Wells Fargo & Company MN boosted its holdings in shares of Box Inc (NYSE:BOX) by 4.6% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 515,527 shares of the software maker’s stock after buying an additional 22,805 shares during the quarter. Wells Fargo & Company MN’s holdings in BOX were worth $9,079,000 as of its most recent SEC filing.
A number of other large investors have also made changes to their positions in BOX. Metropolitan Life Insurance Co NY increased its holdings in shares of BOX by 4.5% in the first quarter. Metropolitan Life Insurance Co NY now owns 39,858 shares of the software maker’s stock valued at $769,000 after purchasing an additional 1,723 shares during the period. Janney Montgomery Scott LLC boosted its position in BOX by 6.5% during the first quarter. Janney Montgomery Scott LLC now owns 28,783 shares of the software maker’s stock worth $556,000 after purchasing an additional 1,745 shares in the last quarter. Valeo Financial Advisors LLC boosted its position in BOX by 756.3% during the second quarter. Valeo Financial Advisors LLC now owns 2,055 shares of the software maker’s stock worth $36,000 after purchasing an additional 1,815 shares in the last quarter. Parallel Advisors LLC boosted its position in BOX by 74.6% during the second quarter. Parallel Advisors LLC now owns 5,150 shares of the software maker’s stock worth $91,000 after purchasing an additional 2,200 shares in the last quarter. Finally, Truvestments Capital LLC purchased a new position in BOX during the second quarter worth approximately $52,000. 72.31% of the stock is currently owned by institutional investors.
In related news, Director Josh Stein sold 20,000 shares of the stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $18.19, for a total value of $363,800.00. Following the completion of the sale, the director now owns 3,699 shares of the company’s stock, valued at $67,284.81. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 6.70% of the stock is currently owned by company insiders.
Shares of NYSE:BOX traded up $0.06 during midday trading on Friday, hitting $17.70. The company had a trading volume of 40,196 shares, compared to its average volume of 3,573,248. Box Inc has a twelve month low of $12.46 and a twelve month high of $25.36. The company has a debt-to-equity ratio of 14.57, a current ratio of 0.80 and a quick ratio of 0.83. The stock has a market cap of $2.58 billion, a price-to-earnings ratio of -18.44 and a beta of 1.39. The business’s 50-day simple moving average is $15.08 and its 200-day simple moving average is $18.09.
BOX (NYSE:BOX) last posted its quarterly earnings results on Wednesday, August 28th. The software maker reported ($0.25) EPS for the quarter, beating the consensus estimate of ($0.26) by $0.01. BOX had a negative return on equity of 491.54% and a negative net margin of 20.29%. The firm had revenue of $172.50 million during the quarter, compared to analysts’ expectations of $169.49 million. During the same quarter last year, the firm earned ($0.05) earnings per share. The business’s revenue for the quarter was up 16.4% on a year-over-year basis. As a group, sell-side analysts forecast that Box Inc will post -1 EPS for the current year.
A number of equities analysts have issued reports on BOX shares. JMP Securities lowered their price target on BOX from $24.00 to $21.00 and set a “market outperform” rating on the stock in a research report on Tuesday, June 4th. DA Davidson lowered their price target on BOX from $19.00 to $17.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Raymond James lowered their price target on BOX from $21.00 to $18.00 and set an “outperform” rating on the stock in a research report on Thursday, August 29th. Morgan Stanley set a $17.00 price target on BOX and gave the stock a “hold” rating in a research report on Tuesday, June 4th. Finally, Canaccord Genuity downgraded BOX from a “buy” rating to a “hold” rating and lowered their price target for the stock from $24.00 to $16.00 in a research report on Tuesday, June 4th. Seven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. BOX presently has a consensus rating of “Buy” and a consensus price target of $19.40.
BOX Company Profile
Box, Inc provides a cloud content management platform that enables organizations of various sizes to manage and share their content from anywhere or any device. The company's Software-as-a-Service platform enables users to collaborate on content internally and with external parties, automate content-driven business processes, develop custom applications, and implement data protection, security, and compliance features.
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