Summit Creek Advisors LLC Cuts Holdings in Box, Inc. (NYSE:BOX)

Summit Creek Advisors LLC decreased its position in shares of Box, Inc. (NYSE:BOX) by 5.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 177,792 shares of the software maker’s stock after selling 10,625 shares during the period. Summit Creek Advisors LLC owned approximately 0.12% of BOX worth $4,701,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in BOX. TFO Wealth Partners LLC grew its position in BOX by 62,000.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,863 shares of the software maker’s stock worth $48,000 after acquiring an additional 1,860 shares in the last quarter. Nisa Investment Advisors LLC grew its position in BOX by 31.7% in the second quarter. Nisa Investment Advisors LLC now owns 2,627 shares of the software maker’s stock worth $69,000 after acquiring an additional 632 shares in the last quarter. Covestor Ltd grew its position in BOX by 27.3% in the first quarter. Covestor Ltd now owns 4,312 shares of the software maker’s stock worth $122,000 after acquiring an additional 924 shares in the last quarter. Central Pacific Bank Trust Division purchased a new position in BOX in the first quarter worth about $174,000. Finally, Neo Ivy Capital Management purchased a new position in BOX in the fourth quarter worth about $156,000. Hedge funds and other institutional investors own 86.74% of the company’s stock.

BOX Stock Performance

BOX stock opened at $32.96 on Friday. The company has a 50 day moving average price of $27.88 and a 200-day moving average price of $27.29. Box, Inc. has a fifty-two week low of $23.29 and a fifty-two week high of $33.45. The company has a market capitalization of $4.76 billion, a PE ratio of 44.85 and a beta of 0.86.

BOX (NYSE:BOX) last issued its quarterly earnings data on Tuesday, August 27th. The software maker reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.04. The company had revenue of $270.04 million during the quarter, compared to the consensus estimate of $269.52 million. BOX had a net margin of 13.94% and a negative return on equity of 14.41%. BOX’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.01 earnings per share. On average, analysts forecast that Box, Inc. will post 0.2 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Aaron Levie sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $26.26, for a total value of $262,600.00. Following the completion of the transaction, the chief executive officer now owns 3,019,155 shares of the company’s stock, valued at $79,283,010.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other BOX news, Director Jack R. Lazar sold 7,000 shares of BOX stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $32.68, for a total value of $228,760.00. Following the transaction, the director now directly owns 29,197 shares of the company’s stock, valued at $954,157.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Aaron Levie sold 10,000 shares of BOX stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $26.26, for a total transaction of $262,600.00. Following the completion of the transaction, the chief executive officer now directly owns 3,019,155 shares in the company, valued at $79,283,010.30. The disclosure for this sale can be found here. Insiders sold 66,560 shares of company stock valued at $1,785,200 over the last 90 days. Corporate insiders own 4.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on BOX shares. Monness Crespi & Hardt raised shares of BOX to a “hold” rating in a research note on Friday, August 16th. UBS Group raised their price objective on shares of BOX from $31.00 to $34.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. Royal Bank of Canada reissued an “underperform” rating and issued a $21.00 price objective on shares of BOX in a research note on Wednesday, August 28th. Oppenheimer reissued an “outperform” rating and issued a $35.00 price objective on shares of BOX in a research note on Wednesday, May 29th. Finally, StockNews.com raised shares of BOX from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 15th. One analyst has rated the stock with a sell rating, two have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $31.22.

About BOX

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.