Aigen Investment Management LP Takes $1.03 Million Position in Box, Inc. (NYSE:BOX)

Key Points

• Aigen Investment Management LP has purchased 33,303 shares of Box, Inc., valued at approximately $1,028,000, marking a new stake for the institutional investor in the first quarter.
• Several other institutional investors have also increased their holdings in Box, with Invesco Ltd. increasing its position by 8.3% and Connor Clark & Lunn Investment Management boosting theirs by 177.8% during the same period.
• Box, Inc. reported Q1 earnings of $0.30 per share, surpassing the consensus estimate of $0.25, and saw revenue growth of 4.4% year-over-year with total revenue of $276.27 million.

Aigen Investment Management LP purchased a new stake in shares of Box, Inc. (NYSE:BOX - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 33,303 shares of the software maker's stock, valued at approximately $1,028,000.

Several other institutional investors and hedge funds also recently made changes to their positions in BOX. Cerity Partners LLC bought a new position in shares of BOX in the first quarter worth $1,395,000. SG Americas Securities LLC increased its position in shares of BOX by 420.1% during the first quarter. SG Americas Securities LLC now owns 30,067 shares of the software maker's stock valued at $928,000 after buying an additional 24,286 shares during the period. Quantinno Capital Management LP bought a new position in shares of BOX in the fourth quarter valued at approximately $289,000. GAMMA Investing LLC grew its stake in BOX by 8,676.2% during the first quarter. GAMMA Investing LLC now owns 127,606 shares of the software maker's stock valued at $4,135,000 after acquiring an additional 126,152 shares in the last quarter. Finally, Krilogy Financial LLC bought a new position in shares of BOX in the first quarter worth $387,000. Institutional investors own 86.74% of the company's stock.

BOX Trading Down 2.0%

Shares of BOX traded down $0.63 during trading hours on Thursday, reaching $31.06. The company had a trading volume of 1,408,682 shares, compared to its average volume of 1,900,199. The firm has a 50 day simple moving average of $33.57 and a 200-day simple moving average of $32.66. Box, Inc. has a 12-month low of $27.86 and a 12-month high of $38.80. The company has a market capitalization of $4.47 billion, a price-to-earnings ratio of 24.07 and a beta of 0.96.

BOX (NYSE:BOX - Get Free Report) last issued its quarterly earnings data on Tuesday, May 27th. The software maker reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.05. The company had revenue of $276.27 million during the quarter, compared to the consensus estimate of $274.77 million. BOX had a net margin of 21.38% and a negative return on equity of 20.17%. BOX's revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter last year, the company earned $0.39 earnings per share. Sell-side analysts forecast that Box, Inc. will post 0.27 earnings per share for the current year.

Analyst Ratings Changes

BOX has been the subject of several research analyst reports. Raymond James Financial reiterated an "outperform" rating and set a $42.00 target price (up from $38.00) on shares of BOX in a research report on Wednesday, May 28th. Royal Bank Of Canada lifted their price objective on shares of BOX from $21.00 to $24.00 and gave the stock an "underperform" rating in a report on Wednesday, May 28th. Morgan Stanley reiterated a "positive" rating on shares of BOX in a research report on Wednesday, May 28th. UBS Group raised BOX from a "buy" rating to a "strong-buy" rating and lifted their price target for the stock from $37.00 to $40.00 in a research note on Wednesday, May 28th. Finally, Wall Street Zen lowered BOX from a "buy" rating to a "hold" rating in a research report on Sunday, June 29th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, BOX has an average rating of "Moderate Buy" and a consensus price target of $38.50.

Insiders Place Their Bets

In other BOX news, CEO Aaron Levie sold 15,000 shares of the firm's stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $33.35, for a total value of $500,250.00. Following the sale, the chief executive officer directly owned 2,952,030 shares in the company, valued at approximately $98,450,200.50. This trade represents a 0.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Eli Berkovitch sold 3,000 shares of the stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $33.34, for a total value of $100,020.00. Following the completion of the transaction, the vice president directly owned 133,867 shares of the company's stock, valued at $4,463,125.78. This trade represents a 2.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 94,504 shares of company stock valued at $3,363,371. 3.90% of the stock is owned by insiders.

BOX Profile

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.