Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in Box, Inc. (NYSE:BOX – Get Rating) by 9.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,057 shares of the software maker’s stock after purchasing an additional 615 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in BOX were worth $172,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fairfield Bush & CO. purchased a new stake in BOX in the first quarter worth $29,000. Harbor Investment Advisory LLC grew its stake in shares of BOX by 61.0% in the second quarter. Harbor Investment Advisory LLC now owns 1,275 shares of the software maker’s stock worth $32,000 after acquiring an additional 483 shares during the last quarter. Trust Co. of Vermont purchased a new stake in shares of BOX in the second quarter worth $40,000. SeaCrest Wealth Management LLC purchased a new stake in shares of BOX in the second quarter worth $67,000. Finally, Eagle Bay Advisors LLC grew its stake in shares of BOX by 118.4% in the second quarter. Eagle Bay Advisors LLC now owns 2,739 shares of the software maker’s stock worth $69,000 after acquiring an additional 1,485 shares during the last quarter. 85.67% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of equities research analysts have recently commented on the company. Oppenheimer reissued an “outperform” rating and issued a $35.00 target price on shares of BOX in a research note on Monday, December 5th. Morgan Stanley increased their target price on BOX from $34.00 to $39.00 and gave the stock an “overweight” rating in a research note on Monday, December 19th. JPMorgan Chase & Co. raised BOX from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $31.00 to $34.00 in a research report on Monday, December 12th. KeyCorp increased their price objective on BOX from $34.00 to $37.00 and gave the company an “overweight” rating in a research report on Wednesday, January 18th. Finally, Royal Bank of Canada cut BOX from a “sector perform” rating to an “underperform” rating and dropped their price objective for the company from $28.00 to $24.00 in a research report on Tuesday, January 10th. One investment analyst has rated the stock with a sell rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $35.00.
BOX Stock Performance
BOX (NYSE:BOX – Get Rating) last posted its earnings results on Wednesday, November 30th. The software maker reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.06. The firm had revenue of $249.95 million during the quarter, compared to the consensus estimate of $250.79 million. Equities analysts predict that Box, Inc. will post -0.09 earnings per share for the current year.
Insider Transactions at BOX
In related news, VP Eli Berkovitch sold 4,000 shares of the stock in a transaction dated Monday, December 12th. The stock was sold at an average price of $30.14, for a total transaction of $120,560.00. Following the completion of the sale, the vice president now owns 146,306 shares in the company, valued at $4,409,662.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Dylan C. Smith sold 13,000 shares of the stock in a transaction dated Thursday, November 10th. The stock was sold at an average price of $28.10, for a total transaction of $365,300.00. Following the completion of the sale, the chief financial officer now owns 1,329,082 shares in the company, valued at $37,347,204.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Eli Berkovitch sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, December 12th. The shares were sold at an average price of $30.14, for a total value of $120,560.00. Following the transaction, the vice president now owns 146,306 shares of the company’s stock, valued at approximately $4,409,662.84. The disclosure for this sale can be found here. Insiders have sold 296,919 shares of company stock valued at $8,753,424 over the last quarter. 5.20% of the stock is currently owned by company insiders.
Box, Inc engages in the provision of enterprise content platform that enables organizations to securely manage enterprise content while allowing easy, secure access and sharing of this content from anywhere, on any device. Its products include cloud content management, IT and admin controls, box governance, box zones, box relay, box shuttle, box keysafe and automations.
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