Marcus Capital LLC Has $3.22 Million Holdings in Box, Inc. (BOX)
Marcus Capital LLC grew its position in shares of Box, Inc. (NYSE:BOX) by 0.2% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 176,750 shares of the software maker’s stock after purchasing an additional 400 shares during the quarter. Box comprises approximately 2.8% of Marcus Capital LLC’s investment portfolio, making the stock its 11th largest position. Marcus Capital LLC owned approximately 0.13% of Box worth $3,224,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in the business. Capital Fund Management S.A. bought a new position in Box during the 2nd quarter worth approximately $847,000. Alliancebernstein L.P. raised its holdings in Box by 47.8% during the 2nd quarter. Alliancebernstein L.P. now owns 130,400 shares of the software maker’s stock worth $2,378,000 after purchasing an additional 42,200 shares during the last quarter. Wells Fargo & Company MN raised its holdings in Box by 3,627.5% during the 2nd quarter. Wells Fargo & Company MN now owns 3,462,849 shares of the software maker’s stock worth $63,162,000 after purchasing an additional 3,369,948 shares during the last quarter. Engineers Gate Manager LP raised its holdings in Box by 185.0% during the 2nd quarter. Engineers Gate Manager LP now owns 304,540 shares of the software maker’s stock worth $5,555,000 after purchasing an additional 197,700 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Box by 3,041.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,366,608 shares of the software maker’s stock worth $24,927,000 after purchasing an additional 1,323,099 shares during the last quarter. Hedge funds and other institutional investors own 57.81% of the company’s stock.
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Shares of Box, Inc. (NYSE BOX) traded down 1.54% during mid-day trading on Friday, hitting $17.89. 1,164,643 shares of the stock traded hands. The stock’s market cap is $2.35 billion. Box, Inc. has a 52 week low of $13.50 and a 52 week high of $20.91. The firm’s 50-day moving average is $19.00 and its 200-day moving average is $18.09.
Box (NYSE:BOX) last announced its earnings results on Wednesday, August 30th. The software maker reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.02. The company had revenue of $122.94 million during the quarter, compared to the consensus estimate of $121.75 million. Box had a negative return on equity of 207.36% and a negative net margin of 34.11%. The firm’s revenue for the quarter was up 28.4% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.14) earnings per share. On average, analysts forecast that Box, Inc. will post ($0.45) earnings per share for the current year.
BOX has been the subject of several analyst reports. Rosenblatt Securities restated a “buy” rating and set a $25.00 price target on shares of Box in a report on Monday, July 17th. Drexel Hamilton restated a “buy” rating and set a $28.00 price target on shares of Box in a report on Tuesday, June 27th. Canaccord Genuity restated a “buy” rating and set a $24.00 price target (up previously from $22.00) on shares of Box in a report on Thursday, June 1st. Bank of America Corporation restated a “buy” rating and set a $22.00 price target (up previously from $21.00) on shares of Box in a report on Friday, June 2nd. Finally, BidaskClub upgraded shares of Box from a “hold” rating to a “buy” rating in a report on Wednesday, August 23rd. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $22.40.
In related news, major shareholder Fisher Jurvetson Fund V. Draper sold 320,000 shares of the company’s stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $18.07, for a total value of $5,782,400.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, President Daniel J. Levin sold 57,444 shares of the company’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $18.43, for a total value of $1,058,692.92. Following the completion of the sale, the president now directly owns 3,752 shares in the company, valued at $69,149.36. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,806,378 shares of company stock valued at $33,758,959. 22.30% of the stock is owned by corporate insiders.
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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