Russell Investments Group Ltd. trimmed its stake in shares of Box Inc (NYSE:BOX) by 26.6% during the second quarter, HoldingsChannel reports. The fund owned 434,612 shares of the software maker’s stock after selling 157,541 shares during the quarter. Russell Investments Group Ltd.’s holdings in BOX were worth $7,653,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Capital Impact Advisors LLC grew its position in shares of BOX by 4.5% during the 2nd quarter. Capital Impact Advisors LLC now owns 115,085 shares of the software maker’s stock valued at $2,020,000 after buying an additional 4,905 shares during the last quarter. Steward Partners Investment Advisory LLC bought a new position in BOX in the second quarter worth about $182,000. First Trust Advisors LP boosted its stake in BOX by 29.5% in the second quarter. First Trust Advisors LP now owns 6,512,107 shares of the software maker’s stock valued at $114,678,000 after acquiring an additional 1,484,080 shares during the period. Falcon Point Capital LLC boosted its stake in BOX by 1.7% in the second quarter. Falcon Point Capital LLC now owns 178,353 shares of the software maker’s stock valued at $3,141,000 after acquiring an additional 3,003 shares during the period. Finally, DekaBank Deutsche Girozentrale acquired a new position in BOX in the second quarter valued at approximately $153,000. 72.31% of the stock is owned by institutional investors.

BOX stock traded up $0.05 on Wednesday, reaching $17.74. The company’s stock had a trading volume of 152,039 shares, compared to its average volume of 3,547,795. Box Inc has a 52 week low of $12.46 and a 52 week high of $25.40. The company has a debt-to-equity ratio of 14.57, a current ratio of 0.80 and a quick ratio of 0.83. The company has a market capitalization of $2.58 billion, a P/E ratio of -18.46 and a beta of 1.39. The firm has a fifty day moving average of $15.05 and a two-hundred day moving average of $18.12.

BOX (NYSE:BOX) last announced its earnings results on Wednesday, August 28th. The software maker reported ($0.25) earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.01. BOX had a negative return on equity of 491.54% and a negative net margin of 20.29%. The firm had revenue of $172.50 million for the quarter, compared to the consensus estimate of $169.49 million. During the same quarter in the previous year, the business earned ($0.05) EPS. The firm’s revenue for the quarter was up 16.4% on a year-over-year basis. As a group, equities analysts expect that Box Inc will post -1 EPS for the current fiscal year.

A number of analysts have recently weighed in on BOX shares. Wells Fargo & Co set a $20.00 price target on BOX and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Oppenheimer cut their price target on BOX from $22.00 to $18.00 and set an “outperform” rating on the stock in a report on Thursday, August 29th. First Analysis lowered BOX from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $22.00 to $14.00 in a research report on Thursday, August 29th. DA Davidson lowered their price objective on BOX from $19.00 to $17.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Finally, Raymond James dropped their target price on BOX from $21.00 to $18.00 and set an “outperform” rating on the stock in a research report on Thursday, August 29th. Seven analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $19.40.

In other news, Director Josh Stein sold 20,000 shares of the firm’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $18.19, for a total transaction of $363,800.00. Following the transaction, the director now directly owns 3,699 shares of the company’s stock, valued at $67,284.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 6.70% of the company’s stock.

BOX Company Profile

Box, Inc provides a cloud content management platform that enables organizations of various sizes to manage and share their content from anywhere or any device. The company's Software-as-a-Service platform enables users to collaborate on content internally and with external parties, automate content-driven business processes, develop custom applications, and implement data protection, security, and compliance features.

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Institutional Ownership by Quarter for BOX (NYSE:BOX)

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