Covestor Ltd Sells 1,021 Shares of Box, Inc. (NYSE:BOX)

Covestor Ltd reduced its holdings in shares of Box, Inc. (NYSE:BOX) by 31.1% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 2,265 shares of the software maker’s stock after selling 1,021 shares during the quarter. Covestor Ltd’s holdings in BOX were worth $74,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of BOX. GAMMA Investing LLC raised its holdings in BOX by 143.1% during the 3rd quarter. GAMMA Investing LLC now owns 1,337 shares of the software maker’s stock valued at $44,000 after acquiring an additional 787 shares during the period. Quarry LP grew its position in shares of BOX by 324.6% in the second quarter. Quarry LP now owns 1,418 shares of the software maker’s stock valued at $37,000 after purchasing an additional 1,084 shares in the last quarter. Toronto Dominion Bank bought a new stake in shares of BOX during the 2nd quarter valued at $53,000. Farther Finance Advisors LLC lifted its holdings in BOX by 245.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,162 shares of the software maker’s stock worth $71,000 after purchasing an additional 1,536 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its stake in BOX by 31.7% in the 2nd 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 during the period. 86.74% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

BOX has been the topic of several analyst reports. Morgan Stanley upped their price target on BOX from $30.00 to $33.00 and gave the company an “equal weight” rating in a research report on Thursday, September 5th. Citigroup upped their target price on shares of BOX from $32.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Monness Crespi & Hardt raised shares of BOX to a “hold” rating in a report on Friday, August 16th. StockNews.com raised shares of BOX from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 15th. Finally, Royal Bank of Canada reissued an “underperform” rating and set a $21.00 price objective on shares of BOX in a research note on Wednesday, August 28th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, BOX presently has a consensus rating of “Moderate Buy” and an average target price of $31.22.

BOX Stock Up 1.3 %

NYSE BOX opened at $34.67 on Thursday. The stock’s 50-day simple moving average is $32.65 and its two-hundred day simple moving average is $29.04. Box, Inc. has a twelve month low of $23.29 and a twelve month high of $35.07. The company has a market capitalization of $4.97 billion, a price-to-earnings ratio of 43.89 and a beta of 0.85.

BOX (NYSE:BOX) last announced its quarterly earnings data on Tuesday, August 27th. The software maker reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.04. The company had revenue of $270.04 million for the quarter, compared to analysts’ expectations of $269.52 million. BOX had a negative return on equity of 14.41% and a net margin of 13.94%. BOX’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period last year, the firm posted $0.01 EPS. On average, equities analysts expect that Box, Inc. will post 0.23 earnings per share for the current fiscal year.

Insider Transactions at BOX

In related news, Director Jack R. Lazar sold 7,000 shares of BOX 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 transaction, the director now owns 29,197 shares in the company, valued at $954,157.96. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Dylan C. Smith sold 13,000 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $32.89, for a total transaction of $427,570.00. Following the completion of the sale, the chief financial officer now owns 1,500,661 shares of the company’s stock, valued at approximately $49,356,740.29. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jack R. Lazar sold 7,000 shares of BOX stock in a transaction 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 approximately $954,157.96. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 56,000 shares of company stock worth $1,853,020. 4.10% of the stock is currently owned by insiders.

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.