Allspring Global Investments Holdings LLC Decreases Position in Box, Inc. (NYSE:BOX)

Allspring Global Investments Holdings LLC decreased its position in Box, Inc. (NYSE:BOX) by 12.9% during the third quarter, Holdings Channel.com reports. The fund owned 14,021 shares of the software maker’s stock after selling 2,073 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in BOX were worth $459,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of BOX. GAMMA Investing LLC boosted its position in shares of BOX by 143.1% in the 3rd quarter. GAMMA Investing LLC now owns 1,337 shares of the software maker’s stock worth $44,000 after purchasing an additional 787 shares in the last quarter. Quarry LP boosted its stake in shares of BOX by 324.6% during the 2nd quarter. Quarry LP now owns 1,418 shares of the software maker’s stock worth $37,000 after acquiring an additional 1,084 shares during the last quarter. Toronto Dominion Bank purchased a new position in shares of BOX during the 2nd quarter valued at $53,000. Nisa Investment Advisors LLC lifted its stake in shares of BOX by 31.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,627 shares of the software maker’s stock valued at $69,000 after buying an additional 632 shares in the last quarter. Finally, Quest Partners LLC bought a new stake in BOX in the 2nd quarter valued at $95,000. Hedge funds and other institutional investors own 86.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on BOX shares. Royal Bank of Canada reissued an “underperform” rating and issued a $21.00 price objective on shares of BOX in a research report on Wednesday, August 28th. StockNews.com raised shares of BOX from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 15th. Morgan Stanley increased their target price on shares of BOX from $30.00 to $33.00 and gave the company an “equal weight” rating in a research report on Thursday, September 5th. Citigroup raised their price objective on shares of BOX from $32.00 to $34.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Finally, UBS Group lifted their price target on shares of BOX from $31.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, August 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’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $31.22.

Insider Activity

In other news, CFO Dylan C. Smith sold 13,000 shares of BOX stock in a transaction on Friday, August 9th. The shares were sold at an average price of $27.05, for a total value of $351,650.00. Following the transaction, the chief financial officer now directly owns 1,513,661 shares of the company’s stock, valued at $40,944,530.05. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other BOX news, CEO Aaron Levie sold 10,000 shares of the business’s 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 transaction, the chief executive officer now directly owns 3,009,155 shares of the company’s stock, valued at approximately $99,061,382.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Dylan C. Smith sold 13,000 shares of the business’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $27.05, for a total transaction of $351,650.00. Following the sale, the chief financial officer now owns 1,513,661 shares in the company, valued at $40,944,530.05. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 56,000 shares of company stock valued at $1,759,940 in the last ninety days. 4.10% of the stock is currently owned by company insiders.

BOX Trading Up 0.5 %

BOX stock opened at $31.92 on Friday. Box, Inc. has a twelve month low of $23.29 and a twelve month high of $33.95. The company’s 50 day moving average is $32.30 and its two-hundred day moving average is $28.64. The stock has a market cap of $4.57 billion, a P/E ratio of 40.41 and a beta of 0.85.

BOX (NYSE:BOX) last announced its earnings results on Tuesday, August 27th. The software maker reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.04. The business had revenue of $270.04 million for the quarter, compared to analysts’ expectations of $269.52 million. BOX had a net margin of 13.94% and a negative return on equity of 14.41%. The company’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.01 EPS. On average, equities research analysts predict that Box, Inc. will post 0.23 earnings per share for the current year.

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.