Arizona State Retirement System Sells 346 Shares of Box, Inc. (NYSE:BOX)

Arizona State Retirement System lessened its position in shares of Box, Inc. (NYSE:BOX) by 0.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,221 shares of the software maker’s stock after selling 346 shares during the period. Arizona State Retirement System’s holdings in BOX were worth $1,272,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in BOX. Thurston Springer Miller Herd & Titak Inc. lifted its position in BOX by 332.5% during the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 865 shares of the software maker’s stock worth $27,000 after acquiring an additional 665 shares during the last quarter. MorganRosel Wealth Management LLC bought a new position in shares of BOX during the first quarter worth approximately $31,000. Versant Capital Management Inc increased its holdings in shares of BOX by 519.4% during the first quarter. Versant Capital Management Inc now owns 1,951 shares of the software maker’s stock worth $60,000 after purchasing an additional 1,636 shares during the period. TD Waterhouse Canada Inc. increased its holdings in shares of BOX by 42.4% during the fourth quarter. TD Waterhouse Canada Inc. now owns 2,194 shares of the software maker’s stock worth $69,000 after purchasing an additional 653 shares during the period. Finally, Farther Finance Advisors LLC increased its holdings in shares of BOX by 19.3% during the fourth quarter. Farther Finance Advisors LLC now owns 2,579 shares of the software maker’s stock worth $81,000 after purchasing an additional 417 shares during the period. Institutional investors own 86.74% of the company’s stock.

Insider Buying and Selling at BOX

In other news, Director Dana L. Evan sold 7,590 shares of BOX stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $33.51, for a total transaction of $254,340.90. Following the sale, the director owned 115,725 shares in the company, valued at $3,877,944.75. This trade represents a 6.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Aaron Levie sold 15,000 shares of the firm’s stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $33.35, for a total value of $500,250.00. Following the transaction, the chief executive officer owned 2,952,030 shares of the company’s stock, valued at approximately $98,450,200.50. The trade was a 0.51% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 109,017 shares of company stock valued at $3,813,741 in the last ninety days. 3.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. UBS Group upgraded shares of BOX from a “buy” rating to a “strong-buy” rating and raised their target price for the company from $37.00 to $40.00 in a research report on Wednesday, May 28th. JPMorgan Chase & Co. lifted their price target on shares of BOX from $37.00 to $39.00 and gave the stock an “overweight” rating in a report on Wednesday, May 28th. Royal Bank Of Canada lifted their price target on shares of BOX from $21.00 to $24.00 and gave the stock an “underperform” rating in a report on Wednesday, May 28th. Raymond James Financial reiterated an “outperform” rating and set a $42.00 price target (up previously from $38.00) on shares of BOX in a report on Wednesday, May 28th. Finally, Wall Street Zen lowered shares of BOX from a “buy” rating to a “hold” rating in a report on Sunday, June 29th. One analyst has rated the stock with a sell rating, two have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, BOX currently has an average rating of “Moderate Buy” and an average price target of $38.50.

BOX Stock Down 0.2%

Shares of BOX stock opened at $32.41 on Friday. The stock has a fifty day moving average of $34.12 and a 200 day moving average of $32.57. The firm has a market capitalization of $4.66 billion, a price-to-earnings ratio of 25.12 and a beta of 0.90. Box, Inc. has a 52 week low of $25.96 and a 52 week high of $38.80.

BOX (NYSE:BOX) last released its quarterly earnings data on Tuesday, May 27th. The software maker reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.05. The business had revenue of $276.27 million during the quarter, compared to analyst estimates of $274.77 million. BOX had a net margin of 21.38% and a negative return on equity of 20.17%. BOX’s revenue was up 4.4% compared to the same quarter last year. During the same period last year, the business earned $0.39 EPS. Equities research analysts anticipate that Box, Inc. will post 0.27 earnings per share for the current year.

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.