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

Abacus FCF Advisors LLC lessened its position in shares of Box, Inc. (NYSE:BOX - Free Report) by 12.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 91,532 shares of the software maker's stock after selling 13,594 shares during the period. Abacus FCF Advisors LLC owned about 0.06% of BOX worth $2,825,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC grew its holdings in BOX by 184.4% during the first quarter. GAMMA Investing LLC now owns 4,135 shares of the software maker's stock worth $128,000 after purchasing an additional 2,681 shares during the period. Harbor Capital Advisors Inc. grew its holdings in BOX by 13.3% during the 1st quarter. Harbor Capital Advisors Inc. now owns 31,208 shares of the software maker's stock worth $963,000 after acquiring an additional 3,670 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in shares of BOX by 43.8% in the 1st quarter. Farther Finance Advisors LLC now owns 3,709 shares of the software maker's stock valued at $116,000 after purchasing an additional 1,130 shares during the last quarter. Portside Wealth Group LLC boosted its position in shares of BOX by 6.1% during the 1st quarter. Portside Wealth Group LLC now owns 10,019 shares of the software maker's stock valued at $309,000 after purchasing an additional 578 shares in the last quarter. Finally, Congress Asset Management Co. boosted its stake in BOX by 11.2% during the first quarter. Congress Asset Management Co. now owns 1,846,069 shares of the software maker's stock worth $56,970,000 after acquiring an additional 186,423 shares in the last quarter. 86.74% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

BOX has been the topic of a number of recent research reports. DA Davidson set a $45.00 target price on BOX and gave the company a "buy" rating in a report on Wednesday, May 28th. JPMorgan Chase & Co. upped their target price on shares of BOX from $37.00 to $39.00 and gave the stock an "overweight" rating in a report on Wednesday, May 28th. Raymond James reiterated an "outperform" rating and set a $42.00 price objective (up from $38.00) on shares of BOX in a research report on Wednesday, May 28th. UBS Group upgraded BOX from a "buy" rating to a "strong-buy" rating and raised their price target for the stock from $37.00 to $40.00 in a research report on Wednesday, May 28th. Finally, Morgan Stanley reaffirmed a "positive" rating on shares of BOX in a research note on Wednesday, May 28th. One analyst has rated the stock with a sell rating, one has given a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $38.50.

BOX Stock Down 0.8%

Shares of NYSE BOX traded down $0.30 during midday trading on Friday, hitting $35.55. The stock had a trading volume of 1,885,540 shares, compared to its average volume of 1,945,440. The company has a market cap of $5.11 billion, a P/E ratio of 44.43, a PEG ratio of 4.42 and a beta of 0.94. Box, Inc. has a 52 week low of $24.63 and a 52 week high of $38.80. The business's 50 day moving average is $32.50 and its 200-day moving average is $32.39.

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

BOX declared that its board has authorized a stock buyback plan on Tuesday, March 4th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the software maker to reacquire up to 3.1% of its shares through open market purchases. Shares buyback plans are often an indication that the company's board believes its stock is undervalued.

Insiders Place Their Bets

In related news, COO Olivia Nottebohm sold 1,329 shares of BOX stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $37.43, for a total transaction of $49,744.47. Following the transaction, the chief operating officer now owns 554,682 shares in the company, valued at approximately $20,761,747.26. The trade was a 0.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Dylan C. Smith sold 13,000 shares of BOX stock in a transaction that occurred on Thursday, April 10th. The shares were sold at an average price of $29.72, for a total value of $386,360.00. Following the sale, the chief financial officer now directly owns 1,463,951 shares in the company, valued at $43,508,623.72. This trade represents a 0.88% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 101,129 shares of company stock worth $3,459,346. Company insiders own 3.90% of the company's stock.

BOX Company Profile

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.