Engineers Gate Manager LP trimmed its position in Box, Inc. (NYSE:BOX) by 45.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 166,828 shares of the software maker’s stock after selling 137,712 shares during the period. Engineers Gate Manager LP owned approximately 0.12% of BOX worth $3,223,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of BOX. OxFORD Asset Management LLP bought a new stake in BOX during the 3rd quarter worth approximately $962,000. Commerzbank Aktiengesellschaft FI increased its holdings in BOX by 84.9% during the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 31,230 shares of the software maker’s stock worth $603,000 after purchasing an additional 14,337 shares in the last quarter. Artisan Partners Limited Partnership bought a new stake in BOX during the 3rd quarter worth approximately $17,949,000. Schwab Charles Investment Management Inc. increased its holdings in BOX by 35.1% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 424,670 shares of the software maker’s stock worth $8,205,000 after purchasing an additional 110,416 shares in the last quarter. Finally, American International Group Inc. increased its holdings in BOX by 8.1% during the 3rd quarter. American International Group Inc. now owns 52,673 shares of the software maker’s stock worth $1,018,000 after purchasing an additional 3,939 shares in the last quarter. 63.42% of the stock is owned by institutional investors and hedge funds.
In related news, VP Jeff Mannie sold 6,145 shares of the company’s stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $19.00, for a total value of $116,755.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Rory O’driscoll sold 115,000 shares of the company’s stock in a transaction that occurred on Friday, September 22nd. The shares were sold at an average price of $18.08, for a total value of $2,079,200.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,512,090 shares of company stock worth $29,445,738. 22.30% of the stock is owned by company insiders.
BOX (NYSE:BOX) last released its earnings results on Wednesday, November 29th. The software maker reported ($0.13) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.13). The company had revenue of $129.30 million during the quarter, compared to analyst estimates of $128.67 million. BOX had a negative return on equity of 270.51% and a negative net margin of 33.20%. BOX’s quarterly revenue was up 25.8% on a year-over-year basis. During the same period in the prior year, the company posted ($0.14) earnings per share. sell-side analysts anticipate that Box, Inc. will post -1.17 EPS for the current fiscal year.
A number of analysts have commented on BOX shares. Canaccord Genuity boosted their price objective on BOX from $24.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, October 13th. Drexel Hamilton reissued a “buy” rating and set a $28.00 price objective on shares of BOX in a report on Monday, August 28th. Rosenblatt Securities reissued a “buy” rating and set a $25.00 price objective on shares of BOX in a report on Friday, September 1st. Mitsubishi UFJ Financial Group raised BOX to an “overweight” rating and boosted their price objective for the stock from $23.00 to $24.00 in a report on Thursday, August 31st. Finally, UBS raised BOX from a “market perform” rating to an “outperform” rating and set a $26.00 price objective for the company in a report on Monday, September 25th. Three investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. BOX presently has an average rating of “Buy” and a consensus price target of $24.24.
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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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