Victory Capital Management Inc. Decreases Position in Box, Inc. (NYSE:BOX)

Victory Capital Management Inc. cut its position in Box, Inc. (NYSE:BOX) by 8.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 607,866 shares of the software maker’s stock after selling 52,970 shares during the period. Victory Capital Management Inc.’s holdings in BOX were worth $19,895,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of BOX. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of BOX by 3.7% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 15,831 shares of the software maker’s stock valued at $419,000 after purchasing an additional 560 shares during the last quarter. Connable Office Inc. grew its position in BOX by 3.8% during the second quarter. Connable Office Inc. now owns 15,707 shares of the software maker’s stock valued at $415,000 after buying an additional 573 shares during the period. Creative Planning grew its position in BOX by 4.2% during the third quarter. Creative Planning now owns 15,743 shares of the software maker’s stock valued at $515,000 after buying an additional 631 shares during the period. Nisa Investment Advisors LLC grew its position in BOX by 31.7% during the second quarter. Nisa Investment Advisors LLC now owns 2,627 shares of the software maker’s stock valued at $69,000 after buying an additional 632 shares during the period. Finally, Diversified Trust Co grew its position in BOX by 2.9% during the second quarter. Diversified Trust Co now owns 26,980 shares of the software maker’s stock valued at $713,000 after buying an additional 768 shares during the period. 86.74% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at BOX

In other news, Director Jack R. Lazar sold 7,000 shares of the stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $32.68, for a total value of $228,760.00. Following the sale, the director now owns 29,197 shares of the company’s stock, valued at approximately $954,157.96. This represents a 19.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Dylan C. Smith sold 13,000 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $34.21, for a total transaction of $444,730.00. Following the completion of the sale, the chief financial officer now directly owns 1,461,509 shares in the company, valued at approximately $49,998,222.89. This represents a 0.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 58,500 shares of company stock valued at $1,939,895 over the last 90 days. 4.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on BOX shares. Morgan Stanley upped their price target on shares of BOX from $30.00 to $33.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 5th. Monness Crespi & Hardt upgraded shares of BOX to a “hold” rating in a research report on Friday, August 16th. Citigroup upped their price target on shares of BOX from $32.00 to $34.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Royal Bank of Canada reiterated an “underperform” rating and issued a $21.00 price target on shares of BOX in a research report on Wednesday, August 28th. Finally, UBS Group boosted their target price on shares of BOX from $31.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $31.22.

BOX Stock Up 0.8 %

BOX stock opened at $33.81 on Tuesday. The company has a market cap of $4.84 billion, a price-to-earnings ratio of 42.80 and a beta of 0.85. The firm’s fifty day moving average is $32.73 and its 200 day moving average is $29.22. Box, Inc. has a 52-week low of $23.29 and a 52-week high of $35.07.

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

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.