Smith Group Asset Management LLC Grows Stake in Box, Inc. (NYSE:BOX)

Smith Group Asset Management LLC boosted its position in Box, Inc. (NYSE:BOX) by 25.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,238 shares of the software maker’s stock after purchasing an additional 3,253 shares during the period. Smith Group Asset Management LLC’s holdings in BOX were worth $531,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in BOX by 14.9% in the 1st quarter. Vanguard Group Inc. now owns 17,313,882 shares of the software maker’s stock valued at $490,329,000 after purchasing an additional 2,249,082 shares in the last quarter. Earnest Partners LLC increased its stake in 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 in the last quarter. Sei Investments Co. increased its stake in BOX by 4.2% in the 2nd quarter. Sei Investments Co. now owns 3,078,857 shares of the software maker’s stock valued at $81,405,000 after purchasing an additional 125,435 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in 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. Finally, Jacobs Levy Equity Management Inc. increased its stake in BOX by 19.4% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 2,374,580 shares of the software maker’s stock valued at $67,248,000 after purchasing an additional 386,149 shares in the last quarter. 86.74% of the stock is owned by hedge funds and other institutional investors.

BOX Stock Down 0.2 %

BOX stock opened at $32.00 on Tuesday. Box, Inc. has a 52-week low of $23.29 and a 52-week high of $33.95. The stock has a market capitalization of $4.62 billion, a price-to-earnings ratio of 43.84 and a beta of 0.85. The stock’s fifty day simple moving average is $32.01 and its 200-day simple moving average is $28.52.

BOX (NYSE:BOX) last issued its earnings results on Tuesday, August 27th. The software maker reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.04. BOX had a negative return on equity of 14.41% and a net margin of 13.94%. The firm had revenue of $270.04 million for the quarter, compared to analysts’ expectations of $269.52 million. During the same quarter last year, the firm earned $0.01 earnings per share. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, analysts anticipate that Box, Inc. will post 0.23 earnings per share for the current fiscal year.

Insider Activity at BOX

In related news, CFO Dylan C. Smith sold 13,000 shares of BOX stock in a transaction on Friday, August 9th. The stock was sold at an average price of $27.05, for a total value of $351,650.00. Following the transaction, the chief financial officer now owns 1,513,661 shares in the company, valued at approximately $40,944,530.05. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Dylan C. Smith sold 13,000 shares of BOX stock in a transaction on Friday, August 9th. The stock was sold at an average price of $27.05, for a total value of $351,650.00. Following the transaction, the chief financial officer now owns 1,513,661 shares in the company, valued at approximately $40,944,530.05. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jack R. Lazar sold 7,000 shares of the firm’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $32.68, for a total value of $228,760.00. Following the completion of the transaction, the director now directly owns 29,197 shares in the company, valued at $954,157.96. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 56,000 shares of company stock worth $1,759,940. 4.10% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Royal Bank of Canada reiterated an “underperform” rating and set a $21.00 target price on shares of BOX in a report on Wednesday, August 28th. Monness Crespi & Hardt upgraded BOX to a “hold” rating in a report on Friday, August 16th. StockNews.com upgraded BOX from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 15th. UBS Group increased their target price on BOX from $31.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. Finally, Citigroup increased their target price on BOX from $32.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $31.22.

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.