Oppenheimer Asset Management Inc. Decreases Stock Position in Box, Inc. (NYSE:BOX)

Oppenheimer Asset Management Inc. lessened its holdings in Box, Inc. (NYSE:BOX) by 1.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 54,624 shares of the software maker’s stock after selling 994 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in BOX were worth $1,788,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of BOX. Vanguard Group Inc. lifted 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 buying an additional 2,249,082 shares during the period. Congress Asset Management Co. purchased a new position in BOX in the 3rd quarter worth $46,236,000. Earnest Partners LLC lifted its position in BOX by 10.5% during the 1st quarter. Earnest Partners LLC now owns 7,340,474 shares of the software maker’s stock worth $207,882,000 after acquiring an additional 699,882 shares during the period. 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 purchasing an additional 386,149 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of BOX by 9.8% in the second quarter. Dimensional Fund Advisors LP now owns 2,564,668 shares of the software maker’s stock valued at $67,809,000 after purchasing an additional 229,314 shares during the period. Hedge funds and other institutional investors own 86.74% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on BOX shares. UBS Group lifted their target price on BOX from $31.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. StockNews.com upgraded shares of BOX from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 15th. Citigroup increased their price objective on shares of BOX from $32.00 to $34.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. Monness Crespi & Hardt upgraded shares of BOX to a “hold” rating in a research report on Friday, August 16th. Finally, Royal Bank of Canada reaffirmed an “underperform” rating and set a $21.00 price target on shares of BOX in a research report on Wednesday, August 28th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, BOX presently has an average rating of “Moderate Buy” and a consensus target price of $31.22.

BOX Stock Down 2.2 %

BOX stock opened at $33.53 on Monday. Box, Inc. has a 52-week low of $23.29 and a 52-week high of $35.07. The firm has a market cap of $4.80 billion, a P/E ratio of 42.44 and a beta of 0.85. The company’s 50-day simple moving average is $32.71 and its 200-day simple moving average is $29.17.

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

Insider Buying and Selling

In related news, CFO Dylan C. Smith sold 13,000 shares of the business’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $32.52, for a total transaction of $422,760.00. Following the completion of the sale, the chief financial officer now directly owns 1,474,509 shares in the company, valued at approximately $47,951,032.68. The trade was a 0.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Aaron Levie sold 10,000 shares of the stock in a transaction on 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 transaction, the chief executive officer now directly owns 3,009,155 shares of the company’s stock, valued at approximately $99,061,382.60. This represents a 0.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 58,500 shares of company stock valued at $1,939,895. 4.10% of the stock is owned by corporate insiders.

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.