Twenty Acre Capital LP Trims Stake in Box, Inc. (NYSE:BOX)

Twenty Acre Capital LP decreased its holdings in shares of Box, Inc. (NYSE:BOX) by 23.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 181,200 shares of the software maker’s stock after selling 54,500 shares during the period. BOX comprises approximately 5.2% of Twenty Acre Capital LP’s holdings, making the stock its 11th largest position. Twenty Acre Capital LP owned about 0.13% of BOX worth $5,931,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of BOX. Assenagon Asset Management S.A. grew its stake in shares of BOX by 143.6% in the 2nd 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 in the last quarter. Teachers Retirement System of The State of Kentucky bought a new position in BOX during the 1st quarter worth about $1,096,000. Comerica Bank raised its stake in BOX by 964.7% in the first quarter. Comerica Bank now owns 85,081 shares of the software maker’s stock worth $2,409,000 after buying an additional 77,090 shares in the last quarter. Bank of Montreal Can lifted its stake in shares of BOX by 16.0% during the 2nd quarter. Bank of Montreal Can now owns 351,850 shares of the software maker’s stock worth $9,514,000 after purchasing an additional 48,633 shares during the last quarter. Finally, Versor Investments LP bought a new position in BOX in the third quarter worth about $1,221,000. 86.74% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other BOX news, CEO Aaron Levie sold 10,000 shares of BOX stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $32.92, for a total transaction of $329,200.00. Following the transaction, the chief executive officer now owns 3,009,155 shares of the company’s stock, valued at $99,061,382.60. The trade was a 0.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Dylan C. Smith sold 13,000 shares of the stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $32.52, for a total value of $422,760.00. Following the completion of the sale, the chief financial officer now directly owns 1,474,509 shares of the company’s stock, valued at $47,951,032.68. The trade was a 0.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 51,500 shares of company stock worth $1,711,135. Corporate insiders own 4.10% of the company’s stock.

BOX Trading Up 0.1 %

BOX opened at $35.09 on Friday. The firm has a market cap of $5.03 billion, a price-to-earnings ratio of 44.35 and a beta of 0.85. The stock’s 50-day moving average price is $32.95 and its 200 day moving average price is $29.63. Box, Inc. has a 12-month low of $23.29 and a 12-month high of $35.74.

BOX (NYSE:BOX) last posted its earnings results on Tuesday, August 27th. The software maker reported $0.44 earnings per share for the quarter, topping 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 firm had revenue of $270.04 million during the quarter, compared to analysts’ expectations of $269.52 million. During the same quarter in the previous year, the business earned $0.01 earnings per share. The firm’s revenue was up 3.3% compared to the same quarter last year. On average, research analysts forecast that Box, Inc. will post 0.23 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on BOX. Citigroup raised their price target on shares of BOX from $32.00 to $34.00 and gave the company 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. Royal Bank of Canada reiterated an “underperform” rating and issued a $21.00 price target on shares of BOX in a research note on Wednesday, August 28th. Morgan Stanley boosted their price target on BOX from $30.00 to $33.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 5th. Finally, StockNews.com raised shares of BOX from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 15th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $31.22.

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 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.