Box, Inc. (NYSE:BOX) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lowered its stake in shares of Box, Inc. (NYSE:BOX) by 1.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 54,624 shares of the software maker’s stock after selling 994 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in BOX were worth $1,788,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. US Bancorp DE boosted its position in shares of BOX by 59.8% during the 1st quarter. US Bancorp DE now owns 44,729 shares of the software maker’s stock valued at $1,267,000 after acquiring an additional 16,737 shares during the last quarter. ProShare Advisors LLC grew its stake in shares of BOX by 21.3% in the 1st quarter. ProShare Advisors LLC now owns 29,735 shares of the software maker’s stock valued at $842,000 after buying an additional 5,224 shares during the period. State Board of Administration of Florida Retirement System increased its holdings in shares of BOX by 7.1% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 43,110 shares of the software maker’s stock worth $1,155,000 after buying an additional 2,850 shares during the last quarter. Vanguard Group Inc. raised its position in shares of BOX by 14.9% during the 1st quarter. Vanguard Group Inc. now owns 17,313,882 shares of the software maker’s stock valued at $490,329,000 after buying an additional 2,249,082 shares during the period. Finally, Edgestream Partners L.P. acquired a new position in BOX in the first quarter valued at approximately $399,000. 86.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on BOX. William Blair reaffirmed an “outperform” rating on shares of BOX in a research note on Thursday. Royal Bank of Canada reaffirmed an “underperform” rating and set a $21.00 price objective on shares of BOX in a research report on Wednesday, August 28th. StockNews.com upgraded BOX from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 15th. UBS Group lifted their price objective on BOX from $31.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. Finally, Citigroup upped their target price on shares of BOX from $32.00 to $34.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.22.

Insider Buying and Selling

In related news, Director Jack R. Lazar sold 7,000 shares of BOX 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 transaction, the director now directly owns 29,197 shares in the company, valued at $954,157.96. This trade represents a 19.34 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Aaron Levie sold 10,000 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $32.92, for a total transaction of $329,200.00. Following the transaction, the chief executive officer now owns 3,009,155 shares of the company’s stock, valued at approximately $99,061,382.60. The trade was a 0.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 58,500 shares of company stock worth $1,939,895 in the last 90 days. Company insiders own 4.10% of the company’s stock.

BOX Stock Performance

BOX stock opened at $33.53 on Monday. The company has a market capitalization of $4.80 billion, a P/E ratio of 42.44 and a beta of 0.85. Box, Inc. has a fifty-two week low of $23.29 and a fifty-two week high of $35.07. The stock has a 50-day simple moving average of $32.71 and a 200-day simple moving average of $29.17.

BOX (NYSE:BOX) last issued its quarterly earnings data 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. The company had revenue of $270.04 million during the quarter, compared to analysts’ expectations of $269.52 million. BOX had a negative return on equity of 14.41% and a net margin of 13.94%. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.01 earnings per share. As a group, analysts forecast that Box, Inc. will post 0.23 earnings per share for the current year.

BOX 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.