Longboard Asset Management LP Makes New $277,000 Investment in Box, Inc. $BOX

Key Points

• Longboard Asset Management LP has acquired a new stake in Box, Inc., purchasing 8,096 shares valued at approximately $277,000, which constitutes about 0.7% of their investment portfolio.
• Several hedge funds have increased their holdings in Box recently, with Sunriver Management LLC significantly boosting its stake by 62.9% in the first quarter.
• Analysts have set new price targets for Box, with JPMorgan raising theirs to $39.00 and UBS Group increasing it to $42.00, indicating strong sentiment towards the company.

Longboard Asset Management LP purchased a new position in shares of Box, Inc. (NYSE:BOX - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 8,096 shares of the software maker's stock, valued at approximately $277,000. BOX accounts for 0.7% of Longboard Asset Management LP's investment portfolio, making the stock its 26th largest holding.

A number of other hedge funds also recently modified their holdings of BOX. Sunriver Management LLC lifted its holdings in shares of BOX by 62.9% during the first quarter. Sunriver Management LLC now owns 1,546,862 shares of the software maker's stock worth $47,736,000 after purchasing an additional 597,410 shares during the period. RGM Capital LLC lifted its holdings in BOX by 9.3% in the first quarter. RGM Capital LLC now owns 3,749,773 shares of the software maker's stock valued at $115,718,000 after buying an additional 318,459 shares during the period. Edgestream Partners L.P. lifted its holdings in BOX by 248.8% in the first quarter. Edgestream Partners L.P. now owns 294,887 shares of the software maker's stock valued at $9,100,000 after buying an additional 210,350 shares during the period. Voss Capital LP acquired a new position in BOX in the first quarter valued at $5,958,000. Finally, Congress Asset Management Co. lifted its holdings in BOX by 11.2% in the first quarter. Congress Asset Management Co. now owns 1,846,069 shares of the software maker's stock valued at $56,970,000 after buying an additional 186,423 shares during the period. Institutional investors and hedge funds own 86.74% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on BOX shares. JPMorgan Chase & Co. boosted their target price on shares of BOX from $37.00 to $39.00 and gave the company an "overweight" rating in a report on Wednesday, May 28th. Royal Bank Of Canada boosted their target price on shares of BOX from $24.00 to $26.00 and gave the company an "underperform" rating in a report on Wednesday, August 27th. Raymond James Financial restated an "outperform" rating and issued a $42.00 target price on shares of BOX in a report on Wednesday, August 27th. UBS Group lowered shares of BOX from a "buy" rating to a "neutral" rating and dropped their target price for the company from $42.00 to $36.00 in a report on Thursday. Finally, DA Davidson set a $45.00 target price on shares of BOX and gave the company a "buy" rating in a report on Wednesday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, BOX has a consensus rating of "Moderate Buy" and an average price target of $38.25.

BOX Stock Performance

BOX traded down $0.16 during midday trading on Friday, reaching $32.14. The company had a trading volume of 3,327,873 shares, compared to its average volume of 2,185,933. The stock has a market cap of $4.66 billion, a PE ratio of 25.92 and a beta of 0.95. Box, Inc. has a 12-month low of $28.00 and a 12-month high of $38.80. The business has a 50-day moving average price of $32.24 and a two-hundred day moving average price of $32.35.

BOX (NYSE:BOX - Get Free Report) last released its earnings results on Tuesday, August 26th. The software maker reported $0.33 earnings per share for the quarter, beating analysts' consensus estimates of $0.31 by $0.02. The firm had revenue of $294.00 million for the quarter, compared to analysts' expectations of $290.19 million. BOX had a net margin of 20.30% and a negative return on equity of 21.77%. The company's quarterly revenue was up 8.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.44 earnings per share. BOX has set its FY 2026 guidance at 1.260-1.28 EPS. Q3 2026 guidance at 0.310-0.32 EPS. On average, research analysts anticipate that Box, Inc. will post 0.27 earnings per share for the current year.

Insider Transactions at BOX

In other BOX news, VP Eli Berkovitch sold 3,000 shares of the company's stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $33.34, for a total transaction of $100,020.00. Following the sale, the vice president directly owned 133,867 shares of the company's stock, valued at $4,463,125.78. This represents a 2.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Aaron Levie sold 15,000 shares of the company's stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $32.81, for a total transaction of $492,150.00. Following the sale, the chief executive officer directly owned 2,937,030 shares in the company, valued at approximately $96,363,954.30. This trade represents a 0.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 102,752 shares of company stock valued at $3,395,069. Corporate insiders own 3.90% of the company's stock.

BOX Company Profile

Box, Inc engages in the provision of an 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, and Box KeySafe.