Citigroup Inc. Cuts Stake in Box, Inc. (NYSE:BOX)

Citigroup Inc. lowered its holdings in shares of Box, Inc. (NYSE:BOX – Get Rating) by 64.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 115,788 shares of the software maker’s stock after selling 212,117 shares during the quarter. Citigroup Inc.’s holdings in BOX were worth $3,604,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Los Angeles Capital Management LLC purchased a new position in BOX in the 4th quarter worth approximately $619,000. Moors & Cabot Inc. purchased a new stake in BOX during the 4th quarter valued at $206,000. Cyndeo Wealth Partners LLC bought a new stake in BOX in the 4th quarter worth $2,133,000. Russell Investments Group Ltd. increased its position in shares of BOX by 51.4% in the third quarter. Russell Investments Group Ltd. now owns 617,675 shares of the software maker’s stock valued at $15,082,000 after acquiring an additional 209,752 shares during the period. Finally, Stephens Investment Management Group LLC raised its stake in shares of BOX by 27.1% during the third quarter. Stephens Investment Management Group LLC now owns 1,307,391 shares of the software maker’s stock valued at $31,887,000 after acquiring an additional 278,525 shares during the last quarter. 85.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at BOX

In related news, CFO Dylan C. Smith sold 13,000 shares of the stock in a transaction dated Wednesday, May 10th. The shares were sold at an average price of $27.29, for a total transaction of $354,770.00. Following the sale, the chief financial officer now directly owns 1,520,900 shares of the company’s stock, valued at approximately $41,505,361. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Jack R. Lazar sold 5,000 shares of BOX stock in a transaction dated Wednesday, April 5th. The stock was sold at an average price of $26.95, for a total value of $134,750.00. Following the completion of the sale, the director now directly owns 26,555 shares in the company, valued at approximately $715,657.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Dylan C. Smith sold 13,000 shares of the company’s stock in a transaction dated Wednesday, May 10th. The shares were sold at an average price of $27.29, for a total transaction of $354,770.00. Following the transaction, the chief financial officer now owns 1,520,900 shares in the company, valued at approximately $41,505,361. The disclosure for this sale can be found here. Insiders sold a total of 44,000 shares of company stock valued at $1,173,060 in the last quarter. 5.20% of the stock is owned by insiders.

BOX Price Performance

NYSE:BOX opened at $27.51 on Monday. The firm’s 50-day moving average price is $26.50 and its 200-day moving average price is $29.05. The company has a market capitalization of $3.97 billion, a PE ratio of 550.20, a P/E/G ratio of 13.31 and a beta of 1.01. Box, Inc. has a 1-year low of $22.31 and a 1-year high of $34.98.

BOX (NYSE:BOX – Get Rating) last posted its quarterly earnings data on Wednesday, March 1st. The software maker reported $0.07 EPS for the quarter, topping the consensus estimate of $0.03 by $0.04. BOX had a net margin of 2.70% and a negative return on equity of 2.53%. The business had revenue of $256.48 million for the quarter, compared to analyst estimates of $256.29 million. Equities analysts anticipate that Box, Inc. will post 0.1 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently issued reports on BOX shares. StockNews.com initiated coverage on BOX in a research note on Thursday. They issued a “buy” rating on the stock. Morgan Stanley reduced their target price on BOX from $39.00 to $37.00 and set an “overweight” rating on the stock in a research note on Thursday, March 2nd. Credit Suisse Group reiterated an “outperform” rating and issued a $36.00 price target on shares of BOX in a report on Thursday, March 2nd. JMP Securities restated a “market outperform” rating and issued a $32.00 price objective on shares of BOX in a report on Thursday, March 16th. Finally, Royal Bank of Canada dropped their target price on shares of BOX from $24.00 to $21.00 and set an “underperform” rating for the company in a research report on Wednesday, March 15th. One investment analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, BOX currently has an average rating of “Moderate Buy” and a consensus target price of $34.20.

BOX Profile

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Box, Inc engages in the provision of an enterprise content platform that enables organizations to securely manage enterprise content while allowing easy, secure access and sharing of this content from anywhere, on any device. Its products include cloud content management, IT and admin controls, Box Governance, Box Zones, Box Relay, Box Shuttle, and Box KeySafe.