Y Intercept Hong Kong Ltd Decreases Position in Box, Inc. (NYSE:BOX)

Key Points

• Y Intercept Hong Kong Ltd reduced its stake in Box, Inc. by 29.3% in Q1, selling 7,581 shares, leaving them with 18,295 shares valued at $565,000.
• Several institutional investors made significant changes to their positions in Box, with Thurston Springer Miller Herd & Titak Inc. increasing their stake by 332.5% and Versant Capital Management Inc. boosting theirs by 519.4%.
• Box reported an EPS of $0.30 for the last quarter, exceeding expectations and indicating a 4.4% increase in revenue year-over-year, despite a decline from $0.39 EPS in the same period last year.

Y Intercept Hong Kong Ltd reduced its position in Box, Inc. (NYSE:BOX - Free Report) by 29.3% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 18,295 shares of the software maker's stock after selling 7,581 shares during the period. Y Intercept Hong Kong Ltd's holdings in BOX were worth $565,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of BOX. Commonwealth Equity Services LLC raised its position in shares of BOX by 7.1% in the fourth quarter. Commonwealth Equity Services LLC now owns 9,887 shares of the software maker's stock valued at $312,000 after buying an additional 659 shares in the last quarter. LPL Financial LLC raised its position in shares of BOX by 11.1% in the fourth quarter. LPL Financial LLC now owns 20,757 shares of the software maker's stock valued at $656,000 after buying an additional 2,066 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its position in shares of BOX by 2.8% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 18,155 shares of the software maker's stock valued at $574,000 after buying an additional 486 shares in the last quarter. Elo Mutual Pension Insurance Co acquired a new stake in shares of BOX in the fourth quarter valued at approximately $429,000. Finally, Norges Bank acquired a new stake in shares of BOX in the fourth quarter valued at approximately $29,973,000. 86.74% of the stock is currently owned by institutional investors and hedge funds.

BOX Stock Down 0.5%

BOX traded down $0.16 during trading on Thursday, reaching $32.35. 159,665 shares of the stock traded hands, compared to its average volume of 1,908,260. The stock has a market capitalization of $4.65 billion, a PE ratio of 25.06 and a beta of 0.90. The stock's 50-day moving average is $34.28 and its 200 day moving average is $32.65. Box, Inc. has a 12 month low of $25.96 and a 12 month high of $38.80.

BOX (NYSE:BOX - Get Free Report) last posted its earnings results on Tuesday, May 27th. The software maker reported $0.30 earnings per share for the quarter, topping 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 company had revenue of $276.27 million for the quarter, compared to analyst estimates of $274.77 million. During the same quarter in the prior year, the business posted $0.39 EPS. The firm's revenue was up 4.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Box, Inc. will post 0.27 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. JPMorgan Chase & Co. boosted their price objective on shares of BOX from $37.00 to $39.00 and gave the company an "overweight" rating in a research report on Wednesday, May 28th. UBS Group raised shares of BOX from a "buy" rating to a "strong-buy" rating and boosted their target price for the stock from $37.00 to $40.00 in a research note on Wednesday, May 28th. Raymond James Financial reaffirmed an "outperform" rating and set a $42.00 target price (up previously from $38.00) on shares of BOX in a research note on Wednesday, May 28th. Morgan Stanley reaffirmed a "positive" rating on shares of BOX in a research note on Wednesday, May 28th. Finally, Wall Street Zen cut 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 assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, BOX currently has an average rating of "Moderate Buy" and an average target price of $38.50.

Insider Activity

In related news, CFO Dylan C. Smith sold 13,000 shares of the firm's stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $31.52, for a total value of $409,760.00. Following the completion of the transaction, the chief financial officer directly owned 1,520,550 shares of the company's stock, valued at approximately $47,927,736. This trade represents a 0.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Daniel J. Levin sold 37,499 shares of the firm's stock in a transaction 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 completion of the transaction, the director directly owned 51,530 shares of the company's stock, valued at approximately $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. Over the last ninety days, insiders sold 108,925 shares of company stock worth $3,817,023. 3.90% of the stock is owned by insiders.

About BOX

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.