Harbor Capital Advisors Inc. Cuts Stake in Box, Inc. (NYSE:BOX)

Harbor Capital Advisors Inc. lowered its stake in shares of Box, Inc. (NYSE:BOX) by 2.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,333 shares of the software maker’s stock after selling 623 shares during the period. Harbor Capital Advisors Inc.’s holdings in BOX were worth $829,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of BOX by 14.9% during the first quarter. Vanguard Group Inc. now owns 17,313,882 shares of the software maker’s stock worth $490,329,000 after purchasing an additional 2,249,082 shares in the last quarter. Earnest Partners LLC grew its stake in BOX by 8.5% during the 2nd quarter. Earnest Partners LLC now owns 7,960,924 shares of the software maker’s stock valued at $210,487,000 after acquiring an additional 620,450 shares in the last quarter. Sei Investments Co. grew its stake in BOX by 4.2% during the 2nd quarter. Sei Investments Co. now owns 3,078,857 shares of the software maker’s stock valued at $81,405,000 after acquiring an additional 125,435 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in BOX by 9.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,564,668 shares of the software maker’s stock valued at $67,809,000 after acquiring an additional 229,314 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its stake in BOX by 19.4% during the 1st 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. Hedge funds and other institutional investors own 86.74% of the company’s stock.

BOX Stock Performance

Shares of BOX stock opened at $33.55 on Thursday. Box, Inc. has a one year low of $23.29 and a one year high of $33.95. The firm’s 50 day moving average price is $32.46 and its 200-day moving average price is $28.76. The firm has a market cap of $4.81 billion, a P/E ratio of 41.51 and a beta of 0.85.

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, topping 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 firm had revenue of $270.04 million for the quarter, compared to analyst estimates of $269.52 million. During the same quarter in the prior year, the company earned $0.01 EPS. BOX’s revenue was up 3.3% on a year-over-year basis. As a group, research analysts predict that Box, Inc. will post 0.23 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on BOX shares. UBS Group upped their price objective on shares of BOX from $31.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. Citigroup upped their price objective 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. Royal Bank of Canada reiterated an “underperform” rating and issued a $21.00 target price on shares of BOX in a report on Wednesday, August 28th. Monness Crespi & Hardt upgraded shares of BOX to a “hold” rating in a report on Friday, August 16th. Finally, Morgan Stanley boosted their target price on shares of BOX from $30.00 to $33.00 and gave the company an “equal weight” rating in a report on Thursday, September 5th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $31.22.

Insider Buying and Selling

In related news, CEO Aaron Levie sold 10,000 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $32.92, for a total transaction of $329,200.00. Following the transaction, the chief executive officer now owns 3,009,155 shares of the company’s stock, valued at approximately $99,061,382.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other BOX news, CFO Dylan C. Smith sold 13,000 shares of the 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 sale, the chief financial officer now owns 1,513,661 shares of the company’s stock, valued at $40,944,530.05. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Aaron Levie sold 10,000 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $32.92, for a total value of $329,200.00. Following the completion of the sale, the chief executive officer now directly owns 3,009,155 shares in the company, valued at $99,061,382.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 56,000 shares of company stock valued at $1,759,940. Corporate insiders own 4.10% of the company’s stock.

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.