Oppenheimer Asset Management Inc. Lowers Stake in Box, Inc. (NYSE:BOX)

Oppenheimer Asset Management Inc. cut its position in shares of Box, Inc. (NYSE:BOX) by 20.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 45,257 shares of the software maker’s stock after selling 11,601 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in BOX were worth $1,282,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Cornercap Investment Counsel Inc. grew its holdings in shares of BOX by 2.1% during the fourth quarter. Cornercap Investment Counsel Inc. now owns 18,189 shares of the software maker’s stock worth $466,000 after buying an additional 376 shares in the last quarter. Renaissance Group LLC grew its holdings in shares of BOX by 1.0% during the fourth quarter. Renaissance Group LLC now owns 70,731 shares of the software maker’s stock worth $1,812,000 after buying an additional 671 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of BOX by 14.4% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,207 shares of the software maker’s stock worth $154,000 after buying an additional 782 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of BOX by 9.5% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 9,661 shares of the software maker’s stock worth $247,000 after buying an additional 841 shares in the last quarter. Finally, Blue Trust Inc. boosted its position in shares of BOX by 17.0% in the fourth quarter. Blue Trust Inc. now owns 6,165 shares of the software maker’s stock worth $149,000 after acquiring an additional 897 shares during the last quarter. 86.74% of the stock is currently owned by hedge funds and other institutional investors.

BOX Stock Up 3.0 %

Shares of BOX stock opened at $26.21 on Monday. The stock has a market cap of $3.78 billion, a price-to-earnings ratio of 35.90, a price-to-earnings-growth ratio of 7.53 and a beta of 0.86. The firm’s 50 day moving average price is $26.24 and its two-hundred day moving average price is $26.64. Box, Inc. has a fifty-two week low of $23.29 and a fifty-two week high of $31.94.

BOX (NYSE:BOX) last posted its quarterly earnings data on Tuesday, May 28th. The software maker reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.03. The company had revenue of $264.66 million for the quarter, compared to analyst estimates of $261.65 million. BOX had a net margin of 13.13% and a negative return on equity of 11.71%. On average, equities analysts forecast that Box, Inc. will post 0.17 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on BOX shares. StockNews.com raised shares of BOX from a “buy” rating to a “strong-buy” rating in a research report on Thursday, April 11th. Oppenheimer reissued an “outperform” rating and issued a $35.00 target price on shares of BOX in a research report on Wednesday, May 29th. Morgan Stanley decreased their target price on shares of BOX from $32.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 29th. UBS Group decreased their target price on shares of BOX from $34.00 to $31.00 and set a “buy” rating on the stock in a research report on Wednesday, May 29th. Finally, Royal Bank of Canada reissued an “underperform” rating and issued a $21.00 target price on shares of BOX in a research report on Wednesday, May 29th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $30.33.

Insider Activity

In other news, CFO Dylan C. Smith sold 13,000 shares of BOX stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $26.38, for a total transaction of $342,940.00. Following the sale, the chief financial officer now owns 1,552,912 shares in the company, valued at $40,965,818.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, VP Eli Berkovitch sold 3,300 shares of BOX stock in a transaction on Friday, June 14th. The shares were sold at an average price of $25.90, for a total value of $85,470.00. Following the completion of the sale, the vice president now owns 152,372 shares in the company, valued at $3,946,434.80. 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 BOX stock in a transaction on Monday, June 10th. The stock was sold at an average price of $26.38, for a total transaction of $342,940.00. Following the completion of the sale, the chief financial officer now owns 1,552,912 shares of the company’s stock, valued at approximately $40,965,818.56. The disclosure for this sale can be found here. Insiders have sold 59,560 shares of company stock worth $1,543,830 over the last 90 days. Company 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.