Teacher Retirement System of Texas Cuts Position in Box, Inc. (NYSE:BOX)

Teacher Retirement System of Texas decreased its stake in Box, Inc. (NYSE:BOX - Free Report) by 43.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,332 shares of the software maker's stock after selling 22,158 shares during the quarter. Teacher Retirement System of Texas' holdings in BOX were worth $905,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Summit Trail Advisors LLC boosted its position in BOX by 3.4% during the first quarter. Summit Trail Advisors LLC now owns 27,504 shares of the software maker's stock worth $849,000 after acquiring an additional 908 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in BOX by 11.2% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 19,281 shares of the software maker's stock worth $595,000 after acquiring an additional 1,941 shares during the last quarter. Peregrine Capital Management LLC boosted its position in BOX by 3.4% during the first quarter. Peregrine Capital Management LLC now owns 536,707 shares of the software maker's stock worth $16,563,000 after acquiring an additional 17,697 shares during the last quarter. MorganRosel Wealth Management LLC acquired a new position in BOX during the first quarter worth about $31,000. Finally, Blue Trust Inc. raised its stake in BOX by 88.3% during the first quarter. Blue Trust Inc. now owns 26,291 shares of the software maker's stock worth $811,000 after purchasing an additional 12,330 shares during the period. Institutional investors and hedge funds own 86.74% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. DA Davidson set a $45.00 target price on shares of BOX and gave the stock a "buy" rating in a research note on Wednesday, May 28th. UBS Group raised shares of BOX from a "buy" rating to a "strong-buy" rating and lifted their target price for the stock from $37.00 to $40.00 in a research note on Wednesday, May 28th. JPMorgan Chase & Co. lifted their target price 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. Royal Bank Of Canada lifted their target price 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 research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $38.50.

BOX Trading Down 0.1%

BOX traded down $0.02 during trading hours on Friday, hitting $32.47. 360,757 shares of the company's stock were exchanged, compared to its average volume of 1,957,612. Box, Inc. has a 12-month low of $25.96 and a 12-month high of $38.80. The firm has a 50 day moving average of $34.10 and a 200 day moving average of $32.56. The firm has a market cap of $4.67 billion, a P/E ratio of 25.17 and a beta of 0.90.

BOX (NYSE:BOX - Get Free Report) last announced 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. BOX had a net margin of 21.38% and a negative return on equity of 20.17%. The firm had revenue of $276.27 million for the quarter, compared to the consensus estimate of $274.77 million. During the same period in the prior year, the firm earned $0.39 EPS. The firm's revenue for the quarter was up 4.4% on a year-over-year basis. As a group, research analysts expect that Box, Inc. will post 0.27 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Daniel J. Levin sold 37,499 shares of the company's stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $36.74, for a total value of $1,377,713.26. Following the completion of the transaction, the director owned 51,530 shares in the company, valued at approximately $1,893,212.20. This represents a 42.12% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Dylan C. Smith sold 13,000 shares of the stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $37.23, for a total transaction of $483,990.00. Following the sale, the chief financial officer owned 1,507,550 shares of the company's stock, valued at approximately $56,126,086.50. This represents a 0.85% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 109,017 shares of company stock worth $3,813,741. 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.