Box, Inc. (NYSE:BOX) Shares Sold by CenterBook Partners LP

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 lowered its stake in shares of Box, Inc. (NYSE:BOX - Free Report) by 50.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 82,461 shares of the software maker's stock after selling 82,871 shares during the quarter. CenterBook Partners LP owned 0.06% of BOX worth $2,545,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. TCTC Holdings LLC boosted its holdings in BOX by 115.4% during the 1st quarter. TCTC Holdings LLC now owns 825 shares of the software maker's stock valued at $25,000 after acquiring an additional 442 shares during the period. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of BOX by 332.5% in the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 865 shares of the software maker's stock worth $27,000 after buying an additional 665 shares during the period. MorganRosel Wealth Management LLC purchased a new stake in shares of BOX in the 1st quarter worth $31,000. Versant Capital Management Inc lifted its stake 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 purchasing an additional 1,636 shares during the last quarter. Finally, TD Waterhouse Canada Inc. lifted its stake in shares of BOX by 42.4% during the 4th quarter. TD Waterhouse Canada Inc. now owns 2,194 shares of the software maker's stock worth $69,000 after purchasing an additional 653 shares during the last quarter. Institutional investors own 86.74% of the company's stock.

BOX Stock Down 1.0%

Shares of NYSE BOX traded down $0.33 during midday trading on Monday, hitting $31.49. The stock had a trading volume of 336,910 shares, compared to its average volume of 1,898,925. The company has a market capitalization of $4.53 billion, a PE ratio of 24.43 and a beta of 0.96. The stock has a 50 day simple moving average of $33.99 and a 200-day simple moving average of $32.68. Box, Inc. has a 1 year low of $27.18 and a 1 year high of $38.80.

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 the consensus estimate of $0.25 by $0.05. The business had revenue of $276.27 million for the quarter, compared to the consensus estimate of $274.77 million. BOX had a negative return on equity of 20.17% and a net margin of 21.38%. The business's quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.39 earnings per share. As a group, analysts expect that Box, Inc. will post 0.27 earnings per share for the current fiscal year.

Analyst Ratings Changes

BOX has been the topic of several recent analyst reports. DA Davidson set a $45.00 target price on BOX and gave the company a "buy" rating in a research report on Wednesday, May 28th. Royal Bank Of Canada increased their price objective on BOX from $21.00 to $24.00 and gave the company an "underperform" rating in a report on Wednesday, May 28th. UBS Group raised BOX from a "buy" rating to a "strong-buy" rating and raised their target price for the stock from $37.00 to $40.00 in a report on Wednesday, May 28th. Raymond James Financial reaffirmed an "outperform" rating and set a $42.00 target price (up from $38.00) on shares of BOX in a report on Wednesday, May 28th. Finally, Morgan Stanley reaffirmed a "positive" rating on shares of BOX in a report on Wednesday, May 28th. One research analyst has rated the stock with a sell rating, two have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $38.50.

Insider Transactions at BOX

In related news, COO Olivia Nottebohm sold 2,013 shares of the stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $32.50, for a total value of $65,422.50. Following the completion of the sale, the chief operating officer owned 532,073 shares of the company's stock, valued at approximately $17,292,372.50. This trade represents a 0.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Dana L. Evan sold 7,590 shares of the stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $33.51, for a total value of $254,340.90. Following the completion of the sale, the director directly owned 115,725 shares of the company's stock, valued at approximately $3,877,944.75. This represents a 6.15% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 92,491 shares of company stock valued at $3,298,955. 3.90% of the stock is currently owned by company 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.