Wedge Capital Management L L P NC Trims Stake in Box, Inc. (NYSE:BOX)

Wedge Capital Management L L P NC lowered its position in Box, Inc. (NYSE:BOX) by 1.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 50,512 shares of the software maker’s stock after selling 1,004 shares during the quarter. Wedge Capital Management L L P NC’s holdings in BOX were worth $1,294,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Rhumbline Advisers raised its stake in shares of BOX by 0.7% in the third quarter. Rhumbline Advisers now owns 205,861 shares of the software maker’s stock valued at $4,984,000 after acquiring an additional 1,347 shares during the period. Burney Co. raised its stake in shares of BOX by 19.0% in the third quarter. Burney Co. now owns 296,958 shares of the software maker’s stock valued at $7,189,000 after acquiring an additional 47,421 shares during the period. Earnest Partners LLC raised its stake in shares of BOX by 1.2% in the third quarter. Earnest Partners LLC now owns 6,132,385 shares of the software maker’s stock valued at $148,465,000 after acquiring an additional 70,129 shares during the period. Hsbc Holdings PLC raised its stake in shares of BOX by 406.6% in the third quarter. Hsbc Holdings PLC now owns 154,320 shares of the software maker’s stock valued at $3,744,000 after acquiring an additional 123,858 shares during the period. Finally, CenterBook Partners LP raised its stake in shares of BOX by 102.9% in the third quarter. CenterBook Partners LP now owns 288,995 shares of the software maker’s stock valued at $6,997,000 after acquiring an additional 146,580 shares during the period. Hedge funds and other institutional investors own 86.74% of the company’s stock.

Insider Activity

In other news, CFO Dylan C. Smith sold 13,000 shares of the firm’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $27.47, for a total value of $357,110.00. Following the sale, the chief financial officer now directly owns 1,408,702 shares in the company, valued at approximately $38,697,043.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Dylan C. Smith sold 13,000 shares of the firm’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $27.47, for a total value of $357,110.00. Following the sale, the chief financial officer now directly owns 1,408,702 shares in the company, valued at approximately $38,697,043.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Daniel J. Levin sold 73,660 shares of the firm’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $28.40, for a total transaction of $2,091,944.00. Following the completion of the sale, the director now owns 43,940 shares in the company, valued at $1,247,896. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 133,660 shares of company stock worth $3,792,204. Corporate insiders own 4.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. JMP Securities restated a “market outperform” rating and issued a $32.00 price target on shares of BOX in a report on Wednesday, March 20th. JPMorgan Chase & Co. upped their price target on shares of BOX from $31.00 to $32.00 and gave the stock an “overweight” rating in a report on Wednesday, March 6th. UBS Group upped their price target on shares of BOX from $33.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. StockNews.com upgraded shares of BOX from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 11th. Finally, Royal Bank of Canada restated an “underperform” rating and issued a $21.00 price target on shares of BOX in a report on Wednesday, March 20th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, BOX currently has an average rating of “Moderate Buy” and a consensus target price of $30.89.

BOX Price Performance

Shares of BOX stock opened at $26.98 on Friday. Box, Inc. has a 1 year low of $23.29 and a 1 year high of $31.94. The firm’s 50-day moving average is $27.53 and its two-hundred day moving average is $26.26. The stock has a market cap of $3.89 billion, a price-to-earnings ratio of 40.27, a PEG ratio of 9.25 and a beta of 0.84.

BOX (NYSE:BOX) last issued its earnings results on Tuesday, March 5th. The software maker reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.07. BOX had a net margin of 12.43% and a negative return on equity of 9.46%. The company had revenue of $262.88 million for the quarter, compared to analysts’ expectations of $262.92 million. On average, equities analysts expect that Box, Inc. will post 0.15 earnings per share for the current year.

BOX Profile

Box, Inc provides a cloud content management platform that enables organizations of various sizes to manage and share their content from anywhere on any device. The company's Software-as-a-Service platform enables users to work with their content as they need from secure external collaboration and sharing, workspaces and portals, e-signature processes, and content workflows improving employee productivity and accelerating business processes.