Box, Inc. (NYSE:BOX) Shares Sold by Citigroup Inc.

Citigroup Inc. lessened its holdings in shares of Box, Inc. (NYSE:BOX) by 0.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 415,164 shares of the software maker’s stock after selling 2,765 shares during the quarter. Citigroup Inc. owned approximately 0.29% of BOX worth $12,812,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Caisse DE Depot ET Placement DU Quebec boosted its stake in BOX by 219.4% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 420,907 shares of the software maker’s stock worth $13,301,000 after buying an additional 289,112 shares during the last quarter. Janus Henderson Group PLC increased its stake in shares of BOX by 126.0% during the 4th quarter. Janus Henderson Group PLC now owns 487,387 shares of the software maker’s stock valued at $15,399,000 after acquiring an additional 271,745 shares during the last quarter. Freestone Grove Partners LP purchased a new position in shares of BOX during the 4th quarter worth about $8,551,000. Raymond James Financial Inc. acquired a new stake in shares of BOX in the fourth quarter worth approximately $8,405,000. Finally, Edgestream Partners L.P. grew its holdings in BOX by 248.8% in the first quarter. Edgestream Partners L.P. now owns 294,887 shares of the software maker’s stock valued at $9,100,000 after purchasing an additional 210,350 shares during the period. Institutional investors and hedge funds own 86.74% of the company’s stock.

BOX Stock Performance

BOX stock opened at $31.06 on Friday. The firm has a market cap of $4.47 billion, a P/E ratio of 24.07 and a beta of 0.96. Box, Inc. has a 1 year low of $27.86 and a 1 year high of $38.80. The stock has a 50-day simple moving average of $33.44 and a 200-day simple moving average of $32.65.

BOX (NYSE:BOX) last issued its quarterly earnings data on Tuesday, May 27th. The software maker reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.05. The company had revenue of $276.27 million during the quarter, compared to the consensus estimate of $274.77 million. BOX had a net margin of 21.38% and a negative return on equity of 20.17%. BOX’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter last year, the company earned $0.39 earnings per share. On average, equities research analysts predict that Box, Inc. will post 0.27 EPS for the current year.

Insider Buying and Selling at BOX

In other news, Director Bethany Mayer sold 5,123 shares of the firm’s stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $34.06, for a total transaction of $174,489.38. Following the completion of the sale, the director directly owned 15,284 shares in the company, valued at $520,573.04. This trade represents a 25.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Dana L. Evan sold 7,590 shares of the business’s stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $33.51, for a total value of $254,340.90. Following the completion of the transaction, the director owned 115,725 shares in the company, valued at approximately $3,877,944.75. This trade represents a 6.15% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 94,504 shares of company stock worth $3,363,371. 3.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. increased their price target on shares of BOX from $37.00 to $39.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 28th. Wall Street Zen lowered BOX from a “buy” rating to a “hold” rating in a research report on Sunday, June 29th. Raymond James Financial reissued an “outperform” rating and set a $42.00 price target (up previously from $38.00) on shares of BOX in a research report on Wednesday, May 28th. DA Davidson set a $45.00 price objective on BOX and gave the stock a “buy” rating in a report on Wednesday, May 28th. Finally, UBS Group raised BOX from a “buy” rating to a “strong-buy” rating and lifted their price objective for the company from $37.00 to $40.00 in a research note on Wednesday, May 28th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, BOX currently has an average rating of “Moderate Buy” and an average target price of $38.50.

About BOX

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.