Summit Creek Advisors LLC Reduces Position in Box, Inc. (NYSE:BOX)

Summit Creek Advisors LLC cut its stake in shares of Box, Inc. (NYSE:BOX) by 5.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 177,792 shares of the software maker’s stock after selling 10,625 shares during the quarter. Summit Creek Advisors LLC’s holdings in BOX were worth $4,701,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in BOX. TFO Wealth Partners LLC grew its holdings in shares of BOX by 62,000.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,863 shares of the software maker’s stock valued at $48,000 after buying an additional 1,860 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of BOX by 31.7% during the second quarter. Nisa Investment Advisors LLC now owns 2,627 shares of the software maker’s stock valued at $69,000 after buying an additional 632 shares during the last quarter. Covestor Ltd grew its holdings in shares of BOX by 27.3% during the first quarter. Covestor Ltd now owns 4,312 shares of the software maker’s stock valued at $122,000 after buying an additional 924 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of BOX by 14.4% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,207 shares of the software maker’s stock valued at $154,000 after buying an additional 782 shares during the last quarter. Finally, Neo Ivy Capital Management purchased a new stake in shares of BOX during the fourth quarter valued at $156,000. 86.74% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related 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 transaction 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, VP Eli Berkovitch sold 2,500 shares of the company’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $25.25, for a total transaction of $63,125.00. Following the completion of the transaction, the vice president now owns 147,232 shares in the company, valued at approximately $3,717,608. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Jack R. Lazar sold 7,000 shares of the company’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $32.68, for a total transaction of $228,760.00. Following the transaction, the director now owns 29,197 shares of the company’s stock, valued at approximately $954,157.96. The disclosure for this sale can be found here. Insiders sold a total of 66,560 shares of company stock worth $1,785,200 in the last 90 days. Insiders own 4.10% of the company’s stock.

Wall Street Analysts Forecast Growth

BOX has been the topic of a number of research analyst reports. Morgan Stanley boosted their price objective on shares of BOX from $30.00 to $33.00 and gave the company an “equal weight” rating in a report on Thursday. Oppenheimer restated an “outperform” rating and set a $35.00 target price on shares of BOX in a research report on Wednesday, May 29th. StockNews.com upgraded shares of BOX from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 15th. Citigroup boosted their target price on shares of BOX from $32.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. Finally, Royal Bank of Canada restated an “underperform” rating and set a $21.00 target price on shares of BOX in a research report on Wednesday, August 28th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $31.22.

BOX Stock Performance

Shares of BOX stock opened at $32.96 on Friday. The firm has a 50-day simple moving average of $27.88 and a two-hundred day simple moving average of $27.29. The company has a market cap of $4.76 billion, a P/E ratio of 44.85 and a beta of 0.86. Box, Inc. has a fifty-two week low of $23.29 and a fifty-two week high of $33.45.

BOX (NYSE:BOX) last issued its quarterly earnings data on Tuesday, August 27th. The software maker reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.04. The business 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%. The company’s revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.01 earnings per share. Equities research analysts forecast that Box, Inc. will post 0.2 EPS for the current year.

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.