Mirae Asset Global Investments Co. Ltd. Reduces Stock Position in Box, Inc. (NYSE:BOX)

Mirae Asset Global Investments Co. Ltd. decreased its holdings in Box, Inc. (NYSE:BOX) by 12.1% during the third quarter, HoldingsChannel.com reports. The firm owned 30,801 shares of the software maker’s stock after selling 4,235 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in BOX were worth $1,009,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in BOX by 14.9% in the 1st quarter. Vanguard Group Inc. now owns 17,313,882 shares of the software maker’s stock worth $490,329,000 after buying an additional 2,249,082 shares during the period. Earnest Partners LLC grew its stake in BOX by 8.5% in the 2nd quarter. Earnest Partners LLC now owns 7,960,924 shares of the software maker’s stock worth $210,487,000 after acquiring an additional 620,450 shares in the last quarter. Sei Investments Co. increased its position in shares of BOX by 4.2% during the second quarter. Sei Investments Co. now owns 3,078,857 shares of the software maker’s stock worth $81,405,000 after acquiring an additional 125,435 shares during the period. Dimensional Fund Advisors LP increased its position in shares of BOX by 9.8% during the second quarter. Dimensional Fund Advisors LP now owns 2,564,668 shares of the software maker’s stock worth $67,809,000 after acquiring an additional 229,314 shares during the period. Finally, Jacobs Levy Equity Management Inc. raised its stake in shares of BOX by 19.4% during the first quarter. Jacobs Levy Equity Management Inc. now owns 2,374,580 shares of the software maker’s stock valued at $67,248,000 after acquiring an additional 386,149 shares in the last quarter. 86.74% of the stock is currently owned by institutional investors.

BOX Stock Up 0.5 %

NYSE BOX opened at $31.92 on Friday. Box, Inc. has a 52 week low of $23.29 and a 52 week high of $33.95. The company has a 50 day moving average price of $32.30 and a 200 day moving average price of $28.64. The firm has a market cap of $4.57 billion, a PE ratio of 40.41 and a beta of 0.85.

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

Analyst Ratings Changes

Several research analysts have commented on BOX shares. Morgan Stanley raised their price objective on BOX from $30.00 to $33.00 and gave the stock an “equal weight” rating in a report on Thursday, September 5th. StockNews.com upgraded BOX from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 15th. Monness Crespi & Hardt raised shares of BOX to a “hold” rating in a research note on Friday, August 16th. Royal Bank of Canada reissued an “underperform” rating and set a $21.00 target price on shares of BOX in a research report on Wednesday, August 28th. Finally, Citigroup upped their price target on shares of BOX from $32.00 to $34.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. One equities 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 given a strong buy rating to the stock. According to MarketBeat.com, BOX currently has an average rating of “Moderate Buy” and an average price target of $31.22.

Insider Activity at BOX

In other BOX news, CFO Dylan C. Smith sold 13,000 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was 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 owns 1,513,661 shares of the company’s stock, valued at approximately $40,944,530.05. This trade 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 can be accessed through the SEC website. In other BOX news, CFO Dylan C. Smith sold 13,000 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer now owns 1,513,661 shares of the company’s stock, valued at approximately $40,944,530.05. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 sale, the director now owns 29,197 shares of the company’s stock, valued at $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. Insiders have sold 56,000 shares of company stock valued at $1,759,940 in the last ninety days. Corporate insiders own 4.10% of the company’s stock.

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.