Box, Inc. $BOX Shares Acquired by Connor Clark & Lunn Investment Management Ltd.

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its stake in Box, Inc. by 177.8% in the first quarter, now owning 89,677 shares valued at approximately $2.77 million.
• Multiple analysts have recently adjusted their ratings on Box, Inc., with UBS Group upgrading it to a "strong-buy" and setting a price target of $40.00.
• Box, Inc. reported $0.30 earnings per share for the last quarter, surpassing analysts' expectations of $0.25, and revenue growth of 4.4% year-over-year.

Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Box, Inc. (NYSE:BOX - Free Report) by 177.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 89,677 shares of the software maker's stock after acquiring an additional 57,392 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.06% of BOX worth $2,767,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Townsquare Capital LLC increased its holdings in shares of BOX by 13.8% during the 1st quarter. Townsquare Capital LLC now owns 105,178 shares of the software maker's stock valued at $3,246,000 after purchasing an additional 12,766 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of BOX by 24.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 11,870 shares of the software maker's stock valued at $366,000 after purchasing an additional 2,352 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its stake in shares of BOX by 1.2% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 40,250 shares of the software maker's stock valued at $1,242,000 after purchasing an additional 482 shares during the period. Natixis Advisors LLC lifted its stake in shares of BOX by 15.2% in the 1st quarter. Natixis Advisors LLC now owns 497,592 shares of the software maker's stock valued at $15,356,000 after purchasing an additional 65,711 shares during the period. Finally, Vestcor Inc acquired a new position in shares of BOX in the 1st quarter valued at $399,000. 86.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on BOX shares. UBS Group upgraded shares of BOX from a "buy" rating to a "strong-buy" rating and boosted their target price for the company from $37.00 to $40.00 in a research note 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. 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. Wall Street Zen cut shares of BOX from a "buy" rating to a "hold" rating in a research report on Sunday, June 29th. 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, one has assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, BOX presently has an average rating of "Moderate Buy" and a consensus target price of $38.50.

Insider Buying and Selling

In other BOX news, Director Dana L. Evan sold 7,590 shares of the company's stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $33.51, for a total value of $254,340.90. Following the transaction, the director owned 115,725 shares of the company's stock, valued at $3,877,944.75. This represents a 6.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Dylan C. Smith sold 13,000 shares of the company's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $37.23, for a total transaction of $483,990.00. Following the completion of the transaction, the chief financial officer directly owned 1,507,550 shares in the company, valued at $56,126,086.50. The trade was a 0.85% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 94,504 shares of company stock valued at $3,363,371 over the last three months. Company insiders own 3.90% of the company's stock.

BOX Price Performance

Shares of BOX traded up $0.05 during mid-day trading on Monday, reaching $31.64. The stock had a trading volume of 522,301 shares, compared to its average volume of 1,891,518. Box, Inc. has a 52-week low of $28.00 and a 52-week high of $38.80. The business's fifty day moving average is $33.32 and its 200 day moving average is $32.63. The firm has a market cap of $4.55 billion, a price-to-earnings ratio of 24.52 and a beta of 0.96.

BOX (NYSE:BOX - Get Free Report) last posted its earnings results on Tuesday, May 27th. The software maker reported $0.30 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 company had revenue of $276.27 million for 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. BOX's revenue for the quarter was up 4.4% compared to the same quarter last year. As a group, sell-side analysts anticipate 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.