Champlain Investment Partners LLC Sells 1,733,729 Shares of Box, Inc. (NYSE:BOX)

Champlain Investment Partners LLC reduced its position in Box, Inc. (NYSE:BOX) by 56.7% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,326,515 shares of the software maker’s stock after selling 1,733,729 shares during the period. Champlain Investment Partners LLC’s holdings in BOX were worth $43,417,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Quarry LP lifted its position in BOX by 324.6% during the second quarter. Quarry LP now owns 1,418 shares of the software maker’s stock valued at $37,000 after acquiring an additional 1,084 shares during the last quarter. GAMMA Investing LLC grew its holdings in BOX by 143.1% in the third quarter. GAMMA Investing LLC now owns 1,337 shares of the software maker’s stock worth $44,000 after purchasing an additional 787 shares during the last quarter. Toronto Dominion Bank acquired a new position in shares of BOX during the second quarter worth $53,000. Nisa Investment Advisors LLC lifted its holdings in shares of BOX by 31.7% during 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, Farther Finance Advisors LLC boosted its position in shares of BOX by 245.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,162 shares of the software maker’s stock worth $71,000 after purchasing an additional 1,536 shares in the last quarter. Hedge funds and other institutional investors own 86.74% of the company’s stock.

Analyst Ratings Changes

BOX has been the topic of several recent analyst reports. Monness Crespi & Hardt raised BOX to a “hold” rating in a research report on Friday, August 16th. StockNews.com upgraded shares of BOX from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 15th. Morgan Stanley increased their price objective 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. Citigroup boosted 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. Finally, UBS Group upped their price target 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. One analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $31.22.

BOX Price Performance

BOX stock opened at $34.28 on Friday. The firm’s fifty day simple moving average is $32.77 and its 200-day simple moving average is $29.40. Box, Inc. has a 12 month low of $23.29 and a 12 month high of $35.07. The company has a market capitalization of $4.91 billion, a P/E ratio of 43.39 and a beta of 0.85.

BOX (NYSE:BOX) last announced 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. The company had revenue of $270.04 million for 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%. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period last year, the firm earned $0.01 EPS. As a group, sell-side analysts forecast that Box, Inc. will post 0.23 earnings per share for the current year.

Insider Activity at BOX

In other news, CEO Aaron Levie sold 10,000 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $32.92, for a total transaction of $329,200.00. Following the sale, the chief executive officer now directly owns 3,009,155 shares of the company’s stock, valued at $99,061,382.60. This represents a 0.33 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jack R. Lazar sold 7,000 shares of the firm’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 $954,157.96. This trade represents a 19.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 58,500 shares of company stock worth $1,939,895. 4.10% of the stock is owned by corporate 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.