Mackenzie Financial Corp Acquires 4,803 Shares of Box, Inc. (NYSE:BOX)

Mackenzie Financial Corp raised its stake in shares of Box, Inc. (NYSE:BOXGet Rating) by 31.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 20,001 shares of the software maker’s stock after buying an additional 4,803 shares during the period. Mackenzie Financial Corp’s holdings in BOX were worth $503,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in BOX. Fairfield Bush & CO. purchased a new stake in BOX during the 1st quarter valued at $29,000. Harbor Investment Advisory LLC raised its stake in BOX by 61.0% during the 2nd quarter. Harbor Investment Advisory LLC now owns 1,275 shares of the software maker’s stock valued at $32,000 after buying an additional 483 shares during the last quarter. Trust Co. of Vermont purchased a new stake in BOX during the 2nd quarter valued at $40,000. Signaturefd LLC raised its stake in BOX by 33.9% during the 1st quarter. Signaturefd LLC now owns 1,422 shares of the software maker’s stock valued at $41,000 after buying an additional 360 shares during the last quarter. Finally, SeaCrest Wealth Management LLC purchased a new stake in BOX during the 2nd quarter valued at $67,000. 86.00% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other BOX news, CFO Dylan C. Smith sold 13,000 shares of the stock in a transaction dated Monday, October 10th. The shares were sold at an average price of $26.48, for a total transaction of $344,240.00. Following the completion of the transaction, the chief financial officer now owns 1,342,082 shares of the company’s stock, valued at approximately $35,538,331.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders sold 39,000 shares of company stock worth $1,058,720. Corporate insiders own 5.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on BOX shares. Raymond James boosted their target price on shares of BOX from $30.00 to $35.00 in a research note on Thursday, August 25th. StockNews.com started coverage on shares of BOX in a research note on Wednesday, October 12th. They set a “strong-buy” rating for the company. Morgan Stanley upgraded BOX from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $32.00 to $34.00 in a research note on Monday, October 3rd. They noted that the move was a valuation call. KeyCorp started coverage on BOX in a research note on Monday, September 12th. They issued an “overweight” rating and a $34.00 price objective for the company. Finally, Citigroup started coverage on BOX in a research note on Thursday, September 1st. They issued a “buy” rating and a $34.00 price objective for the company. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $33.10.

BOX Stock Performance

Shares of BOX stock opened at $28.13 on Friday. Box, Inc. has a 52-week low of $22.31 and a 52-week high of $33.04. The firm has a market capitalization of $4.00 billion, a PE ratio of -108.19 and a beta of 1.16. The stock has a fifty day simple moving average of $27.17 and a two-hundred day simple moving average of $27.21.

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

BOX Profile

(Get Rating)

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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