Bank of New York Mellon Corp Lowers Position in Box, Inc. (NYSE:BOX)

Bank of New York Mellon Corp trimmed its stake in shares of Box, Inc. (NYSE:BOX - Free Report) by 1.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,279,414 shares of the software maker's stock after selling 24,635 shares during the quarter. Bank of New York Mellon Corp owned about 0.89% of BOX worth $39,483,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. boosted its position in shares of BOX by 332.5% in the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 865 shares of the software maker's stock valued at $27,000 after acquiring an additional 665 shares during the period. MorganRosel Wealth Management LLC bought a new stake in shares of BOX in the first quarter valued at about $31,000. Versant Capital Management Inc boosted its position in shares of BOX by 519.4% in the first quarter. Versant Capital Management Inc now owns 1,951 shares of the software maker's stock valued at $60,000 after acquiring an additional 1,636 shares during the period. TD Waterhouse Canada Inc. boosted its position in shares of BOX by 42.4% in the fourth quarter. TD Waterhouse Canada Inc. now owns 2,194 shares of the software maker's stock valued at $69,000 after acquiring an additional 653 shares during the period. Finally, Farther Finance Advisors LLC boosted its position in shares of BOX by 19.3% in the fourth quarter. Farther Finance Advisors LLC now owns 2,579 shares of the software maker's stock valued at $81,000 after acquiring an additional 417 shares during the period. Institutional investors own 86.74% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Royal Bank Of Canada boosted their target price on shares of BOX from $21.00 to $24.00 and gave the company an "underperform" rating in a research report on Wednesday, May 28th. Morgan Stanley reaffirmed a "positive" rating on shares of BOX in a research note on Wednesday, May 28th. Raymond James Financial reaffirmed an "outperform" rating and issued a $42.00 price target (up previously from $38.00) on shares of BOX in a research note on Wednesday, May 28th. DA Davidson set a $45.00 price target on BOX and gave the company a "buy" rating in a research note on Wednesday, May 28th. Finally, UBS Group raised BOX from a "buy" rating to a "strong-buy" rating and boosted their price target for the company from $37.00 to $40.00 in a research note on Wednesday, May 28th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, BOX currently has a consensus rating of "Moderate Buy" and a consensus target price of $38.50.

Insider Activity

In other BOX news, VP Eli Berkovitch sold 5,924 shares of the stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $37.70, for a total transaction of $223,334.80. Following the transaction, the vice president directly owned 138,770 shares in the company, valued at approximately $5,231,629. This represents a 4.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Daniel J. Levin sold 37,499 shares of the stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $36.74, for a total value of $1,377,713.26. Following the completion of the transaction, the director owned 51,530 shares in the company, valued at approximately $1,893,212.20. This represents a 42.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 109,017 shares of company stock worth $3,813,741. Company insiders own 3.90% of the company's stock.

BOX Stock Performance

Shares of NYSE:BOX traded down $0.07 during midday trading on Friday, hitting $32.42. 380,483 shares of the stock were exchanged, compared to its average volume of 1,965,738. The stock has a market capitalization of $4.66 billion, a price-to-earnings ratio of 25.11 and a beta of 0.90. The business's 50-day moving average price is $34.10 and its 200 day moving average price is $32.56. Box, Inc. has a 12 month low of $25.96 and a 12 month high of $38.80.

BOX (NYSE:BOX - Get Free Report) last released its quarterly earnings results on Tuesday, May 27th. The software maker reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.05. The company had revenue of $276.27 million for the quarter, compared to analysts' expectations of $274.77 million. BOX had a negative return on equity of 20.17% and a net margin of 21.38%. The business's quarterly revenue was up 4.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.39 earnings per share. As a group, sell-side analysts expect that Box, Inc. will post 0.27 EPS for the current year.

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.