Renaissance Technologies LLC raised its position in Box Inc (NYSE:BOX) by 16.5% during the fourth quarter, Holdings Channel reports. The firm owned 3,203,600 shares of the software maker’s stock after buying an additional 454,700 shares during the quarter. Renaissance Technologies LLC’s holdings in BOX were worth $67,660,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in BOX. California Public Employees Retirement System purchased a new stake in shares of BOX in the 2nd quarter valued at approximately $239,000. Ark Investment Management LLC increased its position in shares of BOX by 113.3% in the 2nd quarter. Ark Investment Management LLC now owns 25,765 shares of the software maker’s stock valued at $470,000 after purchasing an additional 13,685 shares during the last quarter. Parametric Portfolio Associates LLC increased its position in shares of BOX by 24.2% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 25,980 shares of the software maker’s stock valued at $474,000 after purchasing an additional 5,064 shares during the last quarter. State Street Corp increased its position in shares of BOX by 56.7% in the 2nd quarter. State Street Corp now owns 1,372,520 shares of the software maker’s stock valued at $25,034,000 after purchasing an additional 496,588 shares during the last quarter. Finally, Nationwide Fund Advisors increased its position in shares of BOX by 45.7% in the 3rd quarter. Nationwide Fund Advisors now owns 457,706 shares of the software maker’s stock valued at $8,843,000 after purchasing an additional 143,500 shares during the last quarter. 74.52% of the stock is currently owned by institutional investors.
BOX has been the topic of a number of recent analyst reports. Canaccord Genuity reissued a “buy” rating on shares of BOX in a research report on Monday, March 5th. Vetr downgraded shares of BOX from a “strong-buy” rating to a “buy” rating and set a $24.14 price objective on the stock. in a research report on Thursday, February 15th. DA Davidson began coverage on shares of BOX in a report on Thursday, February 15th. They issued a “buy” rating and a $25.00 target price for the company. Oppenheimer restated a “buy” rating and issued a $24.00 target price on shares of BOX in a report on Thursday, November 30th. Finally, Drexel Hamilton restated a “buy” rating and issued a $28.00 target price on shares of BOX in a report on Monday, November 27th. Four analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $24.40.
BOX (NYSE:BOX) last issued its quarterly earnings results on Wednesday, February 28th. The software maker reported ($0.06) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.08) by $0.02. The firm had revenue of $136.70 million during the quarter, compared to analysts’ expectations of $136.61 million. BOX had a negative net margin of 30.62% and a negative return on equity of 362.87%. BOX’s quarterly revenue was up 24.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.10) EPS. sell-side analysts expect that Box Inc will post -1.03 earnings per share for the current year.
In related news, Director Dana L. Evan sold 7,500 shares of the stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $21.65, for a total transaction of $162,375.00. Following the completion of the sale, the director now owns 21,399 shares in the company, valued at approximately $463,288.35. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Rory O’driscoll sold 592,309 shares of the stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $20.88, for a total transaction of $12,367,411.92. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,367,309 shares of company stock valued at $28,917,052. 20.59% of the stock is owned by company insiders.
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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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