Two Sigma Investments LP Reduces Position in Box, Inc. (NYSE:BOX)

Two Sigma Investments LP cut its holdings in shares of Box, Inc. (NYSE:BOX - Free Report) by 11.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 589,741 shares of the software maker's stock after selling 74,596 shares during the quarter. Two Sigma Investments LP owned approximately 0.41% of BOX worth $18,636,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. State of Wyoming bought a new stake in shares of BOX during the fourth quarter valued at about $181,000. Sherbrooke Park Advisers LLC bought a new stake in shares of BOX during the fourth quarter valued at about $787,000. Rafferty Asset Management LLC increased its position in shares of BOX by 5.8% during the fourth quarter. Rafferty Asset Management LLC now owns 26,128 shares of the software maker's stock valued at $826,000 after buying an additional 1,439 shares during the period. Raiffeisen Bank International AG bought a new stake in shares of BOX during the fourth quarter valued at about $215,000. Finally, ProShare Advisors LLC increased its position in shares of BOX by 42.5% during the fourth quarter. ProShare Advisors LLC now owns 43,308 shares of the software maker's stock valued at $1,369,000 after buying an additional 12,924 shares during the period. 86.74% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. DA Davidson upped their price target on BOX from $40.00 to $45.00 and gave the company a "buy" rating in a research report on Wednesday. Morgan Stanley decreased their price target on BOX from $36.00 to $35.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. JPMorgan Chase & Co. decreased their price objective on shares of BOX from $38.00 to $37.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 5th. UBS Group upped their price objective on shares of BOX from $37.00 to $40.00 and gave the stock a "buy" rating in a research report on Wednesday. Finally, Raymond James restated an "outperform" rating and issued a $38.00 price objective (down from $40.00) on shares of BOX in a research report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $37.11.

Insiders Place Their Bets

In other news, CEO Aaron Levie sold 10,000 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $32.08, for a total transaction of $320,800.00. Following the completion of the sale, the chief executive officer now owns 2,979,780 shares of the company's stock, valued at approximately $95,591,342.40. This represents a 0.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Dylan C. Smith sold 13,000 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $31.95, for a total value of $415,350.00. Following the sale, the chief financial officer now directly owns 1,440,684 shares of the company's stock, valued at approximately $46,029,853.80. This trade represents a 0.89% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 66,377 shares of company stock valued at $2,060,714 over the last quarter. 3.90% of the stock is owned by corporate insiders.

BOX Stock Performance

BOX traded up $5.42 during midday trading on Wednesday, hitting $36.87. The stock had a trading volume of 7,980,553 shares, compared to its average volume of 1,856,752. The company has a market cap of $5.30 billion, a P/E ratio of 46.23, a price-to-earnings-growth ratio of 4.42 and a beta of 0.94. The business has a fifty day moving average of $30.78 and a 200 day moving average of $32.11. Box, Inc. has a 1 year low of $24.63 and a 1 year high of $37.21.

BOX (NYSE:BOX - Get Free Report) last issued its earnings results on Tuesday, May 27th. The software maker reported $0.30 earnings per share (EPS) 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 analyst estimates of $274.77 million. BOX had a negative return on equity of 17.20% and a net margin of 13.96%. BOX's revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.39 earnings per share. On average, equities research analysts anticipate that Box, Inc. will post 0.27 earnings per share for the current year.

BOX announced that its board has authorized a share repurchase plan on Tuesday, March 4th that authorizes the company to buyback $150.00 million in 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 usually an indication that the company's board believes its stock is undervalued.

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.