Abacus FCF Advisors LLC Sells 13,594 Shares of Box, Inc. (NYSE:BOX)

Abacus FCF Advisors LLC reduced its stake in Box, Inc. (NYSE:BOX - Free Report) by 12.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 91,532 shares of the software maker's stock after selling 13,594 shares during the quarter. Abacus FCF Advisors LLC owned approximately 0.06% of BOX worth $2,825,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Janney Montgomery Scott LLC raised its stake in shares of BOX by 5.3% in the fourth quarter. Janney Montgomery Scott LLC now owns 7,807 shares of the software maker's stock worth $247,000 after buying an additional 391 shares during the period. Bleakley Financial Group LLC bought a new position in shares of BOX in the fourth quarter worth approximately $200,000. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of BOX by 2.6% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 17,340 shares of the software maker's stock worth $548,000 after purchasing an additional 442 shares during the period. Summit Trail Advisors LLC increased its stake in shares of BOX by 29.2% in the fourth quarter. Summit Trail Advisors LLC now owns 26,596 shares of the software maker's stock worth $840,000 after purchasing an additional 6,017 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in shares of BOX by 182.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 39,608 shares of the software maker's stock valued at $1,241,000 after purchasing an additional 25,587 shares during the period. 86.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on BOX. Morgan Stanley reaffirmed a "positive" rating on shares of BOX in a report on Wednesday, May 28th. Royal Bank of Canada increased their target price on BOX from $21.00 to $24.00 and gave the stock an "underperform" rating in a research report on Wednesday, May 28th. UBS Group raised BOX from a "buy" rating to a "strong-buy" rating and lifted their target price for the company from $37.00 to $40.00 in a research note on Wednesday, May 28th. JPMorgan Chase & Co. boosted their price target on BOX from $37.00 to $39.00 and gave the stock an "overweight" rating in a report on Wednesday, May 28th. Finally, DA Davidson set a $45.00 price objective on shares of BOX and gave the company a "buy" rating in a report on Wednesday, May 28th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, BOX presently has a consensus rating of "Moderate Buy" and a consensus price target of $38.50.

BOX Trading Down 2.6%

Shares of NYSE:BOX traded down $0.98 during mid-day trading on Tuesday, reaching $36.47. The stock had a trading volume of 3,991,768 shares, compared to its average volume of 1,940,260. The business's 50 day moving average price is $31.99 and its 200 day moving average price is $32.34. Box, Inc. has a 1 year low of $24.63 and a 1 year high of $38.80. The company has a market cap of $5.24 billion, a P/E ratio of 45.59, a price-to-earnings-growth ratio of 4.42 and a beta of 0.94.

BOX (NYSE:BOX - Get Free Report) last released its quarterly earnings data on Tuesday, May 27th. The software maker reported $0.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.25 by $0.05. The business had revenue of $276.27 million for the quarter, compared to the consensus estimate of $274.77 million. BOX had a negative return on equity of 17.20% and a net margin of 13.96%. The company's revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.39 EPS. Analysts predict that Box, Inc. will post 0.27 earnings per share for the current fiscal year.

BOX announced that its Board of Directors has authorized a stock buyback plan on Tuesday, March 4th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the software maker to buy up to 3.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's management believes its stock is undervalued.

Insider Activity at BOX

In other news, COO Olivia Nottebohm sold 2,105 shares of the firm's stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $30.76, for a total value of $64,749.80. Following the completion of the sale, the chief operating officer now directly owns 427,113 shares of the company's stock, valued at $13,137,995.88. This trade represents a 0.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Eli Berkovitch sold 5,924 shares of BOX stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $37.70, for a total value of $223,334.80. Following the completion of the transaction, the vice president now owns 138,770 shares of the company's stock, valued at approximately $5,231,629. This trade represents a 4.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 86,800 shares of company stock valued at $2,925,612 over the last 90 days. 3.90% of the stock is owned by corporate 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.