Box, Inc. (NYSE:BOX) Stake Raised by Blue Trust Inc.

Blue Trust Inc. increased its holdings in Box, Inc. (NYSE:BOX) by 88.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,291 shares of the software maker’s stock after buying an additional 12,330 shares during the quarter. Blue Trust Inc.’s holdings in BOX were worth $811,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership lifted its position in BOX by 103.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,386,370 shares of the software maker’s stock worth $107,009,000 after purchasing an additional 1,725,197 shares during the period. Norges Bank bought a new position in BOX during the fourth quarter valued at about $29,973,000. Jupiter Asset Management Ltd. bought a new position in BOX during the fourth quarter valued at about $24,234,000. Fisher Asset Management LLC grew its holdings in BOX by 420.6% during the fourth quarter. Fisher Asset Management LLC now owns 857,498 shares of the software maker’s stock worth $27,097,000 after acquiring an additional 692,784 shares during the period. Finally, Wells Fargo & Company MN raised its position in BOX by 22.9% in the fourth quarter. Wells Fargo & Company MN now owns 1,633,647 shares of the software maker’s stock worth $51,623,000 after acquiring an additional 304,755 shares in the last quarter. 86.74% of the stock is currently owned by institutional investors and hedge funds.

BOX Trading Down 2.1%

Shares of NYSE:BOX opened at $34.30 on Friday. The firm has a market cap of $4.93 billion, a price-to-earnings ratio of 26.59 and a beta of 0.94. Box, Inc. has a 1 year low of $24.63 and a 1 year high of $38.80. The business has a fifty day simple moving average of $33.03 and a 200 day simple moving average of $32.40.

BOX (NYSE:BOX) last released its quarterly earnings data on Tuesday, May 27th. The software maker reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.05. The firm had revenue of $276.27 million for the quarter, compared to the consensus estimate of $274.77 million. BOX had a negative return on equity of 20.17% and a net margin of 21.38%. The firm’s revenue was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.39 earnings per share. On average, sell-side analysts forecast that Box, Inc. will post 0.27 EPS for the current year.

BOX announced that its Board of Directors has authorized a share repurchase plan on Tuesday, March 4th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the software maker to purchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In other BOX news, COO Olivia Nottebohm sold 1,329 shares of the company’s stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $37.43, for a total transaction of $49,744.47. Following the completion of the sale, the chief operating officer now directly owns 554,682 shares in the company, valued at $20,761,747.26. This represents a 0.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Dylan C. Smith sold 13,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $37.23, for a total value of $483,990.00. Following the completion of the sale, the chief financial officer now directly owns 1,507,550 shares in the company, valued at $56,126,086.50. This trade represents a 0.85% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 101,129 shares of company stock worth $3,459,346. Corporate insiders own 3.90% of the company’s stock.

Analyst Ratings Changes

BOX has been the subject of several research reports. Royal Bank Of Canada raised their price objective on shares of BOX from $21.00 to $24.00 and gave the company an “underperform” rating in a research report on Wednesday, May 28th. UBS Group upgraded shares of BOX from a “buy” rating to a “strong-buy” rating and lifted their price target for the stock from $37.00 to $40.00 in a research report on Wednesday, May 28th. Morgan Stanley reiterated a “positive” rating on shares of BOX in a research report on Wednesday, May 28th. DA Davidson set a $45.00 target price on BOX and gave the stock a “buy” rating in a report on Wednesday, May 28th. Finally, Wall Street Zen raised BOX from a “hold” rating to a “buy” rating in a research note on Saturday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.50.

BOX Profile

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.