Lucha Capital Management LP Takes $7.20 Million Position in Box, Inc. (BOX)
Lucha Capital Management LP acquired a new position in shares of Box, Inc. (NYSE:BOX) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 394,715 shares of the software maker’s stock, valued at approximately $7,200,000. Box makes up about 2.3% of Lucha Capital Management LP’s portfolio, making the stock its 15th largest position. Lucha Capital Management LP owned approximately 0.30% of Box at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of BOX. Wells Fargo & Company MN boosted its stake in Box by 3,627.5% during the second quarter. Wells Fargo & Company MN now owns 3,462,849 shares of the software maker’s stock worth $63,162,000 after acquiring an additional 3,369,948 shares in the last quarter. MARSHALL WACE ASIA Ltd bought a new stake in Box during the first quarter worth about $21,283,000. Marshall Wace North America L.P. bought a new stake in Box during the first quarter worth about $21,283,000. JPMorgan Chase & Co. boosted its stake in Box by 3,041.0% during the second quarter. JPMorgan Chase & Co. now owns 1,366,608 shares of the software maker’s stock worth $24,927,000 after acquiring an additional 1,323,099 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its stake in Box by 453.9% during the first quarter. Renaissance Technologies LLC now owns 1,544,400 shares of the software maker’s stock worth $25,189,000 after acquiring an additional 1,265,600 shares in the last quarter. 57.40% of the stock is currently owned by institutional investors and hedge funds.
In other Box news, President Daniel J. Levin sold 20,000 shares of Box stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $18.60, for a total transaction of $372,000.00. Following the completion of the sale, the president now directly owns 3,752 shares in the company, valued at approximately $69,787.20. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Fisher Jurvetson Fund V. Draper sold 320,000 shares of Box stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $18.07, for a total transaction of $5,782,400.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,175,192 shares of company stock valued at $22,105,842. Company insiders own 20.59% of the company’s stock.
Several brokerages have recently issued reports on BOX. Drexel Hamilton reiterated a “buy” rating and issued a $28.00 target price on shares of Box in a research note on Monday, August 28th. Rosenblatt Securities reiterated a “buy” rating and issued a $25.00 target price on shares of Box in a research note on Monday, June 26th. Morgan Stanley reiterated an “equal weight” rating and issued a $20.00 target price (up previously from $19.00) on shares of Box in a research note on Thursday, June 1st. Wells Fargo & Company reiterated an “outperform” rating and issued a $27.00 target price (up previously from $24.00) on shares of Box in a research note on Thursday, June 1st. Finally, Mitsubishi UFJ Financial Group upgraded shares of Box from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $17.50 to $23.00 in a research note on Thursday, June 1st. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Box has an average rating of “Buy” and an average price target of $22.52.
Shares of Box, Inc. (BOX) traded down 1.3900% during mid-day trading on Monday, reaching $18.2034. 416,837 shares of the company’s stock were exchanged. The company’s market capitalization is $2.42 billion. The company’s 50-day moving average price is $18.52 and its 200-day moving average price is $18.02. Box, Inc. has a one year low of $13.56 and a one year high of $20.91.
Box (NYSE:BOX) last announced its quarterly earnings data on Wednesday, August 30th. The software maker reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.02. Box had a negative net margin of 34.11% and a negative return on equity of 232.81%. The business had revenue of $122.94 million during the quarter, compared to analysts’ expectations of $121.75 million. During the same period in the previous year, the business posted ($0.14) EPS. The business’s quarterly revenue was up 28.4% compared to the same quarter last year. On average, equities analysts expect that Box, Inc. will post ($0.45) earnings per share for the current year.
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Box, Inc provides an enterprise content management platform that enables organizations of all sizes to manage enterprise content while allowing access and sharing of this content from anywhere, on any device. With the Company’s Software-as-a-Service (SaaS) cloud-based platform, users can collaborate on content both internally and with external parties, automate content-driven business processes, develop custom applications, and implement data protection, security and compliance features to comply with internal policies and industry regulations.
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