Victory Capital Management Inc. Raises Stake in Box, Inc. (NYSE:BOX)

Victory Capital Management Inc. increased its holdings in shares of Box, Inc. (NYSE:BOX - Free Report) by 11.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 650,713 shares of the software maker's stock after acquiring an additional 68,126 shares during the quarter. Victory Capital Management Inc. owned about 0.45% of BOX worth $20,081,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in BOX by 332.5% in the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 865 shares of the software maker's stock valued at $27,000 after purchasing an additional 665 shares during the last quarter. MorganRosel Wealth Management LLC purchased a new stake in shares of BOX in the 1st quarter valued at approximately $31,000. Versant Capital Management Inc raised its stake in shares of BOX by 519.4% in the 1st quarter. Versant Capital Management Inc now owns 1,951 shares of the software maker's stock valued at $60,000 after acquiring an additional 1,636 shares during the period. TD Waterhouse Canada Inc. raised its stake in shares of BOX by 42.4% in the 4th quarter. TD Waterhouse Canada Inc. now owns 2,194 shares of the software maker's stock valued at $69,000 after acquiring an additional 653 shares during the period. Finally, Farther Finance Advisors LLC raised its stake in shares of BOX by 43.8% in the 1st quarter. Farther Finance Advisors LLC now owns 3,709 shares of the software maker's stock valued at $116,000 after acquiring an additional 1,130 shares during the period. 86.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on BOX shares. Raymond James Financial reissued an "outperform" rating and issued a $42.00 price target (up from $38.00) on shares of BOX in a research note on Wednesday, May 28th. JPMorgan Chase & Co. boosted their price target on shares of 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 boosted their price target on shares of 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 target price on shares of BOX and gave the stock a "buy" rating in a research note on Wednesday, May 28th. Finally, Wall Street Zen downgraded shares of BOX from a "buy" rating to a "hold" rating in a research note on Sunday, June 29th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $38.50.

Insider Activity

In other BOX news, Director Dana L. Evan sold 7,590 shares of the firm's stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $33.51, for a total transaction of $254,340.90. Following the completion of the transaction, the director directly owned 115,725 shares in the company, valued at approximately $3,877,944.75. This trade represents a 6.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Aaron Levie sold 15,000 shares of the firm's stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $33.35, for a total transaction of $500,250.00. Following the transaction, the chief executive officer owned 2,952,030 shares of the company's stock, valued at $98,450,200.50. This trade represents a 0.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 108,925 shares of company stock worth $3,817,023 in the last three months. Company insiders own 3.90% of the company's stock.

BOX Stock Performance

BOX stock traded down $0.04 during trading hours on Friday, reaching $33.00. 914,099 shares of the stock were exchanged, compared to its average volume of 1,703,317. The stock has a market cap of $4.75 billion, a P/E ratio of 25.58 and a beta of 0.90. Box, Inc. has a 52-week low of $25.96 and a 52-week high of $38.80. The firm's 50 day moving average is $34.22 and its 200 day moving average is $32.63.

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

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.