Box, Inc. (NYSE:BOX) CFO Dylan C. Smith sold 13,000 shares of Box stock in a transaction on Tuesday, October 10th. The shares were sold at an average price of $19.06, for a total value of $247,780.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Box (NYSE:BOX) last announced its quarterly earnings results on Wednesday, August 30th. The software maker reported ($0.11) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.13) by $0.02. Box had a negative return on equity of 232.81% and a negative net margin of 34.11%. The company had revenue of $122.94 million during the quarter, compared to analysts’ expectations of $121.75 million. During the same period in the prior year, the company earned ($0.14) EPS. Box’s revenue was up 28.4% compared to the same quarter last year.
BOX has been the subject of several research analyst reports. Canaccord Genuity reiterated a “buy” rating and issued a $24.00 price objective on shares of Box in a research report on Friday, October 6th. Rosenblatt Securities reiterated a “buy” rating and issued a $25.00 price objective on shares of Box in a research report on Monday, July 17th. Drexel Hamilton reiterated a “buy” rating and issued a $28.00 price objective on shares of Box in a research report on Tuesday, June 27th. BidaskClub raised Box from a “hold” rating to a “buy” rating in a research note on Wednesday, August 23rd. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $17.00 target price on shares of Box in a research note on Wednesday, August 16th. Three analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $23.32.
A number of large investors have recently made changes to their positions in BOX. Vanguard Group Inc. raised its position in Box by 79.0% during the 2nd quarter. Vanguard Group Inc. now owns 7,977,960 shares of the software maker’s stock worth $145,518,000 after purchasing an additional 3,521,030 shares during the last quarter. Wells Fargo & Company MN raised its position in Box by 3,627.5% during the 2nd quarter. Wells Fargo & Company MN now owns 3,462,849 shares of the software maker’s stock worth $63,162,000 after purchasing an additional 3,369,948 shares during the last quarter. Whale Rock Capital Management LLC bought a new position in Box during the 2nd quarter worth $32,382,000. JPMorgan Chase & Co. raised its position in Box by 3,041.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,366,608 shares of the software maker’s stock worth $24,927,000 after purchasing an additional 1,323,099 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in Box by 453.9% during the 1st quarter. Renaissance Technologies LLC now owns 1,544,400 shares of the software maker’s stock worth $25,189,000 after purchasing an additional 1,265,600 shares during the last quarter. 57.37% of the stock is owned by institutional investors and hedge funds.
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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