Arizona State Retirement System Lowers Holdings in Box, Inc. (NYSE:BOX)

Arizona State Retirement System decreased its stake in Box, Inc. (NYSE:BOX) by 2.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 40,267 shares of the software maker’s stock after selling 970 shares during the quarter. Arizona State Retirement System’s holdings in BOX were worth $1,031,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Fairfield Bush & CO. purchased a new stake in shares of BOX in the first quarter worth about $29,000. Quarry LP boosted its stake in shares of BOX by 318.2% in the first quarter. Quarry LP now owns 1,330 shares of the software maker’s stock worth $36,000 after buying an additional 1,012 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new position in BOX during the third quarter worth approximately $38,000. Farther Finance Advisors LLC boosted its position in BOX by 31.8% during the second quarter. Farther Finance Advisors LLC now owns 1,971 shares of the software maker’s stock worth $58,000 after purchasing an additional 475 shares in the last quarter. Finally, Point72 Middle East FZE purchased a new position in BOX during the fourth quarter worth approximately $68,000. Hedge funds and other institutional investors own 86.74% of the company’s stock.

BOX Price Performance

Shares of BOX stock opened at $26.26 on Tuesday. Box, Inc. has a 12 month low of $23.29 and a 12 month high of $31.94. The stock has a market capitalization of $3.79 billion, a P/E ratio of 39.19, a PEG ratio of 9.13 and a beta of 0.84. The business has a 50 day simple moving average of $27.53 and a two-hundred day simple moving average of $26.17.

BOX (NYSE:BOX) last posted its quarterly earnings results on Tuesday, March 5th. The software maker reported $0.09 EPS for the quarter, beating the consensus estimate of $0.02 by $0.07. BOX had a negative return on equity of 9.46% and a net margin of 12.43%. The firm had revenue of $262.88 million during the quarter, compared to analysts’ expectations of $262.92 million. As a group, research analysts anticipate that Box, Inc. will post 0.15 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have issued reports on BOX. UBS Group increased their price target on BOX from $33.00 to $34.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. TheStreet upgraded BOX from a “c” rating to a “b” rating in a research report on Tuesday, March 5th. JPMorgan Chase & Co. increased their price target on BOX from $31.00 to $32.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 6th. JMP Securities reiterated a “market outperform” rating and set a $32.00 price target on shares of BOX in a research report on Wednesday, March 20th. Finally, Citigroup increased their price target on BOX from $29.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, one has given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $30.89.

Insider Activity at BOX

In related news, CFO Dylan C. Smith sold 13,000 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $27.47, for a total value of $357,110.00. Following the completion of the sale, the chief financial officer now owns 1,408,702 shares of the company’s stock, valued at $38,697,043.94. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other BOX news, CEO Aaron Levie sold 10,000 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $29.47, for a total transaction of $294,700.00. Following the completion of the sale, the chief executive officer now owns 3,048,653 shares of the company’s stock, valued at $89,843,803.91. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Dylan C. Smith sold 13,000 shares of the firm’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $27.47, for a total value of $357,110.00. Following the sale, the chief financial officer now directly owns 1,408,702 shares of the company’s stock, valued at approximately $38,697,043.94. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 133,660 shares of company stock valued at $3,792,204. 4.90% of the stock is currently owned by insiders.

BOX Company 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.