Cornercap Investment Counsel Inc. Sells 8,894 Shares of Box, Inc. (NYSE:BOX)

Cornercap Investment Counsel Inc. lessened its position in Box, Inc. (NYSE:BOX) by 48.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 9,521 shares of the software maker’s stock after selling 8,894 shares during the period. Cornercap Investment Counsel Inc.’s holdings in BOX were worth $312,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC lifted its position in BOX by 143.1% during the third quarter. GAMMA Investing LLC now owns 1,337 shares of the software maker’s stock valued at $44,000 after purchasing an additional 787 shares during the period. 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 purchasing an additional 1,084 shares during the period. Toronto Dominion Bank bought a new position in BOX during the second quarter valued at approximately $53,000. Farther Finance Advisors LLC lifted its position in BOX by 245.4% during the third quarter. Farther Finance Advisors LLC now owns 2,162 shares of the software maker’s stock valued at $71,000 after purchasing an additional 1,536 shares during the period. Finally, Nisa Investment Advisors LLC lifted its position in 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 purchasing an additional 632 shares during the period. Institutional investors own 86.74% of the company’s stock.

BOX Stock Performance

BOX opened at $33.53 on Monday. Box, Inc. has a fifty-two week low of $23.29 and a fifty-two week high of $35.07. The company has a fifty day moving average of $32.71 and a 200 day moving average of $29.17. The stock has a market capitalization of $4.80 billion, a price-to-earnings ratio of 42.44 and a beta of 0.85.

BOX (NYSE:BOX) last released its quarterly earnings data on Tuesday, August 27th. The software maker reported $0.44 EPS for the quarter, beating the consensus estimate of $0.40 by $0.04. The business had revenue of $270.04 million during the quarter, compared to analyst estimates of $269.52 million. BOX had a net margin of 13.94% and a negative return on equity of 14.41%. BOX’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.01 earnings per share. On average, equities research analysts forecast that Box, Inc. will post 0.23 earnings per share for the current year.

Insider Transactions at BOX

In other BOX news, Director Jack R. Lazar sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $34.75, for a total transaction of $86,875.00. Following the transaction, the director now owns 26,697 shares of the company’s stock, valued at approximately $927,720.75. This trade represents a 8.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Aaron Levie sold 10,000 shares of BOX stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $32.92, for a total transaction of $329,200.00. Following the completion of the transaction, the chief executive officer now directly owns 3,009,155 shares in the company, valued at approximately $99,061,382.60. The trade was a 0.33 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 58,500 shares of company stock worth $1,939,895. 4.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

BOX has been the topic of several recent research reports. UBS Group increased their price target 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. Royal Bank of Canada reiterated an “underperform” rating and issued a $21.00 price target on shares of BOX in a research report on Wednesday, August 28th. William Blair reiterated an “outperform” rating on shares of BOX in a research report on Thursday. Monness Crespi & Hardt upgraded shares of BOX to a “hold” rating in a research report on Friday, August 16th. Finally, Morgan Stanley increased their price target on shares of BOX from $30.00 to $33.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, BOX currently has a consensus rating of “Moderate Buy” and an average price target of $31.22.

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.