Box, Inc. (NYSE:BOX) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its stake in Box, Inc. (NYSE:BOX) by 4.3% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 760,138 shares of the software maker’s stock after selling 33,861 shares during the quarter. Principal Financial Group Inc. owned 0.53% of BOX worth $24,879,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in BOX. Congress Asset Management Co. acquired a new stake in BOX in the third quarter valued at approximately $46,236,000. Earnest Partners LLC increased its position in shares of BOX by 8.5% in the 2nd quarter. Earnest Partners LLC now owns 7,960,924 shares of the software maker’s stock valued at $210,487,000 after purchasing an additional 620,450 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of BOX by 9.8% in the 2nd 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 in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of BOX by 10.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,371,815 shares of the software maker’s stock worth $44,900,000 after purchasing an additional 134,175 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec acquired a new position in shares of BOX during the third quarter worth $4,314,000. Hedge funds and other institutional investors own 86.74% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on BOX. StockNews.com upgraded BOX from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 13th. Citigroup raised their target price on BOX from $34.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. William Blair restated an “outperform” rating on shares of BOX in a research note on Thursday, November 14th. DA Davidson began coverage on shares of BOX in a research note on Wednesday, December 18th. They issued a “buy” rating and a $45.00 price target on the stock. Finally, Bank of America initiated coverage on shares of BOX in a research report on Thursday, December 12th. They set a “buy” rating and a $40.00 price objective for the company. One research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, BOX currently has a consensus rating of “Moderate Buy” and an average price target of $35.89.

BOX Price Performance

Shares of BOX stock opened at $32.02 on Thursday. The stock has a market capitalization of $4.60 billion, a price-to-earnings ratio of 40.03 and a beta of 0.86. The firm’s fifty day simple moving average is $33.04 and its 200-day simple moving average is $30.45. Box, Inc. has a 12 month low of $24.28 and a 12 month high of $35.74.

Insider Activity

In other BOX news, CFO Dylan C. Smith sold 13,000 shares of the company’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 of the company’s stock, valued at $47,951,032.68. This represents a 0.87 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Eli Berkovitch sold 4,792 shares of BOX stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $32.46, for a total value of $155,548.32. Following the completion of the transaction, the vice president now owns 140,172 shares in the company, valued at $4,549,983.12. This trade represents a 3.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 62,178 shares of company stock valued at $2,046,898. 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.