, Russell Investments Group Ltd. purchased a new position in Box during the fourth quarter valued at approximately $215,000. 36.59% of the stock is currently owned by institutional investors and hedge funds.
Shares of Box, Inc. (BOX) traded up 0.86% during midday trading on Friday, hitting $18.75. 768,852 shares of the company traded hands. Box, Inc. has a 52 week low of $12.61 and a 52 week high of $20.91. The stock’s market capitalization is $2.47 billion. The stock has a 50 day moving average of $18.82 and a 200-day moving average of $17.97.
Box (NYSE:BOX) last posted its quarterly earnings data on Wednesday, May 31st. The software maker reported ($0.13) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.14) by $0.01. The company had revenue of $117.20 million for the quarter, compared to analysts’ expectations of $114.70 million. Box had a negative net margin of 36.01% and a negative return on equity of 187.98%. Box’s revenue for the quarter was up 29.9% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.18) earnings per share. Equities analysts forecast that Box, Inc. will post ($0.46) earnings per share for the current fiscal year.
BOX has been the topic of several recent analyst reports. Pacific Crest reissued an “overweight” rating and issued a $25.00 target price on shares of Box in a report on Wednesday, May 31st. Mitsubishi UFJ Financial Group raised shares of Box from a “neutral” rating to an “overweight” rating and raised their target price for the company from $17.50 to $23.00 in a report on Thursday, June 1st. Canaccord Genuity reissued a “buy” rating and issued a $24.00 target price (up from $22.00) on shares of Box in a report on Thursday, June 1st. Wells Fargo & Company reissued an “outperform” rating and issued a $27.00 target price (up from $24.00) on shares of Box in a report on Thursday, June 1st. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $17.00 target price (up from $15.00) on shares of Box in a report on Thursday, June 1st. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $22.24.
In other Box news, insider Daniel J. Levin sold 50,000 shares of the stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $20.00, for a total transaction of $1,000,000.00. Following the transaction, the insider now directly owns 3,752 shares in the company, valued at $75,040. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Daniel J. Levin sold 40,000 shares of the stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $18.28, for a total transaction of $731,200.00. Following the transaction, the chief operating officer now owns 3,752 shares in the company, valued at $68,586.56. The disclosure for this sale can be found here. Insiders have sold 1,748,934 shares of company stock worth $32,700,266 over the last quarter. Company insiders own 22.30% of the company’s stock.
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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