Cerity Partners LLC Buys Shares of 45,189 Box, Inc. (NYSE:BOX)

Cerity Partners LLC bought a new stake in Box, Inc. (NYSE:BOX) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 45,189 shares of the software maker’s stock, valued at approximately $1,395,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC grew its stake in shares of BOX by 7.1% during the fourth quarter. Commonwealth Equity Services LLC now owns 9,887 shares of the software maker’s stock worth $312,000 after acquiring an additional 659 shares during the last quarter. Cibc World Markets Corp purchased a new stake in shares of BOX during the fourth quarter worth about $416,000. Xponance Inc. grew its stake in shares of BOX by 6.4% during the fourth quarter. Xponance Inc. now owns 14,516 shares of the software maker’s stock worth $459,000 after acquiring an additional 876 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in BOX in the fourth quarter valued at approximately $1,991,000. Finally, LPL Financial LLC boosted its position in BOX by 11.1% in the fourth quarter. LPL Financial LLC now owns 20,757 shares of the software maker’s stock valued at $656,000 after buying an additional 2,066 shares during the last quarter. Hedge funds and other institutional investors own 86.74% of the company’s stock.

BOX Trading Up 1.2%

Shares of BOX stock opened at $32.81 on Tuesday. The business’s 50 day moving average is $34.12 and its two-hundred day moving average is $32.58. Box, Inc. has a twelve month low of $25.96 and a twelve month high of $38.80. The company has a market capitalization of $4.72 billion, a P/E ratio of 25.43 and a beta of 0.90.

BOX (NYSE:BOX) last announced its earnings results on Tuesday, May 27th. The software maker reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.05. The company had revenue of $276.27 million during the quarter, compared to analysts’ expectations of $274.77 million. BOX had a net margin of 21.38% and a negative return on equity of 20.17%. The firm’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.39 earnings per share. As a group, equities analysts predict that Box, Inc. will post 0.27 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on BOX. UBS Group upgraded BOX from a “buy” rating to a “strong-buy” rating and upped their target price for the company from $37.00 to $40.00 in a research report on Wednesday, May 28th. JPMorgan Chase & Co. upped their target price on BOX from $37.00 to $39.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 28th. Royal Bank Of Canada upped their target price on BOX from $21.00 to $24.00 and gave the stock an “underperform” rating in a research note on Wednesday, May 28th. DA Davidson set a $45.00 target price on BOX and gave the stock a “buy” rating in a research note on Wednesday, May 28th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $42.00 price objective (up from $38.00) on shares of BOX in a research note on Wednesday, May 28th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $38.50.

Insider Transactions at BOX

In other BOX news, Director Dana L. Evan sold 7,590 shares of the company’s stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $33.51, for a total transaction of $254,340.90. Following the completion of the sale, the director directly owned 115,725 shares in the company, valued at $3,877,944.75. This represents a 6.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Eli Berkovitch sold 5,924 shares of the company’s stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $37.70, for a total value of $223,334.80. Following the sale, the vice president owned 138,770 shares of the company’s stock, valued at $5,231,629. This represents a 4.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 106,912 shares of company stock valued at $3,751,601. Corporate insiders own 3.90% of the company’s stock.

BOX Profile

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.