Mutual of America Capital Management LLC Cuts Stake in Box, Inc. (NYSE:BOX)

Mutual of America Capital Management LLC trimmed its stake in Box, Inc. (NYSE:BOX) by 7.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 21,882 shares of the software maker’s stock after selling 1,845 shares during the quarter. Mutual of America Capital Management LLC’s holdings in BOX were worth $716,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of BOX. American International Group Inc. grew its stake in shares of BOX by 8.6% during the 1st quarter. American International Group Inc. now owns 76,185 shares of the software maker’s stock valued at $2,158,000 after buying an additional 6,062 shares during the period. Lazard Asset Management LLC grew its position in BOX by 358.3% during the first quarter. Lazard Asset Management LLC now owns 7,842 shares of the software maker’s stock valued at $221,000 after acquiring an additional 6,131 shares during the period. Tidal Investments LLC acquired a new stake in BOX during the first quarter worth about $391,000. Comerica Bank raised its holdings in shares of BOX by 964.7% in the 1st quarter. Comerica Bank now owns 85,081 shares of the software maker’s stock worth $2,409,000 after purchasing an additional 77,090 shares during the period. Finally, Teachers Retirement System of The State of Kentucky acquired a new position in shares of BOX in the 1st quarter valued at about $1,096,000. Institutional investors and hedge funds own 86.74% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on BOX. Citigroup increased their target price on shares of BOX from $32.00 to $34.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. UBS Group raised their target price on shares of BOX from $31.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. Royal Bank of Canada restated an “underperform” rating and set a $21.00 target price on shares of BOX in a report on Wednesday, August 28th. StockNews.com upgraded BOX from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 15th. Finally, Morgan Stanley boosted their price objective on BOX from $30.00 to $33.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, two have issued 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 an average rating of “Moderate Buy” and a consensus price target of $31.22.

BOX Stock Performance

NYSE:BOX opened at $35.51 on Wednesday. The stock has a market cap of $5.09 billion, a price-to-earnings ratio of 44.95 and a beta of 0.85. Box, Inc. has a one year low of $23.29 and a one year high of $35.74. The business’s 50-day simple moving average is $32.82 and its 200 day simple moving average is $29.49.

BOX (NYSE:BOX) last announced its 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. 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 analyst estimates of $269.52 million. During the same period in the prior year, the company posted $0.01 EPS. BOX’s quarterly revenue was up 3.3% on a year-over-year basis. On average, equities research analysts predict that Box, Inc. will post 0.23 EPS for the current year.

Insider Activity at BOX

In other 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 sale, the director now owns 29,197 shares in the company, valued at approximately $954,157.96. This represents a 19.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Dylan C. Smith sold 13,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $32.89, for a total value of $427,570.00. Following the sale, the chief financial officer now owns 1,500,661 shares in the company, valued at $49,356,740.29. The trade was a 0.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 58,500 shares of company stock valued at $1,939,895 over the last ninety days. Corporate insiders own 4.10% of the company’s stock.

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.