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

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Cloverdale Capital Management LLC purchased a new position in Box Inc (NYSE:BOX) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 472,700 shares of the software maker’s stock, valued at approximately $8,324,000. BOX makes up 5.7% of Cloverdale Capital Management LLC’s holdings, making the stock its 8th biggest position. Cloverdale Capital Management LLC owned approximately 0.32% of BOX as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Valeo Financial Advisors LLC boosted its stake in BOX by 756.3% during the second quarter. Valeo Financial Advisors LLC now owns 2,055 shares of the software maker’s stock valued at $36,000 after buying an additional 1,815 shares during the last quarter. Truvestments Capital LLC bought a new stake in shares of BOX in the 2nd quarter valued at approximately $52,000. Kavar Capital Partners LLC bought a new stake in shares of BOX in the 2nd quarter valued at approximately $61,000. Captrust Financial Advisors bought a new stake in shares of BOX in the 2nd quarter valued at approximately $66,000. Finally, Parallel Advisors LLC lifted its stake in shares of BOX by 74.6% in the 2nd quarter. Parallel Advisors LLC now owns 5,150 shares of the software maker’s stock valued at $91,000 after purchasing an additional 2,200 shares during the last quarter. Institutional investors and hedge funds own 72.06% of the company’s stock.

BOX has been the subject of several analyst reports. William Blair reaffirmed an “outperform” rating on shares of BOX in a research note on Tuesday, June 4th. JMP Securities lowered their price objective on BOX from $24.00 to $21.00 and set a “market outperform” rating for the company in a research note on Tuesday, June 4th. ValuEngine raised BOX from a “hold” rating to a “buy” rating in a research note on Thursday, September 5th. Deutsche Bank lowered their price objective on BOX from $21.00 to $17.00 and set a “hold” rating for the company in a research note on Tuesday, June 4th. Finally, DA Davidson lowered their price objective on BOX from $19.00 to $17.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Seven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. BOX currently has an average rating of “Buy” and an average target price of $19.40.

Shares of NYSE BOX traded up $0.12 during midday trading 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 company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 14.57. The business’s 50 day moving average is $15.18 and its two-hundred day moving average is $17.91. Box Inc has a 12-month low of $12.46 and a 12-month high of $24.93. The firm has a market cap of $2.59 billion, a P/E ratio of -18.20 and a beta of 1.39.

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

About BOX

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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