Vestcor Inc Invests $399,000 in Box, Inc. (NYSE:BOX)

Key Points

• Vestcor Inc has acquired a new stake in Box, Inc. worth approximately $399,000 by purchasing 12,918 shares during the first quarter.
• Other hedge funds, including GAMMA Investing LLC, have also significantly increased their positions in Box, with GAMMA's stake rising by 8,676.2% to over 127,600 shares.
• Box reported earnings of $0.30 EPS for the quarter, exceeding estimates, while revenue rose by 4.4% year-over-year, totaling $276.27 million.

Vestcor Inc acquired a new stake in Box, Inc. (NYSE:BOX - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 12,918 shares of the software maker's stock, valued at approximately $399,000.

Other hedge funds also recently modified their holdings of the company. XTX Topco Ltd grew its stake in shares of BOX by 517.8% during the first quarter. XTX Topco Ltd now owns 52,105 shares of the software maker's stock worth $1,608,000 after buying an additional 43,671 shares during the last quarter. TCTC Holdings LLC grew its position in BOX by 115.4% in the 1st quarter. TCTC Holdings LLC now owns 825 shares of the software maker's stock worth $25,000 after purchasing an additional 442 shares in the last quarter. Mackenzie Financial Corp increased its stake in shares of BOX by 42.4% during the 1st quarter. Mackenzie Financial Corp now owns 486,433 shares of the software maker's stock worth $15,011,000 after purchasing an additional 144,827 shares during the last quarter. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of BOX during the 1st quarter worth approximately $124,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in BOX by 4.8% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 37,116 shares of the software maker's stock worth $1,145,000 after buying an additional 1,689 shares during the period. Institutional investors own 86.74% of the company's stock.

BOX Stock Performance

NYSE BOX traded down $0.27 during trading hours on Thursday, hitting $31.73. The company had a trading volume of 1,039,801 shares, compared to its average volume of 1,904,368. Box, Inc. has a 1-year low of $26.87 and a 1-year high of $38.80. The company has a market cap of $4.56 billion, a PE ratio of 24.56 and a beta of 0.96. The business has a 50 day moving average of $34.22 and a 200-day moving average of $32.66.

BOX (NYSE:BOX - Get Free Report) last issued its quarterly earnings data on Tuesday, May 27th. The software maker reported $0.30 earnings per share for the quarter, topping analysts' consensus estimates of $0.25 by $0.05. The business had revenue of $276.27 million during the quarter, compared to analysts' expectations of $274.77 million. BOX had a net margin of 21.38% and a negative return on equity of 20.17%. The company's revenue was up 4.4% on a year-over-year basis. During the same period last year, the company posted $0.39 EPS. Sell-side analysts expect that Box, Inc. will post 0.27 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Raymond James Financial restated an "outperform" rating and issued a $42.00 price objective (up previously from $38.00) on shares of BOX in a research report on Wednesday, May 28th. Royal Bank Of Canada raised their target price 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. JPMorgan Chase & Co. lifted 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. Morgan Stanley reiterated a "positive" rating on shares of BOX in a report on Wednesday, May 28th. Finally, DA Davidson set a $45.00 price objective on shares of BOX and gave the stock a "buy" rating in a research note on Wednesday, May 28th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, BOX has a consensus rating of "Moderate Buy" and an average target price of $38.50.

Insider Buying and Selling

In other BOX news, COO Olivia Nottebohm sold 2,013 shares of the firm's stock in a transaction on Monday, July 21st. The shares were sold at an average price of $32.50, for a total transaction of $65,422.50. Following the completion of the transaction, the chief operating officer directly owned 532,073 shares of the company's stock, valued at $17,292,372.50. This trade represents a 0.38% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Aaron Levie sold 15,000 shares of the business's stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $33.35, for a total transaction of $500,250.00. Following the sale, the chief executive officer directly owned 2,952,030 shares of the company's stock, valued at approximately $98,450,200.50. This represents a 0.51% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 108,925 shares of company stock valued at $3,817,023. 3.90% of the stock is owned by corporate insiders.

About BOX

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.