First Trust Advisors LP Has $40.96 Million Stake in Box, Inc. $BOX

First Trust Advisors LP trimmed its position in shares of Box, Inc. (NYSE:BOX) by 12.9% during the 2nd quarter, HoldingsChannel reports. The firm owned 1,198,788 shares of the software maker’s stock after selling 177,928 shares during the quarter. First Trust Advisors LP’s holdings in BOX were worth $40,963,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of BOX. Sunriver Management LLC boosted its holdings in shares of BOX by 62.9% during the first quarter. Sunriver Management LLC now owns 1,546,862 shares of the software maker’s stock worth $47,736,000 after purchasing an additional 597,410 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new stake in BOX in the 2nd quarter worth approximately $256,000. Mackenzie Financial Corp boosted its stake in shares of BOX by 15.2% during the 2nd quarter. Mackenzie Financial Corp now owns 560,329 shares of the software maker’s stock valued at $19,146,000 after buying an additional 73,896 shares during the period. Creative Planning boosted its stake in shares of BOX by 84.3% during the 2nd quarter. Creative Planning now owns 39,251 shares of the software maker’s stock valued at $1,341,000 after buying an additional 17,950 shares during the period. Finally, 111 Capital purchased a new position in shares of BOX during the 2nd quarter valued at $659,000. Hedge funds and other institutional investors own 86.74% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Dylan C. Smith sold 17,000 shares of the stock in a transaction that occurred on Friday, October 10th. The stock was sold at an average price of $33.05, for a total transaction of $561,850.00. Following the completion of the sale, the chief financial officer owned 1,454,013 shares in the company, valued at $48,055,129.65. This represents a 1.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jack R. Lazar sold 5,000 shares of BOX stock in a transaction that occurred on Friday, September 26th. The stock was sold at an average price of $32.20, for a total value of $161,000.00. Following the completion of the transaction, the director directly owned 27,855 shares in the company, valued at approximately $896,931. This represents a 15.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 58,836 shares of company stock worth $1,899,944 over the last quarter. 3.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Royal Bank Of Canada increased their price objective on BOX from $24.00 to $26.00 and gave the stock an “underperform” rating in a report on Wednesday, August 27th. Citigroup upped their target price on BOX from $39.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, August 27th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of BOX in a research note on Thursday, December 4th. UBS Group cut BOX from a “buy” rating to a “neutral” rating and lowered their price target for the company from $42.00 to $36.00 in a research note on Thursday, September 18th. Finally, Raymond James Financial restated an “outperform” rating and issued a $42.00 price objective on shares of BOX in a report on Wednesday, August 27th. Six investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $38.25.

BOX Price Performance

BOX stock opened at $31.22 on Wednesday. Box, Inc. has a fifty-two week low of $28.00 and a fifty-two week high of $38.80. The firm has a fifty day moving average price of $31.71 and a two-hundred day moving average price of $32.75. The firm has a market cap of $4.52 billion, a price-to-earnings ratio of 25.17, a P/E/G ratio of 2.48 and a beta of 0.79.

About BOX

Box, Inc engages in the provision of an enterprise content platform that enables organizations to securely manage enterprise content while allowing easy, secure access and sharing of this content from anywhere, on any device. Its products include cloud content management, IT and admin controls, Box Governance, Box Zones, Box Relay, Box Shuttle, and Box KeySafe.