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Townsquare Capital LLC Acquires 12,766 Shares of Box, Inc. (NYSE:BOX)

BOX logo with Computer and Technology background

Key Points

  • Townsquare Capital LLC increased its position in Box, Inc. by 13.8% in the first quarter, owning approximately $3.25 million worth of stock.
  • Several institutional investors also adjusted their holdings in Box, with 86.74% of the stock being owned by such investors.
  • Analysts have set new price targets for Box, with ratings ranging from "underperform" to "strong buy." The average target price is currently $38.50.
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Townsquare Capital LLC grew its holdings in Box, Inc. (NYSE:BOX - Free Report) by 13.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 105,178 shares of the software maker's stock after purchasing an additional 12,766 shares during the period. Townsquare Capital LLC owned approximately 0.07% of BOX worth $3,246,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. TCTC Holdings LLC grew its position in BOX by 115.4% during the 1st quarter. TCTC Holdings LLC now owns 825 shares of the software maker's stock worth $25,000 after acquiring an additional 442 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its position in BOX by 332.5% during the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 865 shares of the software maker's stock worth $27,000 after acquiring an additional 665 shares during the last quarter. MorganRosel Wealth Management LLC bought a new stake in BOX during the 1st quarter worth $31,000. Versant Capital Management Inc grew its position in BOX by 519.4% during the 1st quarter. Versant Capital Management Inc now owns 1,951 shares of the software maker's stock worth $60,000 after acquiring an additional 1,636 shares during the last quarter. Finally, TD Waterhouse Canada Inc. grew its position in BOX by 42.4% during the 4th quarter. TD Waterhouse Canada Inc. now owns 2,194 shares of the software maker's stock worth $69,000 after acquiring an additional 653 shares during the last quarter. Institutional investors own 86.74% of the company's stock.

BOX Stock Performance

Shares of NYSE:BOX traded down $0.63 during midday trading on Thursday, reaching $31.06. The company's stock had a trading volume of 1,408,882 shares, compared to its average volume of 1,900,215. The firm has a market capitalization of $4.47 billion, a price-to-earnings ratio of 24.07 and a beta of 0.96. The firm has a 50 day moving average price of $33.57 and a two-hundred day moving average price of $32.66. Box, Inc. has a fifty-two week low of $27.86 and a fifty-two week high of $38.80.

BOX (NYSE:BOX - Get Free Report) last announced its quarterly earnings data on Tuesday, May 27th. The software maker reported $0.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.25 by $0.05. The company had revenue of $276.27 million for the quarter, compared to the consensus estimate of $274.77 million. BOX had a negative return on equity of 20.17% and a net margin of 21.38%. The firm's revenue was up 4.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.39 EPS. As a group, research analysts anticipate that Box, Inc. will post 0.27 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently weighed in on BOX. Raymond James Financial restated an "outperform" rating and set a $42.00 price objective (up previously from $38.00) on shares of BOX in a research report on Wednesday, May 28th. UBS Group raised BOX from a "buy" rating to a "strong-buy" rating and lifted their target price for the stock from $37.00 to $40.00 in a report on Wednesday, May 28th. Royal Bank Of Canada lifted their target price on BOX from $21.00 to $24.00 and gave the stock an "underperform" rating in a report on Wednesday, May 28th. Morgan Stanley reaffirmed a "positive" rating on shares of BOX in a report on Wednesday, May 28th. Finally, Wall Street Zen downgraded BOX from a "buy" rating to a "hold" rating in a report on Sunday, June 29th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $38.50.

Get Our Latest Research Report on BOX

Insider Buying and Selling at BOX

In related news, Director Daniel J. Levin sold 37,499 shares of the company'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 transaction of $1,377,713.26. Following the transaction, the director directly owned 51,530 shares of the company's stock, valued at approximately $1,893,212.20. This represents a 42.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Dylan C. Smith sold 13,000 shares of the company's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $37.23, for a total value of $483,990.00. Following the transaction, the chief financial officer directly owned 1,507,550 shares in the company, valued at approximately $56,126,086.50. This trade represents a 0.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 94,504 shares of company stock worth $3,363,371 in the last quarter. Company insiders own 3.90% of the company's stock.

About BOX

(Free Report)

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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Institutional Ownership by Quarter for BOX (NYSE:BOX)

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