Stoneridge Investment Partners LLC Acquires New Stake in Box, Inc. (BOX)
Stoneridge Investment Partners LLC acquired a new stake in Box, Inc. (NYSE:BOX) during the second quarter, Holdings Channel reports. The fund acquired 25,766 shares of the software maker’s stock, valued at approximately $470,000.
Several other large investors have also recently bought and sold shares of BOX. Advisory Services Network LLC purchased a new stake in Box during the first quarter valued at $142,000. Two Sigma Securities LLC purchased a new stake in Box during the first quarter valued at $177,000. Russell Investments Group Ltd. purchased a new stake in Box during the fourth quarter valued at $215,000. Stifel Financial Corp purchased a new stake in Box during the first quarter valued at $222,000. Finally, Jane Street Group LLC purchased a new stake in Box during the first quarter valued at $248,000. Institutional investors own 38.18% of the company’s stock.
Box, Inc. (BOX) opened at 17.90 on Friday. The company’s market capitalization is $2.35 billion. The firm has a 50 day moving average of $18.87 and a 200-day moving average of $17.91. Box, Inc. has a 1-year low of $12.26 and a 1-year high of $20.91.
Box (NYSE:BOX) last released its earnings results on Wednesday, May 31st. The software maker reported ($0.13) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.14) by $0.01. The firm had revenue of $117.20 million for the quarter, compared to the consensus estimate of $114.70 million. Box had a negative net margin of 36.01% and a negative return on equity of 187.98%. The company’s revenue was up 29.9% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.18) EPS. On average, equities research analysts anticipate that Box, Inc. will post ($0.46) earnings per share for the current fiscal year.
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Several brokerages recently issued reports on BOX. Drexel Hamilton reissued a “buy” rating and set a $28.00 target price (up from $26.00) on shares of Box in a research note on Thursday, June 1st. Canaccord Genuity reissued a “buy” rating and set a $24.00 target price (up from $22.00) on shares of Box in a research note on Thursday, June 1st. Bank of America Corporation reissued a “buy” rating and set a $22.00 target price (up from $21.00) on shares of Box in a research note on Friday, June 2nd. Rosenblatt Securities reissued a “buy” rating and set a $25.00 target price on shares of Box in a research note on Monday, July 17th. Finally, Pacific Crest reissued an “overweight” rating and set a $25.00 target price on shares of Box in a research note on Wednesday, May 31st. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $22.24.
In related news, Director Rory O’driscoll sold 671,186 shares of the company’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $18.48, for a total value of $12,403,517.28. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Daniel J. Levin sold 50,000 shares of the company’s stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $20.00, for a total transaction of $1,000,000.00. Following the completion of the transaction, the insider now owns 3,752 shares in the company, valued at approximately $75,040. The disclosure for this sale can be found here. Insiders sold a total of 1,768,934 shares of company stock worth $33,066,666 over the last ninety days. Insiders own 22.30% of the company’s stock.
Box Company Profile
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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