Allianz Asset Management GmbH lifted its stake in Box, Inc. (NYSE:BOX) by 29.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 63,274 shares of the software maker’s stock after buying an additional 14,269 shares during the quarter. Allianz Asset Management GmbH’s holdings in BOX were worth $1,222,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. raised its stake in BOX by 81.3% during the second quarter. Ameritas Investment Partners Inc. now owns 6,896 shares of the software maker’s stock valued at $126,000 after purchasing an additional 3,092 shares in the last quarter. Hillsdale Investment Management Inc. purchased a new stake in BOX during the second quarter valued at $155,000. BNP Paribas Arbitrage SA raised its stake in BOX by 843.7% during the second quarter. BNP Paribas Arbitrage SA now owns 9,786 shares of the software maker’s stock valued at $178,000 after purchasing an additional 8,749 shares in the last quarter. StepStone Group LP purchased a new stake in BOX during the second quarter valued at $180,000. Finally, Amalgamated Bank purchased a new stake in BOX during the second quarter valued at $183,000. 62.20% of the stock is currently owned by hedge funds and other institutional investors.
Box, Inc. (NYSE BOX) opened at $21.10 on Thursday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 2.53. The company has a market cap of $2,870.00 and a PE ratio of -17.58. Box, Inc. has a 1-year low of $13.67 and a 1-year high of $24.10.
In other BOX news, CFO Dylan C. Smith sold 13,000 shares of the stock in a transaction dated Tuesday, October 10th. The shares were sold at an average price of $19.06, for a total transaction of $247,780.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Rory O’driscoll sold 224,000 shares of the stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $19.22, for a total transaction of $4,305,280.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,831,309 shares of company stock worth $37,570,022. 20.59% of the stock is owned by company insiders.
BOX has been the topic of a number of recent research reports. Rosenblatt Securities reaffirmed a “buy” rating and set a $25.00 price target on shares of BOX in a research note on Friday, September 1st. Oppenheimer reissued a “buy” rating and issued a $24.00 target price on shares of BOX in a research note on Thursday, November 30th. Drexel Hamilton reissued a “buy” rating and issued a $28.00 target price on shares of BOX in a research note on Monday, November 27th. Canaccord Genuity increased their target price on shares of BOX from $24.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, October 13th. Finally, Raymond James Financial raised shares of BOX from a “market perform” rating to an “outperform” rating and set a $26.00 target price on the stock in a research note on Monday, September 25th. Three investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $24.24.
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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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