M&T Bank Corp Has $373,000 Stake in Box, Inc. (BOX)
M&T Bank Corp maintained its stake in shares of Box, Inc. (NYSE:BOX) during the second quarter, according to its most recent filing with the SEC. The fund owned 20,465 shares of the software maker’s stock at the end of the second quarter. M&T Bank Corp’s holdings in Box were worth $373,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. BNP Paribas Arbitrage SA increased its holdings in shares of Box by 843.7% during the second quarter. BNP Paribas Arbitrage SA now owns 9,786 shares of the software maker’s stock valued at $178,000 after acquiring an additional 8,749 shares in the last quarter. StepStone Group LP bought a new position in shares of Box during the second quarter valued at $180,000. Amalgamated Bank bought a new position in shares of Box during the second quarter valued at $183,000. Two Sigma Securities LLC bought a new stake in Box in the 1st quarter worth about $177,000. Finally, Principal Financial Group Inc. bought a new stake in Box in the 2nd quarter worth about $199,000. Hedge funds and other institutional investors own 57.37% of the company’s stock.
Several research firms recently commented on BOX. Rosenblatt Securities reiterated a “buy” rating and issued a $25.00 price objective on shares of Box in a report on Monday. Stifel Nicolaus reissued a “hold” rating and issued a $17.00 target price on shares of Box in a research report on Wednesday, August 16th. UBS AG raised Box from a “market perform” rating to an “outperform” rating and set a $26.00 target price on the stock in a research report on Monday, September 25th. Canaccord Genuity reissued a “buy” rating and issued a $24.00 target price on shares of Box in a research report on Friday. Finally, Drexel Hamilton reissued a “buy” rating and issued a $28.00 target price on shares of Box in a research report on Monday, August 28th. Three analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Box has an average rating of “Buy” and an average price target of $23.32.
In other Box news, VP Jeff Mannie sold 6,145 shares of the firm’s stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $19.00, for a total transaction of $116,755.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Daniel J. Levin sold 40,000 shares of the firm’s stock in a transaction on Monday, July 17th. The stock was sold at an average price of $18.93, for a total value of $757,200.00. Following the sale, the chief operating officer now directly owns 3,752 shares of the company’s stock, valued at approximately $71,025.36. The disclosure for this sale can be found here. In the last three months, insiders have sold 986,534 shares of company stock valued at $18,436,451. 20.59% of the stock is owned by insiders.
Box, Inc. (NYSE BOX) opened at 19.13 on Tuesday. The company’s market cap is $2.56 billion. The stock’s 50 day moving average price is $18.60 and its 200 day moving average price is $18.60. Box, Inc. has a 52-week low of $13.56 and a 52-week high of $19.44.
Box (NYSE:BOX) last posted its earnings results on Wednesday, August 30th. The software maker reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.02. The company had revenue of $122.94 million during the quarter, compared to analysts’ expectations of $121.75 million. Box had a negative return on equity of 232.81% and a negative net margin of 34.11%. The firm’s quarterly revenue was up 28.4% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.14) earnings per share. 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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