Cornerstone Capital Management Holdings LLC. Buys New Stake in Box, Inc. (BOX)

Cornerstone Capital Management Holdings LLC. bought a new position in Box, Inc. (NYSE:BOX) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 76,300 shares of the software maker’s stock, valued at approximately $1,473,000. Cornerstone Capital Management Holdings LLC. owned 0.06% of BOX at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of BOX. Russell Investments Group Ltd. boosted its holdings in BOX by 114.4% in the second quarter. Russell Investments Group Ltd. now owns 46,385 shares of the software maker’s stock valued at $846,000 after purchasing an additional 24,747 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in BOX by 42.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 314,254 shares of the software maker’s stock valued at $5,732,000 after purchasing an additional 92,913 shares during the last quarter. Rhumbline Advisers boosted its holdings in BOX by 65.9% in the second quarter. Rhumbline Advisers now owns 86,907 shares of the software maker’s stock valued at $1,585,000 after purchasing an additional 34,530 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in BOX by 32.8% in the second quarter. Bank of New York Mellon Corp now owns 335,777 shares of the software maker’s stock valued at $6,125,000 after purchasing an additional 83,025 shares during the last quarter. Finally, Legal & General Group Plc boosted its holdings in BOX by 68.2% in the second quarter. Legal & General Group Plc now owns 19,744 shares of the software maker’s stock valued at $362,000 after purchasing an additional 8,007 shares during the last quarter. 62.23% of the stock is owned by institutional investors.

Shares of Box, Inc. (NYSE BOX) opened at $20.64 on Friday. Box, Inc. has a 1 year low of $13.56 and a 1 year high of $24.10. The company has a debt-to-equity ratio of 2.53, a current ratio of 1.00 and a quick ratio of 1.00.

BOX (NYSE:BOX) last posted its earnings results on Wednesday, November 29th. The software maker reported ($0.13) EPS for the quarter, meeting the consensus estimate of ($0.13). BOX had a negative return on equity of 313.90% and a negative net margin of 33.20%. The firm had revenue of $129.30 million for the quarter, compared to analysts’ expectations of $128.67 million. During the same period last year, the firm earned ($0.14) EPS. The firm’s revenue was up 25.8% compared to the same quarter last year. sell-side analysts predict that Box, Inc. will post -1.17 EPS for the current year.

A number of research firms have commented on BOX. Drexel Hamilton reaffirmed a “buy” rating and set a $28.00 target price on shares of BOX in a report on Monday, November 27th. JMP Securities increased their target price on BOX to $25.00 and gave the stock an “outperform” rating in a report on Thursday, November 30th. Vetr raised BOX from a “buy” rating to a “strong-buy” rating and set a $25.42 target price on the stock in a report on Wednesday, November 29th. Oppenheimer reaffirmed a “buy” rating and set a $24.00 target price on shares of BOX in a report on Thursday, November 30th. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $25.00 target price on shares of BOX in a report on Thursday, November 30th. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $24.24.

In related news, Director Rory O’driscoll sold 184,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 19th. The stock was sold at an average price of $20.97, for a total value of $3,858,480.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Jeff Mannie sold 6,145 shares of the firm’s stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $19.00, for a total value of $116,755.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,956,255 shares of company stock worth $39,891,543. 22.30% of the stock is owned by insiders.

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About BOX

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.

Institutional Ownership by Quarter for BOX (NYSE:BOX)

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