Box, Inc. (NYSE:BOX) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. reduced its stake in Box, Inc. (NYSE:BOX) by 2.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 793,999 shares of the software maker’s stock after selling 19,235 shares during the period. Principal Financial Group Inc. owned approximately 0.55% of BOX worth $20,993,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Nisa Investment Advisors LLC lifted its position in BOX by 31.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,627 shares of the software maker’s stock worth $69,000 after acquiring an additional 632 shares in the last quarter. Renaissance Group LLC boosted its stake in shares of BOX by 1.0% in the fourth quarter. Renaissance Group LLC now owns 70,731 shares of the software maker’s stock valued at $1,812,000 after purchasing an additional 671 shares during the period. Diversified Trust Co grew its holdings in BOX by 2.9% during the 2nd quarter. Diversified Trust Co now owns 26,980 shares of the software maker’s stock valued at $713,000 after purchasing an additional 768 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in BOX by 14.4% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,207 shares of the software maker’s stock worth $154,000 after buying an additional 782 shares during the period. Finally, Covestor Ltd lifted its holdings in BOX by 27.3% in the 1st quarter. Covestor Ltd now owns 4,312 shares of the software maker’s stock worth $122,000 after buying an additional 924 shares in the last quarter. Institutional investors and hedge funds own 86.74% of the company’s stock.

BOX Stock Performance

Shares of NYSE:BOX opened at $32.08 on Wednesday. The company’s fifty day moving average is $27.61 and its two-hundred day moving average is $27.21. Box, Inc. has a 1-year low of $23.29 and a 1-year high of $33.45. The stock has a market capitalization of $4.63 billion, a price-to-earnings ratio of 43.95 and a beta of 0.86.

BOX (NYSE:BOX) last released its quarterly earnings data on Tuesday, August 27th. The software maker reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.04. BOX had a net margin of 13.94% and a negative return on equity of 14.41%. The firm had revenue of $270.04 million for the quarter, compared to analyst estimates of $269.52 million. During the same quarter in the prior year, the business earned $0.01 earnings per share. BOX’s quarterly revenue was up 3.3% on a year-over-year basis. Sell-side analysts expect that Box, Inc. will post 0.2 EPS for the current fiscal year.

Insider Activity at BOX

In other BOX news, VP Eli Berkovitch sold 3,300 shares of the stock in a transaction on Friday, June 14th. The stock was sold at an average price of $25.90, for a total value of $85,470.00. Following the sale, the vice president now directly owns 152,372 shares of the company’s stock, valued at $3,946,434.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Jack R. Lazar sold 7,000 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $32.68, for a total transaction of $228,760.00. Following the completion of the transaction, the director now directly owns 29,197 shares in the company, valued at $954,157.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Eli Berkovitch sold 3,300 shares of the stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $25.90, for a total value of $85,470.00. Following the completion of the transaction, the vice president now directly owns 152,372 shares of the company’s stock, valued at $3,946,434.80. The disclosure for this sale can be found here. Insiders sold 66,560 shares of company stock worth $1,785,200 in the last 90 days. 4.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

BOX has been the subject of several recent analyst reports. Citigroup raised their target price on BOX from $32.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. Royal Bank of Canada restated an “underperform” rating and set a $21.00 price objective on shares of BOX in a research note on Wednesday, August 28th. StockNews.com raised BOX from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 15th. Morgan Stanley decreased their price target on shares of BOX from $32.00 to $30.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 29th. Finally, Monness Crespi & Hardt upgraded shares of BOX to a “hold” rating in a research note on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, BOX has an average rating of “Moderate Buy” and an average price target of $30.89.

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 work with their content as they need from secure external collaboration and sharing, workspaces and portals, e-signature processes, and content workflows improving employee productivity and accelerating business processes.