Bank of New York Mellon Corp Cuts Stock Position in Box, Inc. $BOX

Bank of New York Mellon Corp lessened its holdings in Box, Inc. (NYSE:BOX - Free Report) by 6.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 886,786 shares of the software maker's stock after selling 57,685 shares during the period. Bank of New York Mellon Corp owned approximately 0.64% of BOX worth $20,964,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of BOX. Principal Financial Group Inc. increased its holdings in shares of BOX by 10.2% in the 1st quarter. Principal Financial Group Inc. now owns 1,010,921 shares of the software maker's stock worth $23,898,000 after buying an additional 93,516 shares during the last quarter. Sequoia Financial Advisors LLC bought a new position in shares of BOX in the 1st quarter valued at about $245,000. Hsbc Holdings PLC grew its position in BOX by 108.9% in the first quarter. Hsbc Holdings PLC now owns 77,371 shares of the software maker's stock worth $1,839,000 after acquiring an additional 40,341 shares in the last quarter. Abel Hall LLC grew its position in BOX by 30.9% in the first quarter. Abel Hall LLC now owns 13,178 shares of the software maker's stock worth $312,000 after acquiring an additional 3,110 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd increased its stake in BOX by 367.6% during the first quarter. Y Intercept Hong Kong Ltd now owns 108,698 shares of the software maker's stock worth $2,570,000 after acquiring an additional 85,453 shares during the last quarter. Hedge funds and other institutional investors own 86.74% of the company's stock.

BOX Price Performance

Shares of NYSE BOX opened at $31.54 on Wednesday. Box, Inc. has a 1 year low of $21.34 and a 1 year high of $33.88. The firm has a 50-day simple moving average of $27.29 and a two-hundred day simple moving average of $25.54. The company has a market cap of $4.37 billion, a P/E ratio of 48.52, a PEG ratio of 10.64 and a beta of 0.74.

BOX (NYSE:BOX - Get Free Report) last released its earnings results on Tuesday, May 26th. The software maker reported $0.37 EPS for the quarter, beating analysts' consensus estimates of $0.36 by $0.01. BOX had a negative return on equity of 24.19% and a net margin of 10.35%.The firm had revenue of $305.94 million for the quarter, compared to analysts' expectations of $304.39 million. During the same quarter in the prior year, the firm posted $0.30 earnings per share. The company's quarterly revenue was up 10.7% on a year-over-year basis. BOX has set its Q2 2027 guidance at 0.390-0.390 EPS and its FY 2027 guidance at 1.560-1.560 EPS. As a group, equities research analysts expect that Box, Inc. will post 0.31 EPS for the current year.

Insider Activity at BOX

In related news, COO Olivia Nottebohm sold 5,834 shares of the firm's stock in a transaction dated Tuesday, July 21st. The shares were sold at an average price of $30.13, for a total value of $175,778.42. Following the transaction, the chief operating officer owned 519,216 shares of the company's stock, valued at $15,643,978.08. This trade represents a 1.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Aaron Levie sold 15,000 shares of BOX stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $24.32, for a total transaction of $364,800.00. Following the sale, the chief executive officer owned 2,874,673 shares of the company's stock, valued at $69,912,047.36. The trade was a 0.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 114,294 shares of company stock valued at $2,981,979 over the last ninety days. Company insiders own 3.99% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on BOX. Citigroup upped their price objective on BOX from $36.00 to $37.00 and gave the company a "buy" rating in a research report on Wednesday, May 27th. DA Davidson reissued a "buy" rating and set a $45.00 target price on shares of BOX in a research report on Wednesday, May 27th. Weiss Ratings upgraded BOX from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, July 23rd. UBS Group raised their price target on BOX from $28.00 to $29.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 27th. Finally, Wall Street Zen lowered shares of BOX from a "strong-buy" rating to a "buy" rating in a research note on Saturday, May 9th. Three investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, BOX has an average rating of "Hold" and an average target price of $35.33.

About BOX

Box, Inc is a leading provider of cloud content management and file sharing solutions designed to support enterprises in securely managing, accessing and collaborating on digital content from anywhere. The company offers a unified platform that enables organizations to store, share and automate workflows across various departments, enhancing productivity and ensuring governance over sensitive information. Box's services are tailored to meet the needs of industries such as healthcare, financial services, government and media, where compliance and data security are paramount.

The core offerings of Box include its Content Cloud platform, which provides content collaboration, workflow automation, data classification and secure file sharing.

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