Box Inc. (BOX) Position Raised by Bank of New York Mellon Corp
Bank of New York Mellon Corp increased its stake in shares of Box Inc. (NYSE:BOX) by 93.6% during the second quarter, Holdings Channel reports. The fund owned 158,830 shares of the company’s stock after buying an additional 76,779 shares during the period. Bank of New York Mellon Corp owned 0.13% of Box worth $1,642,000 as of its most recent filing with the SEC.
Several other large investors also recently added to or reduced their stakes in BOX. potrero capital research llc bought a new stake in Box during the first quarter valued at about $2,868,000. Stoneridge Investment Partners LLC bought a new stake in Box during the second quarter valued at about $676,000. UBS Group AG boosted its stake in Box by 47.4% in the first quarter. UBS Group AG now owns 119,870 shares of the company’s stock valued at $1,470,000 after buying an additional 38,558 shares during the last quarter. State Street Corp boosted its stake in Box by 10.7% in the first quarter. State Street Corp now owns 231,330 shares of the company’s stock valued at $2,836,000 after buying an additional 22,315 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Box by 8.4% in the first quarter. Geode Capital Management LLC now owns 206,871 shares of the company’s stock valued at $2,536,000 after buying an additional 16,114 shares during the last quarter. Hedge funds and other institutional investors own 26.87% of the company’s stock.
Box Inc. (NYSE:BOX) traded down 0.82% during mid-day trading on Friday, reaching $15.74. 1,173,845 shares of the company were exchanged. Box Inc. has a 1-year low of $8.82 and a 1-year high of $16.59. The stock’s 50-day moving average price is $14.44 and its 200-day moving average price is $12.45. The stock’s market capitalization is $2.00 billion.
Box (NYSE:BOX) last announced its quarterly earnings data on Wednesday, August 31st. The company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.05. The company had revenue of $95.70 million for the quarter, compared to analyst estimates of $94.65 million. Box had a negative return on equity of 133.73% and a negative net margin of 52.12%. The firm’s revenue for the quarter was up 30.2% on a year-over-year basis. During the same quarter last year, the firm posted ($0.28) EPS. On average, equities research analysts anticipate that Box Inc. will post ($0.68) EPS for the current fiscal year.
BOX has been the topic of several research reports. Vetr upgraded shares of Box from a “hold” rating to a “strong-buy” rating and set a $16.50 price target on the stock in a research report on Monday, September 5th. Zacks Investment Research cut shares of Box from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 16th. Bank of America Corp. restated a “buy” rating and issued a $18.00 price target on shares of Box in a research report on Monday, August 22nd. Veritas Investment Research restated a “strong-buy” rating on shares of Box in a research report on Friday, August 5th. Finally, Pacific Crest restated a “buy” rating and issued a $21.00 price target on shares of Box in a research report on Friday, September 30th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $17.90.
In other Box news, COO Daniel J. Levin sold 5,000 shares of the firm’s stock in a transaction on Tuesday, September 13th. The stock was sold at an average price of $14.44, for a total value of $72,200.00. Following the transaction, the chief operating officer now owns 3,079 shares in the company, valued at approximately $44,460.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Jeff Mannie sold 3,756 shares of the firm’s stock in a transaction on Monday, September 26th. The shares were sold at an average price of $14.67, for a total value of $55,100.52. The disclosure for this sale can be found here. 22.30% of the stock is owned by company insiders.
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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