Principal Financial Group Inc. Sells 33,861 Shares of Box, Inc. (NYSE:BOX)

Principal Financial Group Inc. decreased its stake in shares of Box, Inc. (NYSE:BOX - Free Report) by 4.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 760,138 shares of the software maker's stock after selling 33,861 shares during the quarter. Principal Financial Group Inc. owned about 0.53% of BOX worth $24,879,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the stock. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in BOX by 3.7% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 15,831 shares of the software maker's stock worth $419,000 after acquiring an additional 560 shares during the period. Connable Office Inc. boosted its position in shares of BOX by 3.8% during the second quarter. Connable Office Inc. now owns 15,707 shares of the software maker's stock worth $415,000 after buying an additional 573 shares during the period. Creative Planning grew its position in shares of BOX by 4.2% during the third quarter. Creative Planning now owns 15,743 shares of the software maker's stock worth $515,000 after buying an additional 631 shares in the last quarter. Nisa Investment Advisors LLC raised its position in BOX by 31.7% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,627 shares of the software maker's stock valued at $69,000 after purchasing an additional 632 shares during the last quarter. Finally, Diversified Trust Co grew its stake in shares of BOX by 2.9% during the 2nd quarter. Diversified Trust Co now owns 26,980 shares of the software maker's stock worth $713,000 after purchasing an additional 768 shares during the period. 86.74% of the stock is currently owned by hedge funds and other institutional investors.

BOX Stock Performance

BOX stock traded up $0.57 during trading on Wednesday, reaching $34.81. 633,070 shares of the company's stock were exchanged, compared to its average volume of 1,990,272. Box, Inc. has a 52-week low of $23.29 and a 52-week high of $35.07. The company's 50-day moving average is $32.62 and its two-hundred day moving average is $29.00. The firm has a market cap of $4.99 billion, a price-to-earnings ratio of 44.32 and a beta of 0.85.

BOX (NYSE:BOX - Get Free Report) last announced its earnings results on Tuesday, August 27th. The software maker reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.04. BOX had a net margin of 13.94% and a negative return on equity of 14.41%. The business had revenue of $270.04 million during the quarter, compared to the consensus estimate of $269.52 million. During the same period in the prior year, the firm earned $0.01 earnings per share. The business's quarterly revenue was up 3.3% compared to the same quarter last year. Analysts anticipate that Box, Inc. will post 0.23 EPS for the current year.

Insider Buying and Selling

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 transaction of $228,760.00. Following the completion of the sale, the director now directly owns 29,197 shares of the company's stock, valued at approximately $954,157.96. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Dylan C. Smith sold 13,000 shares of the firm'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 transaction of $427,570.00. Following the completion of the sale, the chief financial officer now directly owns 1,500,661 shares in the company, valued at approximately $49,356,740.29. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 that occurred on 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. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 43,000 shares of company stock valued at $1,408,290. 4.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on BOX. Citigroup upped their price objective on shares of BOX from $32.00 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 price objective on shares of BOX in a report on Wednesday, August 28th. Morgan Stanley upped their target price on BOX from $30.00 to $33.00 and gave the company an "equal weight" rating in a research note on Thursday, September 5th. Monness Crespi & Hardt upgraded BOX to a "hold" rating in a report on Friday, August 16th. Finally, UBS Group increased their price objective on shares of BOX from $31.00 to $34.00 and gave the stock a "buy" rating in a report on Wednesday, August 28th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $31.22.

BOX 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.