Arizona State Retirement System Decreases Stock Holdings in Box, Inc. (NYSE:BOX)

Arizona State Retirement System trimmed its holdings in Box, Inc. (NYSE:BOX) by 0.8% during the first quarter, HoldingsChannel reports. The firm owned 41,221 shares of the software maker’s stock after selling 346 shares during the period. Arizona State Retirement System’s holdings in BOX were worth $1,272,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in BOX. Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of BOX by 332.5% during the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 865 shares of the software maker’s stock worth $27,000 after purchasing an additional 665 shares in the last quarter. MorganRosel Wealth Management LLC purchased a new stake in BOX in the first quarter valued at $31,000. Versant Capital Management Inc lifted its position in BOX by 519.4% in the first quarter. Versant Capital Management Inc now owns 1,951 shares of the software maker’s stock valued at $60,000 after acquiring an additional 1,636 shares during the last quarter. TD Waterhouse Canada Inc. lifted its position in BOX by 42.4% in the fourth quarter. TD Waterhouse Canada Inc. now owns 2,194 shares of the software maker’s stock valued at $69,000 after acquiring an additional 653 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its position in BOX by 19.3% in the fourth quarter. Farther Finance Advisors LLC now owns 2,579 shares of the software maker’s stock valued at $81,000 after acquiring an additional 417 shares during the last quarter. Institutional investors and hedge funds own 86.74% of the company’s stock.

BOX Trading Down 0.2%

NYSE BOX opened at $32.41 on Friday. The company has a market cap of $4.66 billion, a P/E ratio of 25.12 and a beta of 0.90. The company has a fifty day simple moving average of $34.12 and a 200 day simple moving average of $32.57. Box, Inc. has a 1 year low of $25.96 and a 1 year high of $38.80.

BOX (NYSE:BOX) last announced its earnings results on Tuesday, May 27th. The software maker reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.05. The business had revenue of $276.27 million during the quarter, compared to analysts’ expectations of $274.77 million. BOX had a net margin of 21.38% and a negative return on equity of 20.17%. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter last year, the company posted $0.39 EPS. Equities research analysts forecast that Box, Inc. will post 0.27 EPS for the current fiscal year.

Insider Buying and Selling at BOX

In other news, Director Dana L. Evan sold 7,590 shares of the business’s stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $33.51, for a total value of $254,340.90. Following the completion of the sale, the director owned 115,725 shares of the company’s stock, valued at approximately $3,877,944.75. The trade was a 6.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Dylan C. Smith sold 13,000 shares of the business’s stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $37.23, for a total value of $483,990.00. Following the transaction, the chief financial officer directly owned 1,507,550 shares of the company’s stock, valued at approximately $56,126,086.50. The trade was a 0.85% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 109,017 shares of company stock worth $3,813,741 over the last ninety days. 3.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on BOX. Morgan Stanley reissued a “positive” rating on shares of BOX in a report on Wednesday, May 28th. Raymond James Financial reissued an “outperform” rating and set a $42.00 price target (up from $38.00) on shares of BOX in a report on Wednesday, May 28th. JPMorgan Chase & Co. upped their target price on shares of BOX from $37.00 to $39.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 28th. UBS Group upgraded shares of BOX from a “buy” rating to a “strong-buy” rating and upped their target price for the stock from $37.00 to $40.00 in a research report on Wednesday, May 28th. Finally, DA Davidson set a $45.00 target price on shares of BOX and gave the stock a “buy” rating in a research report on Wednesday, May 28th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, BOX presently has a consensus rating of “Moderate Buy” and an average price target of $38.50.

BOX Profile

Box, Inc engages in the provision of an enterprise content platform that enables organizations to securely manage enterprise content while allowing easy, secure access and sharing of this content from anywhere, on any device. Its products include cloud content management, IT and admin controls, Box Governance, Box Zones, Box Relay, Box Shuttle, and Box KeySafe.