Box, Inc. $BOX Shares Sold by Cornerstone Capital Inc.

Cornerstone Capital Inc. reduced its position in shares of Box, Inc. (NYSE:BOX) by 9.8% during the second quarter, Holdings Channel.com reports. The fund owned 286,525 shares of the software maker’s stock after selling 31,270 shares during the quarter. Cornerstone Capital Inc.’s holdings in BOX were worth $9,791,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. TCTC Holdings LLC lifted its holdings in BOX by 115.4% in the 1st quarter. TCTC Holdings LLC now owns 825 shares of the software maker’s stock valued at $25,000 after acquiring an additional 442 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in shares of BOX by 7,130.0% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 723 shares of the software maker’s stock worth $25,000 after purchasing an additional 713 shares in the last quarter. Geneos Wealth Management Inc. acquired a new stake in BOX during the first quarter valued at approximately $31,000. Ameritas Advisory Services LLC bought a new stake in BOX during the second quarter worth approximately $41,000. Finally, MassMutual Private Wealth & Trust FSB grew its position in BOX by 692.8% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,316 shares of the software maker’s stock worth $45,000 after buying an additional 1,150 shares during the last quarter. 86.74% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other BOX news, COO Olivia Nottebohm sold 4,612 shares of BOX stock in a transaction on Monday, November 10th. The shares were sold at an average price of $31.35, for a total transaction of $144,586.20. Following the completion of the sale, the chief operating officer owned 497,639 shares of the company’s stock, valued at $15,600,982.65. This trade represents a 0.92% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Dylan C. Smith sold 17,000 shares of the business’s stock in a transaction on Monday, November 10th. The shares were sold at an average price of $31.36, for a total transaction of $533,120.00. Following the transaction, the chief financial officer owned 1,437,013 shares in the company, valued at approximately $45,064,727.68. This represents a 1.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 122,336 shares of company stock worth $3,986,999. Insiders own 3.90% of the company’s stock.

BOX Price Performance

Shares of BOX opened at $30.04 on Tuesday. The company has a market capitalization of $4.35 billion, a price-to-earnings ratio of 24.23 and a beta of 0.87. Box, Inc. has a fifty-two week low of $28.00 and a fifty-two week high of $38.80. The business’s 50-day moving average is $32.10 and its 200-day moving average is $32.84.

BOX (NYSE:BOX) last posted its quarterly earnings results on Tuesday, August 26th. The software maker reported $0.33 EPS for the quarter, topping the consensus estimate of $0.31 by $0.02. BOX had a net margin of 20.30% and a negative return on equity of 21.77%. The business had revenue of $294.00 million during the quarter, compared to analysts’ expectations of $290.19 million. During the same period last year, the company posted $0.44 earnings per share. The firm’s quarterly revenue was up 8.9% compared to the same quarter last year. Equities research analysts expect that Box, Inc. will post 0.27 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently commented on BOX. Royal Bank Of Canada increased their price objective on BOX from $24.00 to $26.00 and gave the company an “underperform” rating in a research report on Wednesday, August 27th. UBS Group downgraded BOX from a “buy” rating to a “neutral” rating and reduced their target price for the company from $42.00 to $36.00 in a report on Thursday, September 18th. Citigroup increased their price target on BOX from $39.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, August 27th. Weiss Ratings restated a “buy (b-)” rating on shares of BOX in a report on Wednesday, October 8th. Finally, Zacks Research cut shares of BOX from a “strong-buy” rating to a “hold” rating in a report on Friday, September 26th. Seven investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $38.25.

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.