Principal Financial Group Inc. Has $20.99 Million Holdings in Box, Inc. (NYSE:BOX)

Principal Financial Group Inc. lessened its position in Box, Inc. (NYSE:BOX) by 2.4% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 793,999 shares of the software maker’s stock after selling 19,235 shares during the quarter. Principal Financial Group Inc.’s holdings in BOX were worth $20,993,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. TFO Wealth Partners LLC raised its stake in BOX by 62,000.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,863 shares of the software maker’s stock valued at $48,000 after purchasing an additional 1,860 shares during the period. Nisa Investment Advisors LLC raised its position in BOX by 31.7% during the second quarter. Nisa Investment Advisors LLC now owns 2,627 shares of the software maker’s stock valued at $69,000 after buying an additional 632 shares during the period. Covestor Ltd raised its position in BOX by 27.3% during the first quarter. Covestor Ltd now owns 4,312 shares of the software maker’s stock valued at $122,000 after buying an additional 924 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in BOX by 14.4% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,207 shares of the software maker’s stock worth $154,000 after acquiring an additional 782 shares in the last quarter. Finally, Neo Ivy Capital Management acquired a new stake in BOX during the 4th quarter worth about $156,000. Institutional investors and hedge funds own 86.74% of the company’s stock.

BOX Stock Performance

BOX opened at $32.08 on Wednesday. The company has a market cap of $4.63 billion, a PE ratio of 43.95 and a beta of 0.86. The stock has a 50-day moving average of $27.61 and a 200-day moving average of $27.21. Box, Inc. has a 52-week low of $23.29 and a 52-week high of $33.45.

BOX (NYSE:BOX) last announced its quarterly earnings results on Tuesday, August 27th. The software maker reported $0.44 EPS for the quarter, beating the consensus estimate of $0.40 by $0.04. BOX had a negative return on equity of 14.41% and a net margin of 13.94%. The company had revenue of $270.04 million for the quarter, compared to the consensus estimate of $269.52 million. During the same quarter last year, the company posted $0.01 earnings per share. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, research analysts predict that Box, Inc. will post 0.2 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on BOX shares. Oppenheimer reissued an “outperform” rating and issued a $35.00 price target on shares of BOX in a research report on Wednesday, May 29th. UBS Group boosted their price target on shares of BOX from $31.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. Monness Crespi & Hardt upgraded BOX to a “hold” rating in a report on Friday, August 16th. Citigroup lifted their price objective on BOX from $32.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. Finally, StockNews.com raised BOX from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $30.89.

Insider Buying and Selling

In other BOX news, CFO Dylan C. Smith sold 13,000 shares of the company’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $24.97, for a total transaction of $324,610.00. Following the completion of the sale, the chief financial officer now directly owns 1,526,661 shares in the company, valued at $38,120,725.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other BOX news, CFO Dylan C. Smith sold 13,000 shares of BOX stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $24.97, for a total value of $324,610.00. Following the transaction, the chief financial officer now directly owns 1,526,661 shares of the company’s stock, valued at approximately $38,120,725.17. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Eli Berkovitch sold 2,500 shares of the stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $25.25, for a total value of $63,125.00. Following the completion of the sale, the vice president now directly owns 147,232 shares of the company’s stock, valued at $3,717,608. The disclosure for this sale can be found here. Insiders have sold 66,560 shares of company stock worth $1,785,200 in the last quarter. 4.10% of the stock is currently owned by company insiders.

BOX Company 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.