Exchange Traded Concepts LLC Acquires New Shares in Box, Inc. (NYSE:BOX)

Exchange Traded Concepts LLC acquired a new stake in Box, Inc. (NYSE:BOX) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 52,287 shares of the software maker’s stock, valued at approximately $1,711,000.

Several other hedge funds have also recently bought and sold shares of BOX. Vanguard Group Inc. increased its stake in BOX by 14.9% in the 1st quarter. Vanguard Group Inc. now owns 17,313,882 shares of the software maker’s stock valued at $490,329,000 after purchasing an additional 2,249,082 shares in the last quarter. Principal Financial Group Inc. grew its holdings in BOX by 4,889.2% during the 1st quarter. Principal Financial Group Inc. now owns 813,234 shares of the software maker’s stock valued at $23,031,000 after buying an additional 796,934 shares during the last quarter. Earnest Partners LLC grew its holdings in BOX by 10.5% during the 1st quarter. Earnest Partners LLC now owns 7,340,474 shares of the software maker’s stock valued at $207,882,000 after buying an additional 699,882 shares during the last quarter. Sei Investments Co. boosted its holdings in shares of BOX by 16.6% during the first quarter. Sei Investments Co. now owns 2,953,422 shares of the software maker’s stock worth $83,641,000 after purchasing an additional 421,289 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in shares of BOX by 19.4% during the first quarter. Jacobs Levy Equity Management Inc. now owns 2,374,580 shares of the software maker’s stock worth $67,248,000 after purchasing an additional 386,149 shares during the last quarter. 86.74% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Monness Crespi & Hardt raised BOX to a “hold” rating in a research report on Friday, August 16th. Citigroup increased their target price on BOX from $32.00 to $34.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Royal Bank of Canada reaffirmed an “underperform” rating and issued a $21.00 target price on shares of BOX in a research report on Wednesday, August 28th. UBS Group increased their target price on BOX from $31.00 to $34.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Finally, StockNews.com raised BOX from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $31.22.

Insider Transactions at BOX

In other news, CEO Aaron Levie sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $32.92, for a total transaction of $329,200.00. Following the completion of the transaction, the chief executive officer now directly owns 3,009,155 shares in the company, valued at approximately $99,061,382.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Aaron Levie sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $32.92, for a total transaction of $329,200.00. Following the sale, the chief executive officer now owns 3,009,155 shares of the company’s stock, valued at $99,061,382.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Dylan C. Smith sold 13,000 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $27.05, for a total value of $351,650.00. Following the sale, the chief financial officer now directly owns 1,513,661 shares in the company, valued at approximately $40,944,530.05. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 56,000 shares of company stock worth $1,759,940. Company insiders own 4.10% of the company’s stock.

BOX Stock Performance

NYSE:BOX opened at $32.72 on Wednesday. The company has a market capitalization of $4.72 billion, a price-to-earnings ratio of 44.82 and a beta of 0.85. Box, Inc. has a one year low of $23.29 and a one year high of $33.95. The stock has a 50-day simple moving average of $31.20 and a 200 day simple moving average of $28.24.

BOX (NYSE:BOX) last issued its earnings results on Tuesday, August 27th. The software maker reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.04. BOX had a negative return on equity of 14.41% and a net margin of 13.94%. The company had revenue of $270.04 million during the quarter, compared to the consensus estimate of $269.52 million. During the same period in the previous year, the firm posted $0.01 earnings per share. BOX’s quarterly revenue was up 3.3% compared to the same quarter last year. On average, equities research analysts forecast that Box, Inc. will post 0.23 EPS for the current fiscal year.

BOX Profile

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 work with their content as they need from secure external collaboration and sharing, workspaces and portals, e-signature processes, and content workflows improving employee productivity and accelerating business processes.