Elo Mutual Pension Insurance Co Cuts Position in Box, Inc. $BOX

Elo Mutual Pension Insurance Co decreased its position in Box, Inc. (NYSE:BOX) by 12.4% during the second quarter, HoldingsChannel.com reports. The fund owned 32,994 shares of the software maker’s stock after selling 4,666 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in BOX were worth $1,127,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Sunriver Management LLC raised its stake in BOX by 62.9% during the first quarter. Sunriver Management LLC now owns 1,546,862 shares of the software maker’s stock valued at $47,736,000 after purchasing an additional 597,410 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in shares of BOX in the 2nd quarter worth about $256,000. Aigen Investment Management LP bought a new stake in shares of BOX in the 1st quarter worth about $1,028,000. 111 Capital purchased a new stake in shares of BOX during the 2nd quarter valued at about $659,000. Finally, Fort Washington Investment Advisors Inc. OH lifted its holdings in shares of BOX by 8.4% in the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 511,955 shares of the software maker’s stock valued at $17,494,000 after acquiring an additional 39,792 shares during the last quarter. 86.74% of the stock is currently owned by institutional investors.

BOX Stock Performance

Shares of BOX stock opened at $29.69 on Friday. Box, Inc. has a 52-week low of $28.00 and a 52-week high of $38.80. The firm has a market capitalization of $4.30 billion, a P/E ratio of 23.94 and a beta of 0.87. The stock has a 50 day moving average price of $31.94 and a 200 day moving average price of $32.79.

BOX (NYSE:BOX) last announced its quarterly earnings data on Tuesday, August 26th. The software maker reported $0.33 EPS for the quarter, beating the consensus estimate of $0.31 by $0.02. BOX had a negative return on equity of 21.77% and a net margin of 20.30%.The company had revenue of $294.00 million for the quarter, compared to the consensus estimate of $290.19 million. During the same quarter in the prior year, the company posted $0.44 EPS. BOX’s quarterly revenue was up 8.9% on a year-over-year basis. As a group, sell-side analysts forecast that Box, Inc. will post 0.27 EPS for the current year.

Insider Activity

In other news, Director Jack R. Lazar sold 5,000 shares of the company’s stock in a transaction dated Friday, September 26th. The shares were sold at an average price of $32.20, for a total value of $161,000.00. Following the transaction, the director directly owned 27,855 shares in the company, valued at approximately $896,931. This represents a 15.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Olivia Nottebohm sold 4,612 shares of the firm’s stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $31.35, for a total transaction of $144,586.20. Following the completion of the transaction, the chief operating officer directly owned 497,639 shares in the company, valued at $15,600,982.65. This represents a 0.92% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 122,336 shares of company stock valued at $3,986,999. Insiders own 3.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on BOX shares. Weiss Ratings reissued a “buy (b-)” rating on shares of BOX in a research note on Wednesday, October 8th. Royal Bank Of Canada lifted their target price on BOX from $24.00 to $26.00 and gave the stock an “underperform” rating in a report on Wednesday, August 27th. Citigroup increased their price target on BOX from $39.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, August 27th. Raymond James Financial restated an “outperform” rating and issued a $42.00 price target on shares of BOX in a research report on Wednesday, August 27th. Finally, Zacks Research cut shares of BOX from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 26th. Seven investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, BOX has an average rating of “Moderate Buy” and an average price target of $38.25.

About BOX

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.