Quantbot Technologies LP Takes $2.86 Million Position in Box, Inc. (NYSE:BOX)

Quantbot Technologies LP acquired a new position in Box, Inc. (NYSE:BOX) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 87,349 shares of the software maker’s stock, valued at approximately $2,859,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. boosted its position in shares of BOX by 143.6% in the second quarter. Assenagon Asset Management S.A. now owns 254,975 shares of the software maker’s stock worth $6,742,000 after buying an additional 150,309 shares during the period. Teachers Retirement System of The State of Kentucky acquired a new stake in BOX during the 1st quarter worth about $1,096,000. Comerica Bank grew its stake in BOX by 964.7% during the 1st quarter. Comerica Bank now owns 85,081 shares of the software maker’s stock valued at $2,409,000 after acquiring an additional 77,090 shares in the last quarter. Bank of Montreal Can grew its stake in BOX by 16.0% during the 2nd quarter. Bank of Montreal Can now owns 351,850 shares of the software maker’s stock valued at $9,514,000 after acquiring an additional 48,633 shares in the last quarter. Finally, Versor Investments LP acquired a new position in shares of BOX in the 3rd quarter valued at about $1,221,000. 86.74% of the stock is currently owned by hedge funds and other institutional investors.

BOX Stock Performance

BOX opened at $35.07 on Thursday. The stock has a 50-day moving average of $32.86 and a 200-day moving average of $29.55. Box, Inc. has a 52-week low of $23.29 and a 52-week high of $35.74. The company has a market cap of $5.02 billion, a PE ratio of 44.39 and a beta of 0.85.

BOX (NYSE:BOX) last announced its quarterly earnings results on Tuesday, August 27th. The software maker reported $0.44 EPS for the quarter, beating the consensus estimate of $0.40 by $0.04. BOX had a negative return on equity of 14.41% and a net margin of 13.94%. The company had revenue of $270.04 million for the quarter, compared to the consensus estimate of $269.52 million. During the same quarter last year, the company posted $0.01 earnings per share. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, research analysts predict that Box, Inc. will post 0.23 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. StockNews.com raised shares of BOX from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 15th. Morgan Stanley boosted their price target on shares of BOX from $30.00 to $33.00 and gave the company an “equal weight” rating in a report on Thursday, September 5th. UBS Group increased their price objective on BOX from $31.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Monness Crespi & Hardt upgraded BOX to a “hold” rating in a research note on Friday, August 16th. Finally, William Blair reaffirmed an “outperform” rating on shares of BOX in a research note on Thursday, November 14th. One analyst has rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $31.22.

Insider Activity at BOX

In other news, CFO Dylan C. Smith sold 13,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $34.21, for a total transaction of $444,730.00. Following the completion of the transaction, the chief financial officer now directly owns 1,461,509 shares in the company, valued at $49,998,222.89. The trade was a 0.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jack R. Lazar sold 2,500 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $34.75, for a total transaction of $86,875.00. Following the completion of the sale, the director now owns 26,697 shares in the company, valued at approximately $927,720.75. The trade was a 8.56 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 51,500 shares of company stock worth $1,711,135. 4.10% of the stock is owned by insiders.

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.