CenterBook Partners LP Sells 82,871 Shares of Box, Inc. (NYSE:BOX)

Key Points

• CenterBook Partners LP has significantly reduced its stake in Box, Inc., selling 82,871 shares and maintaining only about 0.06% ownership worth $2,545,000.
• In the first quarter, other institutional investors increased their positions in BOX, with TCTC Holdings LLC growing its holdings by 115.4% and other firms like Versant Capital Management Inc. expanding by 519.4%.
• Despite some insider selling, the company reported earnings topping expectations with a 4.4% year-over-year revenue growth, and stock analysts have mixed ratings with an average target of $38.50.

CenterBook Partners LP trimmed its position in Box, Inc. (NYSE:BOX - Free Report) by 50.1% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 82,461 shares of the software maker's stock after selling 82,871 shares during the period. CenterBook Partners LP owned about 0.06% of BOX worth $2,545,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in BOX. TCTC Holdings LLC grew its holdings in BOX by 115.4% during the 1st quarter. TCTC Holdings LLC now owns 825 shares of the software maker's stock worth $25,000 after acquiring an additional 442 shares during the period. Thurston Springer Miller Herd & Titak Inc. increased its holdings in BOX by 332.5% in the first 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 bought a new position in BOX during the first quarter worth about $31,000. Versant Capital Management Inc grew its position in shares of BOX by 519.4% during the 1st quarter. Versant Capital Management Inc now owns 1,951 shares of the software maker's stock worth $60,000 after buying an additional 1,636 shares during the period. Finally, TD Waterhouse Canada Inc. increased 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 last quarter. 86.74% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Dylan C. Smith sold 13,000 shares of the company's stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $31.52, for a total transaction of $409,760.00. Following the sale, the chief financial officer owned 1,520,550 shares in the company, valued at approximately $47,927,736. This represents a 0.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Aaron Levie sold 15,000 shares of the business's stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $33.35, for a total value of $500,250.00. Following the transaction, the chief executive officer directly owned 2,952,030 shares in the company, valued at $98,450,200.50. This trade represents a 0.51% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 108,925 shares of company stock worth $3,817,023 over the last three months. Company insiders own 3.90% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Wall Street Zen cut shares of BOX from a "buy" rating to a "hold" rating in a report on Sunday, June 29th. 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. Raymond James Financial reaffirmed an "outperform" rating and set a $42.00 price objective (up previously from $38.00) on shares of BOX in a research note on Wednesday, May 28th. Morgan Stanley reissued a "positive" rating on shares of BOX in a research note on Wednesday, May 28th. Finally, UBS Group upgraded BOX from a "buy" rating to a "strong-buy" rating and increased their price target for the stock from $37.00 to $40.00 in a report on Wednesday, May 28th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $38.50.

BOX Stock Up 1.3%

NYSE:BOX opened at $31.97 on Thursday. The company has a market cap of $4.60 billion, a P/E ratio of 24.78 and a beta of 0.96. Box, Inc. has a twelve month low of $26.71 and a twelve month high of $38.80. The business has a 50 day moving average price of $34.22 and a two-hundred day moving average price of $32.66.

BOX (NYSE:BOX - Get Free Report) last announced its 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. 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 analysts' expectations of $274.77 million. During the same quarter in the prior year, the company posted $0.39 earnings per share. The firm's revenue was up 4.4% on a year-over-year basis. As a group, analysts anticipate that Box, Inc. will post 0.27 earnings per share for the current fiscal year.

BOX Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.