Portside Wealth Group LLC Invests $298,000 in Box, Inc. (NYSE:BOX)

Portside Wealth Group LLC acquired a new stake in Box, Inc. (NYSE:BOX - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 9,441 shares of the software maker's stock, valued at approximately $298,000.

Other hedge funds have also recently bought and sold shares of the company. Janney Montgomery Scott LLC increased its stake in shares of BOX by 5.3% in the fourth quarter. Janney Montgomery Scott LLC now owns 7,807 shares of the software maker's stock valued at $247,000 after purchasing an additional 391 shares during the period. KBC Group NV boosted its position in shares of BOX by 35.7% during the fourth quarter. KBC Group NV now owns 5,403 shares of the software maker's stock worth $171,000 after buying an additional 1,420 shares during the period. Bleakley Financial Group LLC bought a new position in BOX in the 4th quarter worth approximately $200,000. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in BOX by 2.6% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 17,340 shares of the software maker's stock valued at $548,000 after acquiring an additional 442 shares during the period. Finally, Summit Trail Advisors LLC increased its position in BOX by 29.2% in the 4th quarter. Summit Trail Advisors LLC now owns 26,596 shares of the software maker's stock valued at $840,000 after acquiring an additional 6,017 shares during the period. 86.74% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Daniel J. Levin sold 37,499 shares of the business's stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $36.74, for a total value of $1,377,713.26. Following the completion of the sale, the director now owns 51,530 shares of the company's stock, valued at approximately $1,893,212.20. The trade was a 42.12% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Olivia Nottebohm sold 1,332 shares of the stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $29.01, for a total value of $38,641.32. Following the completion of the transaction, the chief operating officer now owns 492,545 shares in the company, valued at $14,288,730.45. This represents a 0.27% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 109,800 shares of company stock worth $3,661,762. Insiders own 3.90% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. UBS Group upgraded BOX from a "buy" rating to a "strong-buy" rating and boosted their price target for the stock from $37.00 to $40.00 in a research report on Wednesday, May 28th. Royal Bank of Canada lifted their price objective on shares of BOX from $21.00 to $24.00 and gave the company an "underperform" rating in a research note on Wednesday, May 28th. Raymond James reiterated an "outperform" rating and issued a $42.00 target price (up previously from $38.00) on shares of BOX in a research report on Wednesday, May 28th. Morgan Stanley reissued a "positive" rating on shares of BOX in a research note on Wednesday, May 28th. Finally, JPMorgan Chase & Co. upped their price target on shares of BOX from $37.00 to $39.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 28th. One analyst has rated the stock with a sell rating, one has issued a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $38.50.

BOX Trading Down 1.7%

Shares of NYSE BOX opened at $37.91 on Friday. Box, Inc. has a twelve month low of $24.63 and a twelve month high of $38.80. The firm has a 50-day moving average of $31.75 and a two-hundred day moving average of $32.30. The company has a market capitalization of $5.45 billion, a price-to-earnings ratio of 47.39, a PEG ratio of 4.42 and a beta of 0.94.

BOX (NYSE:BOX - Get Free Report) last released its earnings results on Tuesday, May 27th. The software maker reported $0.30 EPS for the quarter, topping analysts' consensus estimates of $0.25 by $0.05. The business had revenue of $276.27 million for the quarter, compared to the consensus estimate of $274.77 million. BOX had a net margin of 13.96% and a negative return on equity of 17.20%. The business's revenue for the quarter was up 4.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.39 EPS. As a group, research analysts predict that Box, Inc. will post 0.27 earnings per share for the current year.

BOX announced that its board has approved a stock buyback program on Tuesday, March 4th that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the software maker to purchase up to 3.1% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's leadership believes its stock is undervalued.

BOX 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.

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