Allianz Asset Management GmbH Makes New Investment in Box, Inc. (NYSE:BOX)

Key Points

• Allianz Asset Management GmbH acquired a new stake in Box, Inc. by purchasing 20,200 shares valued at approximately $623,000 during the first quarter.
• Box, Inc. reported a 0.30 EPS for the last quarter, exceeding analysts' expectations, alongside quarterly revenue of $276.27 million.
• Analysts have set a consensus rating of "Moderate Buy" for Box, Inc., with a target price of $38.50 after several research reports suggested different price objectives.

Allianz Asset Management GmbH purchased a new position in Box, Inc. (NYSE:BOX - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 20,200 shares of the software maker's stock, valued at approximately $623,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Earnest Partners LLC lifted its position in shares of BOX by 2.1% during the 4th quarter. Earnest Partners LLC now owns 7,896,931 shares of the software maker's stock valued at $249,543,000 after buying an additional 162,437 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of BOX by 0.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,610,450 shares of the software maker's stock worth $82,492,000 after purchasing an additional 11,376 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of BOX by 11.8% during the 4th quarter. Renaissance Technologies LLC now owns 2,205,926 shares of the software maker's stock worth $69,707,000 after purchasing an additional 233,100 shares during the last quarter. Congress Asset Management Co. increased its position in shares of BOX by 11.2% during the 1st quarter. Congress Asset Management Co. now owns 1,846,069 shares of the software maker's stock worth $56,970,000 after purchasing an additional 186,423 shares during the last quarter. Finally, Northern Trust Corp grew its position in BOX by 7.4% in the 4th quarter. Northern Trust Corp now owns 1,657,127 shares of the software maker's stock valued at $52,365,000 after acquiring an additional 113,822 shares in the last quarter. Institutional investors and hedge funds own 86.74% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Royal Bank Of Canada lifted their price objective on BOX from $21.00 to $24.00 and gave the company an "underperform" rating in a research note on Wednesday, May 28th. DA Davidson set a $45.00 price objective on BOX and gave the company a "buy" rating in a research note on Wednesday, May 28th. UBS Group upgraded BOX from a "buy" rating to a "strong-buy" rating and lifted their price objective for the company from $37.00 to $40.00 in a research note on Wednesday, May 28th. Wall Street Zen cut BOX from a "buy" rating to a "hold" rating in a research note on Sunday, June 29th. Finally, JPMorgan Chase & Co. lifted their price objective on BOX from $37.00 to $39.00 and gave the company an "overweight" rating in a research note on Wednesday, May 28th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $38.50.

BOX Stock Down 1.2%

BOX traded down $0.40 during trading on Tuesday, hitting $31.58. 1,172,324 shares of the stock were exchanged, compared to its average volume of 1,906,921. The firm has a market capitalization of $4.54 billion, a P/E ratio of 24.48 and a beta of 0.96. Box, Inc. has a 1-year low of $26.05 and a 1-year high of $38.80. The stock has a fifty day moving average price of $34.32 and a two-hundred day moving average price of $32.68.

BOX (NYSE:BOX - Get Free Report) last released its quarterly earnings results on Tuesday, May 27th. The software maker reported $0.30 EPS for the quarter, topping the consensus estimate of $0.25 by $0.05. The company had revenue of $276.27 million for the quarter, compared to analyst estimates of $274.77 million. BOX had a negative return on equity of 20.17% and a net margin of 21.38%. The firm's revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.39 earnings per share. Analysts predict that Box, Inc. will post 0.27 EPS for the current year.

Insiders Place Their Bets

In other news, VP Eli Berkovitch sold 5,924 shares of the business's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $37.70, for a total value of $223,334.80. Following the transaction, the vice president owned 138,770 shares of the company's stock, valued at approximately $5,231,629. The trade was a 4.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Dana L. Evan sold 7,590 shares of the company's stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $33.51, for a total value of $254,340.90. Following the transaction, the director directly owned 115,725 shares in the company, valued at $3,877,944.75. This represents a 6.15% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 108,925 shares of company stock valued at $3,817,023. 3.90% of the stock is owned by company 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.