SG Americas Securities LLC Increases Stock Position in Box, Inc. (NYSE:BOX)

SG Americas Securities LLC grew its stake in shares of Box, Inc. (NYSE:BOX - Free Report) by 420.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 30,067 shares of the software maker's stock after purchasing an additional 24,286 shares during the period. SG Americas Securities LLC's holdings in BOX were worth $928,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC increased its position in shares of BOX by 182.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 39,608 shares of the software maker's stock worth $1,241,000 after acquiring an additional 25,587 shares in the last quarter. New York State Teachers Retirement System increased its position in shares of BOX by 27.7% during the fourth quarter. New York State Teachers Retirement System now owns 63,528 shares of the software maker's stock worth $2,007,000 after acquiring an additional 13,789 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of BOX by 2.5% during the fourth quarter. Principal Financial Group Inc. now owns 779,050 shares of the software maker's stock worth $24,618,000 after acquiring an additional 18,912 shares in the last quarter. Sanctuary Advisors LLC increased its position in shares of BOX by 1.2% during the fourth quarter. Sanctuary Advisors LLC now owns 35,775 shares of the software maker's stock worth $1,189,000 after acquiring an additional 423 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of BOX during the fourth quarter worth about $818,000. Institutional investors and hedge funds own 86.74% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on BOX. Morgan Stanley reissued a "positive" rating on shares of BOX in a research report on Wednesday, May 28th. JPMorgan Chase & Co. upped their price objective on shares of BOX from $37.00 to $39.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 28th. Royal Bank Of Canada upped their price objective 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 stock a "buy" rating in a research report on Wednesday, May 28th. Finally, UBS Group raised shares of BOX from a "buy" rating to a "strong-buy" rating and upped their price objective for the stock from $37.00 to $40.00 in a research report on Wednesday, May 28th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, BOX has an average rating of "Moderate Buy" and a consensus target price of $38.50.

BOX Stock Down 2.1%

BOX stock traded down $0.72 during trading on Friday, reaching $34.30. The stock had a trading volume of 3,521,724 shares, compared to its average volume of 1,952,636. The company has a market capitalization of $4.93 billion, a price-to-earnings ratio of 26.59 and a beta of 0.94. Box, Inc. has a one year low of $24.63 and a one year high of $38.80. The company's 50 day moving average is $32.95 and its two-hundred day moving average is $32.40.

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

BOX announced that its Board of Directors has approved a share buyback plan on Tuesday, March 4th that allows the company to buyback $150.00 million in outstanding shares. This buyback authorization allows the software maker to purchase up to 3.1% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its stock is undervalued.

Insider Buying and Selling at BOX

In other BOX news, VP Eli Berkovitch sold 5,924 shares of the business's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $37.70, for a total value of $223,334.80. Following the transaction, the vice president now directly owns 138,770 shares in the company, valued at $5,231,629. The trade was a 4.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel J. Levin sold 37,499 shares of the company's stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $36.74, for a total transaction of $1,377,713.26. Following the sale, the director now owns 51,530 shares in the company, valued at $1,893,212.20. The trade was a 42.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 101,129 shares of company stock worth $3,459,346 over the last three months. 3.90% of the stock is currently 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.