Whale Rock Capital Management LLC acquired a new position in Box (NYSE:BOX) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 798,418 shares of the software maker’s stock, valued at approximately $16,863,000. BOX accounts for 0.8% of Whale Rock Capital Management LLC’s holdings, making the stock its 25th largest holding. Whale Rock Capital Management LLC owned 0.59% of BOX at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently modified their holdings of the company. State Street Corp lifted its holdings in BOX by 56.7% in the second quarter. State Street Corp now owns 1,372,520 shares of the software maker’s stock worth $25,034,000 after buying an additional 496,588 shares during the period. Bares Capital Management Inc. lifted its holdings in BOX by 10.1% in the third quarter. Bares Capital Management Inc. now owns 6,391,461 shares of the software maker’s stock worth $123,483,000 after buying an additional 588,875 shares during the period. Schwab Charles Investment Management Inc. lifted its holdings in BOX by 35.1% in the third quarter. Schwab Charles Investment Management Inc. now owns 424,670 shares of the software maker’s stock worth $8,205,000 after buying an additional 110,416 shares during the period. Engineers Gate Manager LP lifted its holdings in BOX by 44.4% in the fourth quarter. Engineers Gate Manager LP now owns 240,872 shares of the software maker’s stock worth $5,087,000 after buying an additional 74,044 shares during the period. Finally, Whittier Trust Co. lifted its holdings in BOX by 34,217.9% in the fourth quarter. Whittier Trust Co. now owns 19,218 shares of the software maker’s stock worth $406,000 after buying an additional 19,162 shares during the period. Institutional investors and hedge funds own 73.79% of the company’s stock.
In related news, insider Peter M. Mcgoff sold 2,079 shares of the firm’s stock in a transaction that occurred on Tuesday, March 13th. The shares were sold at an average price of $21.13, for a total value of $43,929.27. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Dana L. Evan sold 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, January 10th. The stock was sold at an average price of $21.15, for a total transaction of $158,625.00. Following the completion of the sale, the director now owns 21,399 shares in the company, valued at approximately $452,588.85. The disclosure for this sale can be found here. Insiders have sold 715,579 shares of company stock valued at $15,280,814 in the last three months. 22.30% of the stock is owned by insiders.
Shares of BOX opened at $20.14 on Friday. The company has a market cap of $2,828.73, a P/E ratio of -17.36 and a beta of 1.14. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 4.48. Box has a twelve month low of $16.44 and a twelve month high of $24.50.
BOX (NYSE:BOX) last announced its quarterly earnings results on Wednesday, February 28th. The software maker reported ($0.06) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $0.02. The company had revenue of $136.70 million during the quarter, compared to the consensus estimate of $136.61 million. BOX had a negative net margin of 30.62% and a negative return on equity of 433.21%. The firm’s quarterly revenue was up 24.4% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.10) earnings per share. sell-side analysts anticipate that Box will post -1.01 EPS for the current fiscal year.
Several analysts have commented on the stock. ValuEngine upgraded shares of BOX from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. Zacks Investment Research raised shares of BOX from a “sell” rating to a “hold” rating in a research note on Thursday, March 8th. Canaccord Genuity reaffirmed a “buy” rating on shares of BOX in a research note on Monday, March 5th. Vetr raised shares of BOX from a “hold” rating to a “strong-buy” rating and set a $26.97 target price for the company in a research note on Tuesday, February 27th. Finally, DA Davidson assumed coverage on shares of BOX in a research note on Thursday, February 15th. They set a “buy” rating and a $25.00 target price for the company. Three equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $24.40.
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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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