Illinois Municipal Retirement Fund Sells 8,321 Shares of Box, Inc. (NYSE:BOX)

Illinois Municipal Retirement Fund trimmed its position in shares of Box, Inc. (NYSE:BOX - Free Report) by 9.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 75,608 shares of the software maker's stock after selling 8,321 shares during the quarter. Illinois Municipal Retirement Fund owned 0.05% of BOX worth $2,333,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. grew its position in BOX by 332.5% during the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 865 shares of the software maker's stock valued at $27,000 after buying an additional 665 shares during the period. Versant Capital Management Inc boosted 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 acquiring an additional 1,636 shares during the last quarter. Smartleaf Asset Management LLC grew its position in shares of BOX by 715.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,162 shares of the software maker's stock valued at $69,000 after acquiring an additional 1,897 shares during the period. 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 worth $69,000 after purchasing an additional 653 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its stake in shares of BOX by 19.3% in the 4th quarter. Farther Finance Advisors LLC now owns 2,579 shares of the software maker's stock worth $81,000 after purchasing an additional 417 shares in the last quarter. 86.74% of the stock is currently owned by hedge funds and other institutional investors.

BOX Stock Performance

Shares of BOX stock opened at $33.99 on Monday. Box, Inc. has a 52-week low of $24.63 and a 52-week high of $41.00. The firm has a market capitalization of $4.89 billion, a P/E ratio of 26.35 and a beta of 0.94. The stock has a 50 day moving average price of $33.47 and a 200 day moving average price of $32.47.

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, topping the consensus estimate of $0.25 by $0.05. The business had revenue of $276.27 million during 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 revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period last year, the company earned $0.39 earnings per share. As a group, sell-side analysts forecast that Box, Inc. will post 0.27 EPS for the current year.

BOX announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, March 4th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the software maker to reacquire up to 3.1% of its shares through open market purchases. Shares buyback plans are often a sign that the company's management believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on BOX shares. Raymond James Financial reaffirmed an "outperform" rating and issued a $42.00 price objective (up previously from $38.00) on shares of BOX in a research note on Wednesday, May 28th. Royal Bank Of Canada lifted their price target on shares of BOX from $21.00 to $24.00 and gave the company an "underperform" rating in a report on Wednesday, May 28th. JPMorgan Chase & Co. increased their price objective on shares of BOX from $37.00 to $39.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 28th. UBS Group upgraded shares of BOX from a "buy" rating to a "strong-buy" rating and raised their price objective for the company from $37.00 to $40.00 in a research report on Wednesday, May 28th. Finally, DA Davidson set a $45.00 target price on shares of BOX and gave the stock a "buy" rating in a report on Wednesday, May 28th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $38.50.

Insider Activity

In other news, VP Eli Berkovitch sold 2,750 shares of the company's stock in a transaction that occurred on Thursday, April 10th. The shares were sold at an average price of $29.58, for a total value of $81,345.00. Following the completion of the sale, the vice president now owns 121,922 shares of the company's stock, valued at approximately $3,606,452.76. This represents a 2.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Olivia Nottebohm sold 1,332 shares of BOX stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $29.01, for a total transaction of $38,641.32. Following the transaction, the chief operating officer now directly owns 492,545 shares in the company, valued at approximately $14,288,730.45. The trade was a 0.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 95,386 shares of company stock valued at $3,290,987. Corporate insiders own 3.90% of the company's stock.

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.

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