Box, Inc. (NYSE:BOX) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue cut its position in Box, Inc. (NYSE:BOX) by 2.0% during the third quarter, Holdings Channel reports. The firm owned 83,024 shares of the software maker’s stock after selling 1,729 shares during the period. State of Alaska Department of Revenue’s holdings in BOX were worth $2,717,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently modified their holdings of the company. Quarry LP boosted its position in 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 buying an additional 1,084 shares during the last quarter. GAMMA Investing LLC lifted its stake 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. Toronto Dominion Bank purchased a new stake in shares of BOX in the 2nd quarter valued at $53,000. Nisa Investment Advisors LLC increased its stake in shares of BOX by 31.7% in the second quarter. Nisa Investment Advisors LLC now owns 2,627 shares of the software maker’s stock worth $69,000 after acquiring an additional 632 shares during the period. Finally, Quest Partners LLC purchased a new position in shares of BOX during the second quarter worth $95,000. 86.74% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at BOX

In other BOX news, CFO Dylan C. Smith sold 13,000 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $27.05, for a total transaction of $351,650.00. Following the completion of the transaction, the chief financial officer now owns 1,513,661 shares of the company’s stock, valued at $40,944,530.05. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Jack R. Lazar sold 7,000 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $32.68, for a total value of $228,760.00. Following the completion of the sale, the director now directly owns 29,197 shares in the company, valued at $954,157.96. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Dylan C. Smith sold 13,000 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $27.05, for a total value of $351,650.00. Following the completion of the sale, the chief financial officer now directly owns 1,513,661 shares of the company’s stock, valued at approximately $40,944,530.05. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 56,000 shares of company stock valued at $1,759,940. 4.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Citigroup upped their price target on shares of BOX from $32.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. Royal Bank of Canada restated an “underperform” rating and issued a $21.00 target price on shares of BOX in a research note on Wednesday, August 28th. Morgan Stanley lifted 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. StockNews.com upgraded BOX from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 15th. Finally, Monness Crespi & Hardt raised shares of BOX to a “hold” rating in a report on Friday, August 16th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, BOX has a consensus rating of “Moderate Buy” and a consensus price target of $31.22.

BOX Price Performance

Shares of BOX stock opened at $31.77 on Friday. The stock has a 50 day simple moving average of $32.24 and a 200-day simple moving average of $28.60. Box, Inc. has a 1-year low of $23.29 and a 1-year high of $33.95. The company has a market cap of $4.55 billion, a price-to-earnings ratio of 40.22 and a beta of 0.85.

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