Cloverdale Capital Management LLC Makes New $8.32 Million Investment in Box Inc (NYSE:BOX)

Cloverdale Capital Management LLC purchased a new position in shares of Box Inc (NYSE:BOX) during the second quarter, Holdings Channel reports. The fund purchased 472,700 shares of the software maker’s stock, valued at approximately $8,324,000. BOX accounts for approximately 5.7% of Cloverdale Capital Management LLC’s portfolio, making the stock its 8th biggest holding.

Other large investors have also recently added to or reduced their stakes in the company. Capital Impact Advisors LLC increased its position in shares of BOX by 4.5% during the second quarter. Capital Impact Advisors LLC now owns 115,085 shares of the software maker’s stock worth $2,020,000 after acquiring an additional 4,905 shares during the period. Steward Partners Investment Advisory LLC purchased a new stake in shares of BOX during the second quarter worth $182,000. JPMorgan Chase & Co. increased its position in shares of BOX by 138.6% during the second quarter. JPMorgan Chase & Co. now owns 383,585 shares of the software maker’s stock worth $6,732,000 after acquiring an additional 222,840 shares during the period. First Trust Advisors LP increased its position in shares of BOX by 29.5% during the second quarter. First Trust Advisors LP now owns 6,512,107 shares of the software maker’s stock worth $114,678,000 after acquiring an additional 1,484,080 shares during the period. Finally, Falcon Point Capital LLC increased its position in shares of BOX by 1.7% during the second quarter. Falcon Point Capital LLC now owns 178,353 shares of the software maker’s stock worth $3,141,000 after acquiring an additional 3,003 shares during the period. Institutional investors own 72.06% of the company’s stock.

BOX has been the topic of a number of recent research reports. Raymond James cut their price objective on BOX from $21.00 to $18.00 and set an “outperform” rating on the stock in a research report on Thursday, August 29th. Wells Fargo & Co set a $20.00 price objective on BOX and gave the stock a “buy” rating in a research report on Wednesday, September 4th. DA Davidson cut their price objective on BOX from $19.00 to $17.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. William Blair reaffirmed an “outperform” rating on shares of BOX in a research report on Tuesday, June 4th. Finally, JMP Securities cut their price objective on BOX from $24.00 to $21.00 and set a “market outperform” rating on the stock in a research report on Tuesday, June 4th. Seven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. BOX currently has a consensus rating of “Buy” and a consensus price target of $19.40.

NYSE:BOX traded up $0.12 during trading hours on Thursday, hitting $17.48. The company’s stock had a trading volume of 40,160 shares, compared to its average volume of 3,670,656. The stock has a market capitalization of $2.59 billion, a P/E ratio of -18.20 and a beta of 1.39. The stock has a fifty day moving average of $15.18 and a 200-day moving average of $17.91. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 14.57. Box Inc has a 52-week low of $12.46 and a 52-week high of $24.93.

BOX (NYSE:BOX) last posted its earnings results on Wednesday, August 28th. The software maker reported ($0.25) EPS for the quarter, beating the consensus estimate of ($0.26) by $0.01. The firm had revenue of $172.50 million for the quarter, compared to analyst estimates of $169.49 million. BOX had a negative return on equity of 491.54% and a negative net margin of 20.29%. BOX’s revenue for the quarter was up 16.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.05) earnings per share. On average, sell-side analysts forecast that Box Inc will post -0.99 earnings per share for the current year.

BOX Company Profile

Box, Inc provides a cloud content management platform that enables organizations of various sizes to manage and share their content from anywhere or any device. The company's Software-as-a-Service platform enables users to collaborate on content internally and with external parties, automate content-driven business processes, develop custom applications, and implement data protection, security, and compliance features.

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Institutional Ownership by Quarter for BOX (NYSE:BOX)

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