Varma Mutual Pension Insurance Co Sells 246,100 Shares of Box, Inc. (NYSE:BOX)

Varma Mutual Pension Insurance Co lessened its stake in Box, Inc. (NYSE:BOX) by 52.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 224,600 shares of the software maker’s stock after selling 246,100 shares during the period. Varma Mutual Pension Insurance Co’s holdings in BOX were worth $5,938,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. TFO Wealth Partners LLC raised its stake in shares of BOX by 62,000.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,863 shares of the software maker’s stock worth $48,000 after acquiring an additional 1,860 shares in the last quarter. Nisa Investment Advisors LLC increased its position in shares of BOX by 31.7% during the second quarter. Nisa Investment Advisors LLC now owns 2,627 shares of the software maker’s stock worth $69,000 after purchasing an additional 632 shares in the last quarter. Covestor Ltd lifted its holdings in shares of BOX by 27.3% during the 1st quarter. Covestor Ltd now owns 4,312 shares of the software maker’s stock valued at $122,000 after purchasing an additional 924 shares during the last quarter. Central Pacific Bank Trust Division acquired a new stake in shares of BOX in the 1st quarter worth $174,000. Finally, Neo Ivy Capital Management purchased a new position in BOX during the 4th quarter worth $156,000. 86.74% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on BOX. Oppenheimer reiterated an “outperform” rating and issued a $35.00 price target on shares of BOX in a research note on Wednesday, May 29th. Monness Crespi & Hardt raised shares of BOX to a “hold” rating in a research report on Friday, August 16th. Morgan Stanley lifted their target price on shares of BOX from $30.00 to $33.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 5th. Citigroup upped their price target on shares of BOX from $32.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. Finally, StockNews.com upgraded shares of BOX from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 15th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, BOX has an average rating of “Moderate Buy” and an average price target of $31.22.

Insider Transactions at BOX

In related news, VP Eli Berkovitch sold 3,300 shares of BOX stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $25.90, for a total transaction of $85,470.00. Following the completion of the transaction, the vice president now directly owns 152,372 shares in the company, valued at $3,946,434.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Jack R. Lazar sold 7,000 shares of the business’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $32.68, for a total value of $228,760.00. Following the completion of the transaction, the director now directly owns 29,197 shares in the company, valued at approximately $954,157.96. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Eli Berkovitch sold 3,300 shares of the firm’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $25.90, for a total transaction of $85,470.00. Following the sale, the vice president now owns 152,372 shares in the company, valued at approximately $3,946,434.80. The disclosure for this sale can be found here. Insiders have sold 53,560 shares of company stock worth $1,442,260 over the last quarter. 4.10% of the stock is currently owned by insiders.

BOX Trading Up 0.3 %

Shares of NYSE BOX opened at $32.53 on Tuesday. The stock has a market cap of $4.66 billion, a price-to-earnings ratio of 44.56 and a beta of 0.85. Box, Inc. has a 12 month low of $23.29 and a 12 month high of $33.45. The company has a 50 day simple moving average of $28.12 and a two-hundred day simple moving average of $27.42.

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

About BOX

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.