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Public Sector Pension Investment Board Has $16.02 Million Stock Holdings in Box, Inc. (NYSE:BOX)

BOX logo with Computer and Technology background

Key Points

  • The Public Sector Pension Investment Board increased its stake in Box, Inc. by 45.5%, acquiring 162,238 additional shares during the first quarter, now holding about 0.36% of the company.
  • Box, Inc.'s stock saw analysts adjust their price targets, with ratings ranging from "underperform" to "strong buy," setting a consensus price target of $38.50.
  • Box reported its quarterly earnings, exceeding analysts' estimates with $0.30 earnings per share and a 4.4% increase in revenue year-over-year.
  • Looking to export and analyze BOX data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Public Sector Pension Investment Board raised its stake in shares of Box, Inc. (NYSE:BOX - Free Report) by 45.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 519,079 shares of the software maker's stock after purchasing an additional 162,238 shares during the quarter. Public Sector Pension Investment Board owned 0.36% of BOX worth $16,019,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Aigen Investment Management LP bought a new position in shares of BOX during the first quarter valued at $1,028,000. Invesco Ltd. lifted its holdings in shares of BOX by 8.3% during the first quarter. Invesco Ltd. now owns 567,786 shares of the software maker's stock valued at $17,522,000 after acquiring an additional 43,355 shares during the period. Mizuho Markets Americas LLC lifted its holdings in shares of BOX by 3.8% during the first quarter. Mizuho Markets Americas LLC now owns 616,948 shares of the software maker's stock valued at $19,039,000 after acquiring an additional 22,700 shares during the period. Covestor Ltd lifted its holdings in shares of BOX by 29.9% during the first quarter. Covestor Ltd now owns 2,142 shares of the software maker's stock valued at $66,000 after acquiring an additional 493 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of BOX by 177.8% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 89,677 shares of the software maker's stock valued at $2,767,000 after acquiring an additional 57,392 shares during the period. 86.74% of the stock is owned by institutional investors and hedge funds.

Insider Activity at BOX

In other BOX news, VP Eli Berkovitch sold 5,924 shares of the stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $37.70, for a total value of $223,334.80. Following the completion of the sale, the vice president directly owned 138,770 shares in the company, valued at $5,231,629. This represents a 4.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Dylan C. Smith sold 13,000 shares of the firm's stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $37.23, for a total value of $483,990.00. Following the sale, the chief financial officer directly owned 1,507,550 shares in the company, valued at approximately $56,126,086.50. This represents a 0.85% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 94,504 shares of company stock valued at $3,363,371. 3.90% of the stock is owned by corporate insiders.

BOX Stock Performance

NYSE:BOX traded down $0.63 on Thursday, hitting $31.06. 1,408,882 shares of the stock were exchanged, compared to its average volume of 1,900,215. The stock has a market capitalization of $4.47 billion, a price-to-earnings ratio of 24.07 and a beta of 0.96. Box, Inc. has a 52 week low of $27.86 and a 52 week high of $38.80. The company's 50-day moving average price is $33.57 and its 200 day moving average price is $32.66.

BOX (NYSE:BOX - Get Free Report) last posted its earnings results on Tuesday, May 27th. The software maker reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.05. The company had revenue of $276.27 million during 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 company's revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.39 EPS. As a group, equities research analysts predict that Box, Inc. will post 0.27 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. UBS Group raised 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 report on Wednesday, May 28th. JPMorgan Chase & Co. raised their target price on BOX from $37.00 to $39.00 and gave the company an "overweight" rating in a research note on Wednesday, May 28th. Royal Bank Of Canada upped their price target on shares of BOX from $21.00 to $24.00 and gave the stock an "underperform" rating in a research report on Wednesday, May 28th. DA Davidson set a $45.00 price objective on shares of BOX and gave the company a "buy" rating in a research report on Wednesday, May 28th. Finally, Wall Street Zen lowered shares of 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 assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $38.50.

Read Our Latest Report on BOX

BOX Company Profile

(Free Report)

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.

Read More

Institutional Ownership by Quarter for BOX (NYSE:BOX)

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