Box, Inc. (NYSE:BOX) Shares Sold by Tealwood Asset Management Inc.

Tealwood Asset Management Inc. trimmed its stake in Box, Inc. (NYSE:BOX) by 2.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 46,418 shares of the software maker’s stock after selling 1,148 shares during the quarter. Tealwood Asset Management Inc.’s holdings in BOX were worth $1,432,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of BOX. Arrowstreet Capital Limited Partnership grew its holdings in shares of BOX by 103.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,386,370 shares of the software maker’s stock worth $107,009,000 after acquiring an additional 1,725,197 shares during the last quarter. Norges Bank acquired a new position in shares of BOX in the 4th quarter worth $29,973,000. Jupiter Asset Management Ltd. acquired a new position in shares of BOX in the 4th quarter worth $24,234,000. Fisher Asset Management LLC grew its holdings in shares of BOX by 420.6% in the 4th quarter. Fisher Asset Management LLC now owns 857,498 shares of the software maker’s stock worth $27,097,000 after acquiring an additional 692,784 shares during the last quarter. Finally, Wells Fargo & Company MN grew its holdings in shares of BOX by 22.9% during the fourth quarter. Wells Fargo & Company MN now owns 1,633,647 shares of the software maker’s stock valued at $51,623,000 after buying an additional 304,755 shares in the last quarter. 86.74% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at BOX

In other BOX news, CEO Aaron Levie sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $32.08, for a total value of $320,800.00. Following the completion of the transaction, the chief executive officer now owns 2,979,780 shares of the company’s stock, valued at $95,591,342.40. This represents a 0.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Olivia Nottebohm sold 2,105 shares of the company’s stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $30.76, for a total value of $64,749.80. Following the completion of the transaction, the chief operating officer now directly owns 427,113 shares of the company’s stock, valued at approximately $13,137,995.88. This trade represents a 0.49% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 109,800 shares of company stock worth $3,661,762. 3.90% of the stock is owned by corporate insiders.

BOX Price Performance

Shares of NYSE BOX opened at $37.39 on Friday. The company has a market capitalization of $5.38 billion, a P/E ratio of 46.74, a price-to-earnings-growth ratio of 4.42 and a beta of 0.94. The business’s 50-day moving average price is $31.87 and its two-hundred day moving average price is $32.33. Box, Inc. has a one year low of $24.63 and a one year high of $38.80.

BOX (NYSE:BOX) last released its quarterly 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 company had revenue of $276.27 million during the quarter, compared to the consensus estimate of $274.77 million. BOX had a negative return on equity of 17.20% and a net margin of 13.96%. The firm’s revenue was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.39 EPS. On average, equities analysts anticipate that Box, Inc. will post 0.27 EPS for the current year.

BOX declared that its Board of Directors has initiated a share buyback program on Tuesday, March 4th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the software maker to purchase up to 3.1% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on BOX shares. Raymond James reissued an “outperform” rating and set a $42.00 price target (up from $38.00) on shares of BOX in a research report on Wednesday, May 28th. Wall Street Zen raised BOX from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, May 14th. UBS Group raised BOX from a “buy” rating to a “strong-buy” rating and upped their price target for the company from $37.00 to $40.00 in a research report on Wednesday, May 28th. Royal Bank of Canada upped their price target on BOX from $21.00 to $24.00 and gave the company an “underperform” rating in a research report on Wednesday, May 28th. Finally, Morgan Stanley reissued a “positive” rating on shares of BOX in a research report on Wednesday, May 28th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.50.

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.