Congress Asset Management Co. Takes $46.24 Million Position in Box, Inc. (NYSE:BOX)

Congress Asset Management Co. purchased a new stake in shares of Box, Inc. (NYSE:BOX - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,412,653 shares of the software maker's stock, valued at approximately $46,236,000. Congress Asset Management Co. owned approximately 0.98% of BOX as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Quarry LP grew its stake in shares of BOX by 324.6% in the second quarter. Quarry LP now owns 1,418 shares of the software maker's stock worth $37,000 after purchasing an additional 1,084 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of BOX by 143.1% in the 3rd quarter. GAMMA Investing LLC now owns 1,337 shares of the software maker's stock worth $44,000 after purchasing an additional 787 shares in the last quarter. Toronto Dominion Bank purchased a new position in BOX in the 2nd quarter worth approximately $53,000. Nisa Investment Advisors LLC raised its holdings in BOX by 31.7% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,627 shares of the software maker's stock worth $69,000 after acquiring an additional 632 shares during the last quarter. Finally, Quest Partners LLC purchased a new stake in BOX during the 2nd quarter valued at $95,000. Hedge funds and other institutional investors own 86.74% of the company's stock.

BOX Stock Performance

Shares of BOX stock traded down $0.37 during trading on Thursday, hitting $31.77. 941,037 shares of the company's stock were exchanged, compared to its average volume of 2,006,028. Box, Inc. has a 52-week low of $23.29 and a 52-week high of $33.95. The business has a 50-day simple moving average of $32.24 and a 200-day simple moving average of $28.60. The stock has a market capitalization of $4.55 billion, a price-to-earnings ratio of 40.22 and a beta of 0.85.

BOX (NYSE:BOX - Get Free Report) last released its quarterly 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 net margin of 13.94% and a negative return on equity of 14.41%. The firm had revenue of $270.04 million during the quarter, compared to the consensus estimate of $269.52 million. During the same quarter in the prior year, the firm earned $0.01 EPS. The company's revenue for the quarter was up 3.3% on a year-over-year basis. On average, equities analysts anticipate that Box, Inc. will post 0.23 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on BOX shares. Monness Crespi & Hardt upgraded shares of BOX to a "hold" rating in a research note on Friday, August 16th. Citigroup increased 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. Morgan Stanley upped their target price on shares of BOX from $30.00 to $33.00 and gave the company an "equal weight" rating in a research report on Thursday, September 5th. Royal Bank of Canada reissued an "underperform" rating and issued a $21.00 price objective on shares of BOX in a research report on Wednesday, August 28th. Finally, UBS Group raised their target price on shares of BOX from $31.00 to $34.00 and gave the stock a "buy" rating in a research report on Wednesday, August 28th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $31.22.

Insider Activity

In other BOX news, Director Jack R. Lazar sold 7,000 shares of the 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 sale, the director now directly owns 29,197 shares in the company, valued at $954,157.96. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Aaron Levie sold 10,000 shares of the stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $32.92, for a total value of $329,200.00. Following the transaction, the chief executive officer now directly owns 3,009,155 shares of the company's stock, valued at $99,061,382.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jack R. Lazar sold 7,000 shares of the stock in a transaction 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 directly owns 29,197 shares in the company, valued at $954,157.96. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 56,000 shares of company stock valued at $1,759,940 in the last 90 days. Company insiders own 4.10% of the company's stock.

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.