Renaissance Technologies LLC Grows Stock Holdings in Box, Inc. (NYSE:BOX)

Renaissance Technologies LLC lifted its position in Box, Inc. (NYSE:BOX) by 7.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,846,502 shares of the software maker’s stock after buying an additional 120,076 shares during the period. Renaissance Technologies LLC owned approximately 1.28% of BOX worth $48,822,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in BOX by 14.9% in the first quarter. Vanguard Group Inc. now owns 17,313,882 shares of the software maker’s stock worth $490,329,000 after purchasing an additional 2,249,082 shares during the last quarter. UBS Group AG grew its stake in BOX by 404.3% during the 4th quarter. UBS Group AG now owns 1,001,086 shares of the software maker’s stock worth $25,638,000 after buying an additional 802,564 shares during the last quarter. Principal Financial Group Inc. increased its position in BOX by 4,889.2% during the 1st quarter. Principal Financial Group Inc. now owns 813,234 shares of the software maker’s stock valued at $23,031,000 after buying an additional 796,934 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in BOX in the fourth quarter valued at about $19,606,000. Finally, Earnest Partners LLC boosted its holdings in BOX by 10.5% in the first quarter. Earnest Partners LLC now owns 7,340,474 shares of the software maker’s stock worth $207,882,000 after acquiring an additional 699,882 shares in the last quarter. Institutional investors own 86.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on BOX shares. Royal Bank of Canada restated an “underperform” rating and set a $21.00 price objective on shares of BOX in a report on Wednesday, August 28th. Morgan Stanley raised their price target on shares of BOX from $30.00 to $33.00 and gave the stock an “equal weight” rating in a report on Thursday, September 5th. Citigroup boosted their price objective on shares of BOX from $32.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. UBS Group upped their target price on BOX from $31.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $35.00 price target on shares of BOX in a research report on Wednesday, May 29th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, BOX presently has a consensus rating of “Moderate Buy” and an average target price of $31.22.

BOX Stock Performance

NYSE BOX opened at $33.43 on Wednesday. The firm has a market capitalization of $4.83 billion, a P/E ratio of 45.79 and a beta of 0.85. The stock has a 50-day simple moving average of $28.83 and a two-hundred day simple moving average of $27.69. Box, Inc. has a fifty-two week low of $23.29 and a fifty-two week high of $33.95.

BOX (NYSE:BOX) last announced its quarterly earnings results on Tuesday, August 27th. The software maker reported $0.44 earnings per share (EPS) for the quarter, beating 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 negative return on equity of 14.41% and a net margin of 13.94%. BOX’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.01 earnings per share. As a group, analysts forecast that Box, Inc. will post 0.23 earnings per share for the current year.

Insider Activity at BOX

In other BOX news, Director Jack R. Lazar sold 7,000 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $32.68, for a total value of $228,760.00. Following the completion of the transaction, the director now owns 29,197 shares in the company, valued at $954,157.96. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Jack R. Lazar sold 7,000 shares of BOX stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $32.68, for a total value of $228,760.00. Following the completion of the transaction, the director now owns 29,197 shares in the company, valued at approximately $954,157.96. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Dylan C. Smith sold 13,000 shares of the company’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $24.97, for a total value of $324,610.00. Following the completion of the transaction, the chief financial officer now directly owns 1,526,661 shares of the company’s stock, valued at approximately $38,120,725.17. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 73,260 shares of company stock worth $2,113,560. 4.10% of the stock is owned by company 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.