Principal Financial Group Inc. Has $24.74 Million Stake in Box, Inc. (NYSE:BOX)

Principal Financial Group Inc. grew its stake in shares of Box, Inc. (NYSE:BOX - Free Report) by 2.9% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 801,576 shares of the software maker's stock after buying an additional 22,526 shares during the period. Principal Financial Group Inc. owned approximately 0.56% of BOX worth $24,737,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. raised its position 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 worth $27,000 after purchasing an additional 665 shares in the last quarter. MorganRosel Wealth Management LLC acquired a new position in BOX in the first quarter worth about $31,000. Versant Capital Management Inc raised its position in BOX by 519.4% in the first 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 in the last quarter. TD Waterhouse Canada Inc. raised its position in BOX by 42.4% in the fourth 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 raised its position in BOX by 19.3% in the fourth 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. Institutional investors and hedge funds own 86.74% of the company's stock.

BOX Trading Down 1.5%

Shares of BOX traded down $0.51 during mid-day trading on Thursday, hitting $33.22. 1,811,457 shares of the company traded hands, compared to its average volume of 1,961,617. Box, Inc. has a one year low of $25.25 and a one year high of $38.80. The business has a 50-day moving average of $33.97 and a 200 day moving average of $32.54. The stock has a market capitalization of $4.78 billion, a price-to-earnings ratio of 25.75 and a beta of 0.90.

BOX (NYSE:BOX - Get Free Report) last released its quarterly earnings results on Tuesday, May 27th. The software maker reported $0.30 EPS for the quarter, beating 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 for the quarter, compared to analysts' expectations 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% compared to the same quarter last year. As a group, analysts anticipate that Box, Inc. will post 0.27 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on BOX shares. DA Davidson set a $45.00 price objective on shares of BOX and gave the stock a "buy" rating in a research note on Wednesday, May 28th. Wall Street Zen cut shares of BOX from a "buy" rating to a "hold" rating in a research note on Sunday, June 29th. UBS Group raised shares of BOX from a "buy" rating to a "strong-buy" rating and upped their price objective for the stock 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 note on Wednesday, May 28th. Finally, Morgan Stanley reaffirmed a "positive" rating on shares of BOX in a research note on Wednesday, May 28th. One analyst has rated the stock with a sell rating, two have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $38.50.

Insider Transactions at BOX

In other BOX news, VP Eli Berkovitch sold 5,924 shares of the firm's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $37.70, for a total value of $223,334.80. Following the transaction, the vice president directly owned 138,770 shares of the company's stock, valued at approximately $5,231,629. This trade represents a 4.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel J. Levin sold 37,499 shares of the firm's stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $36.74, for a total transaction of $1,377,713.26. Following the completion of the transaction, the director directly owned 51,530 shares in the company, valued at approximately $1,893,212.20. The trade was a 42.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 91,017 shares of company stock valued at $3,213,471. 3.90% of the stock is currently owned by company insiders.

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.