Box, Inc. $BOX Shares Purchased by Hsbc Holdings PLC

Hsbc Holdings PLC lifted its stake in Box, Inc. (NYSE:BOX) by 953.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 184,812 shares of the software maker’s stock after acquiring an additional 167,270 shares during the period. Hsbc Holdings PLC owned 0.13% of BOX worth $6,283,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Portside Wealth Group LLC raised its holdings in BOX by 3.6% during the second quarter. Portside Wealth Group LLC now owns 10,380 shares of the software maker’s stock worth $355,000 after purchasing an additional 361 shares in the last quarter. Aviva PLC increased its position in shares of BOX by 3.4% during the 2nd quarter. Aviva PLC now owns 13,488 shares of the software maker’s stock valued at $461,000 after purchasing an additional 442 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its position in shares of BOX by 1.1% during the 2nd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 40,711 shares of the software maker’s stock valued at $1,391,000 after purchasing an additional 461 shares during the period. Franklin Resources Inc. raised its stake in shares of BOX by 2.1% in the 2nd quarter. Franklin Resources Inc. now owns 24,219 shares of the software maker’s stock worth $828,000 after buying an additional 489 shares in the last quarter. Finally, Covestor Ltd lifted its holdings in shares of BOX by 29.9% in the first quarter. Covestor Ltd now owns 2,142 shares of the software maker’s stock valued at $66,000 after buying an additional 493 shares during the period. 86.74% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Raymond James Financial reaffirmed an “outperform” rating and set a $42.00 target price on shares of BOX in a report on Wednesday, August 27th. DA Davidson restated a “buy” rating and set a $45.00 price objective on shares of BOX in a research report on Wednesday. Weiss Ratings downgraded shares of BOX from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, November 28th. UBS Group lowered shares of BOX from a “buy” rating to a “neutral” rating and cut their target price for the company from $42.00 to $36.00 in a research note on Thursday, September 18th. Finally, Citigroup lifted their price target on shares of BOX from $39.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, August 27th. Six equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, BOX currently has a consensus rating of “Moderate Buy” and an average price target of $38.25.

BOX Stock Performance

Shares of NYSE:BOX opened at $31.77 on Friday. The firm has a 50 day simple moving average of $31.77 and a 200 day simple moving average of $32.74. Box, Inc. has a 52 week low of $28.00 and a 52 week high of $38.80. The company has a market cap of $4.60 billion, a PE ratio of 25.62 and a beta of 0.79.

Insider Buying and Selling

In other news, Director Jack R. Lazar sold 5,000 shares of the firm’s stock in a transaction on Friday, September 26th. The stock was sold at an average price of $32.20, for a total value of $161,000.00. Following the completion of the sale, the director owned 27,855 shares of the company’s stock, valued at $896,931. This trade represents a 15.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Eli Berkovitch sold 3,500 shares of the company’s stock in a transaction on Tuesday, October 7th. The shares were sold at an average price of $32.77, for a total value of $114,695.00. Following the transaction, the vice president directly owned 128,847 shares in the company, valued at $4,222,316.19. The trade was a 2.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 122,336 shares of company stock valued at $3,986,999. 3.90% of the stock is currently owned by company insiders.

About BOX

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.