Panagora Asset Management Inc. Has $902,000 Stake in Box, Inc. (NYSE:BOX)

Panagora Asset Management Inc. trimmed its position in Box, Inc. (NYSE:BOX) by 93.3% in the first quarter, Holdings Channel.com reports. The institutional investor owned 33,685 shares of the software maker’s stock after selling 466,444 shares during the period. Panagora Asset Management Inc.’s holdings in BOX were worth $902,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BOX. Fairfield Bush & CO. bought a new stake in shares of BOX in the first quarter valued at about $29,000. Cambridge Investment Research Advisors Inc. bought a new stake in shares of BOX during the first quarter valued at approximately $206,000. Natixis Advisors L.P. raised its stake in shares of BOX by 54.5% in the first quarter. Natixis Advisors L.P. now owns 22,540 shares of the software maker’s stock valued at $655,000 after purchasing an additional 7,953 shares in the last quarter. MetLife Investment Management LLC lifted its position in BOX by 55.3% in the first quarter. MetLife Investment Management LLC now owns 74,326 shares of the software maker’s stock worth $2,160,000 after purchasing an additional 26,459 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in BOX by 18.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,091,273 shares of the software maker’s stock worth $31,713,000 after buying an additional 170,949 shares in the last quarter. Institutional investors and hedge funds own 87.90% of the company’s stock.

BOX Stock Down 0.4 %

BOX stock opened at $25.94 on Friday. The stock has a 50-day simple moving average of $29.84 and a 200 day simple moving average of $28.53. The stock has a market capitalization of $3.76 billion, a price-to-earnings ratio of 136.53, a P/E/G ratio of 14.48 and a beta of 1.03. Box, Inc. has a 12-month low of $24.00 and a 12-month high of $34.98.

BOX (NYSE:BOX) last announced its earnings results on Tuesday, August 29th. The software maker reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. BOX had a net margin of 4.86% and a negative return on equity of 6.51%. The company had revenue of $261.43 million during the quarter, compared to the consensus estimate of $261.32 million. During the same period in the previous year, the firm posted ($0.05) earnings per share. The company’s revenue was up 6.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Box, Inc. will post 0.09 EPS for the current year.

Insiders Place Their Bets

In other news, VP Eli Berkovitch sold 3,000 shares of BOX stock in a transaction on Monday, July 10th. The stock was sold at an average price of $28.72, for a total value of $86,160.00. Following the completion of the sale, the vice president now directly owns 155,312 shares of the company’s stock, valued at approximately $4,460,560.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Jack R. Lazar sold 5,000 shares of the stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $29.95, for a total value of $149,750.00. Following the transaction, the director now directly owns 21,555 shares in the company, valued at $645,572.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Eli Berkovitch sold 3,000 shares of the company’s stock in a transaction on Monday, July 10th. The shares were sold at an average price of $28.72, for a total transaction of $86,160.00. Following the sale, the vice president now owns 155,312 shares of the company’s stock, valued at approximately $4,460,560.64. The disclosure for this sale can be found here. In the last quarter, insiders have sold 44,000 shares of company stock valued at $1,295,430. 4.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

BOX has been the subject of a number of analyst reports. Royal Bank of Canada reaffirmed an “underperform” rating and set a $21.00 price objective on shares of BOX in a report on Wednesday, August 30th. Craig Hallum downgraded BOX from a “buy” rating to a “hold” rating in a report on Wednesday, August 30th. JMP Securities reissued a “market outperform” rating and issued a $32.00 target price on shares of BOX in a report on Wednesday, August 30th. JPMorgan Chase & Co. decreased their price target on BOX from $34.00 to $33.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 30th. Finally, KeyCorp cut their price objective on BOX from $35.00 to $33.00 and set an “overweight” rating for the company in a report on Wednesday, August 30th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $32.25.

BOX Profile

Box, Inc provides a cloud content management platform that enables organizations of various sizes to manage and share their content from anywhere on 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 to comply with legal and regulatory requirements, internal policies, and industry standards and regulations.