Envestnet Asset Management Inc. Sells 8,106 Shares of Box, Inc. (NYSE:BOX)

Envestnet Asset Management Inc. cut its holdings in shares of Box, Inc. (NYSE:BOX - Free Report) by 2.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 359,949 shares of the software maker's stock after selling 8,106 shares during the quarter. Envestnet Asset Management Inc. owned 0.25% of BOX worth $11,108,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership boosted its position in BOX by 103.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,386,370 shares of the software maker's stock valued at $107,009,000 after acquiring an additional 1,725,197 shares during the last quarter. Norges Bank bought a new stake in BOX during the fourth quarter valued at $29,973,000. Wells Fargo & Company MN boosted its position in BOX by 22.9% during the fourth quarter. Wells Fargo & Company MN now owns 1,633,647 shares of the software maker's stock valued at $51,623,000 after acquiring an additional 304,755 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its position in BOX by 219.4% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 420,907 shares of the software maker's stock valued at $13,301,000 after acquiring an additional 289,112 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its position in BOX by 126.0% during the fourth quarter. Janus Henderson Group PLC now owns 487,387 shares of the software maker's stock valued at $15,399,000 after acquiring an additional 271,745 shares during the last quarter. 86.74% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on BOX shares. Wall Street Zen lowered shares of BOX from a "buy" rating to a "hold" rating in a report on Sunday, June 29th. Raymond James Financial reiterated an "outperform" rating and set a $42.00 price objective (up previously from $38.00) on shares of BOX in a report on Wednesday, May 28th. UBS Group upgraded shares of BOX from a "buy" rating to a "strong-buy" rating and upped their price objective for the company from $37.00 to $40.00 in a report on Wednesday, May 28th. DA Davidson set a $45.00 price objective on shares of BOX and gave the company a "buy" rating in a report on Wednesday, May 28th. Finally, JPMorgan Chase & Co. upped their price objective on shares of BOX from $37.00 to $39.00 and gave the company an "overweight" rating 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 issued a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $38.50.

Insider Buying and Selling at BOX

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 sale, the chief financial officer owned 1,520,550 shares in the company, valued at approximately $47,927,736. This trade represents a 0.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Daniel J. Levin sold 37,499 shares of BOX stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $36.74, for a total transaction of $1,377,713.26. Following the transaction, the director owned 51,530 shares in the company, valued at $1,893,212.20. This represents a 42.12% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 106,912 shares of company stock valued at $3,751,601. 3.90% of the stock is currently owned by company insiders.

BOX Stock Up 0.6%

Shares of BOX stock traded up $0.20 during trading on Tuesday, reaching $33.06. 583,723 shares of the stock were exchanged, compared to its average volume of 1,968,591. The stock's fifty day moving average is $34.12 and its 200 day moving average is $32.58. The firm has a market cap of $4.75 billion, a price-to-earnings ratio of 25.62 and a beta of 0.90. Box, Inc. has a 1 year low of $25.96 and a 1 year high of $38.80.

BOX (NYSE:BOX - Get Free Report) last released its quarterly earnings results on Tuesday, May 27th. The software maker reported $0.30 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $274.77 million. During the same period in the prior year, the firm earned $0.39 earnings per share. BOX's revenue was up 4.4% on a year-over-year basis. Equities analysts forecast that Box, Inc. will post 0.27 earnings per share for the current year.

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.