Lazard Asset Management LLC Boosts Stake in Box, Inc. (NYSE:BOX)

Lazard Asset Management LLC increased its position in Box, Inc. (NYSE:BOXGet Rating) by 1,039.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,242 shares of the software maker’s stock after buying an additional 8,431 shares during the period. Lazard Asset Management LLC’s holdings in BOX were worth $232,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in BOX. Fairfield Bush & CO. purchased a new stake in BOX during the first quarter valued at approximately $29,000. Harbor Investment Advisory LLC raised its position in BOX by 61.0% during the second quarter. Harbor Investment Advisory LLC now owns 1,275 shares of the software maker’s stock valued at $32,000 after purchasing an additional 483 shares during the period. Signaturefd LLC raised its position in BOX by 33.9% during the first quarter. Signaturefd LLC now owns 1,422 shares of the software maker’s stock valued at $41,000 after purchasing an additional 360 shares during the period. Trust Co. of Vermont purchased a new stake in BOX during the second quarter valued at approximately $40,000. Finally, Nisa Investment Advisors LLC raised its position in BOX by 32.2% during the first quarter. Nisa Investment Advisors LLC now owns 4,350 shares of the software maker’s stock valued at $126,000 after purchasing an additional 1,060 shares during the period. 86.00% of the stock is currently owned by hedge funds and other institutional investors.

BOX Stock Up 0.9 %

Shares of NYSE:BOX opened at $28.54 on Monday. Box, Inc. has a 52-week low of $22.31 and a 52-week high of $33.04. The stock has a market cap of $4.06 billion, a P/E ratio of -109.77 and a beta of 1.16. The business’s 50 day moving average is $27.09 and its 200 day moving average is $27.22.

BOX (NYSE:BOXGet Rating) last announced its quarterly earnings data on Wednesday, August 24th. The software maker reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.02). The company had revenue of $246.00 million during the quarter, compared to the consensus estimate of $245.77 million. During the same quarter in the prior year, the business posted ($0.06) earnings per share. The firm’s quarterly revenue was up 14.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Box, Inc. will post -0.15 EPS for the current fiscal year.

Analyst Ratings Changes

BOX has been the topic of a number of recent research reports. Morgan Stanley upgraded BOX from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $32.00 to $34.00 in a research report on Monday, October 3rd. They noted that the move was a valuation call. KeyCorp initiated coverage on BOX in a research note on Monday, September 12th. They set an “overweight” rating and a $34.00 target price on the stock. Raymond James upped their target price on BOX from $30.00 to $35.00 in a research note on Thursday, August 25th. StockNews.com initiated coverage on BOX in a research note on Wednesday, October 12th. They set a “strong-buy” rating on the stock. Finally, Citigroup initiated coverage on BOX in a research note on Thursday, September 1st. They set a “buy” rating and a $34.00 target price on the stock. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $32.78.

Insider Buying and Selling

In related news, CFO Dylan C. Smith sold 13,000 shares of the stock in a transaction that occurred on Monday, October 10th. The stock was sold at an average price of $26.48, for a total value of $344,240.00. Following the transaction, the chief financial officer now owns 1,342,082 shares of the company’s stock, valued at $35,538,331.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 39,000 shares of company stock valued at $1,058,720 over the last quarter. 5.20% of the stock is owned by corporate insiders.

BOX Profile

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Box, Inc provides a cloud content management platform that enables organizations of various sizes to manage and share their content from anywhere on 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 to comply with legal and regulatory requirements, internal policies, and industry standards and regulations.

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Institutional Ownership by Quarter for BOX (NYSE:BOX)

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