Box, Inc. $BOX Shares Sold by Bank of America Corp DE

Key Points

• Bank of America reduced its Box holdings by 3.4% in the first quarter, selling 116,714 shares and retaining 3.35 million shares valued at approximately $79.2 million. Institutional investors and hedge funds collectively own 86.74% of BOX.
• Box reported quarterly EPS of $0.37, slightly above the $0.36 consensus estimate, while revenue rose 10.7% year over year to $305.94 million. The stock recently opened at $33.23, near its 12-month high of $33.88.
• Analyst sentiment remains mixed, with a consensus rating of “Hold” and an average price target of $35.33. Meanwhile, Box insiders sold 77,996 shares worth about $2.12 million over the past 90 days.

Bank of America Corp DE trimmed its holdings in Box, Inc. (NYSE:BOX - Free Report) by 3.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,351,199 shares of the software maker's stock after selling 116,714 shares during the quarter. Bank of America Corp DE owned about 2.42% of BOX worth $79,222,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in BOX. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in BOX by 8.6% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 5,093 shares of the software maker's stock worth $147,000 after acquiring an additional 405 shares during the period. ProShare Advisors LLC increased its holdings in shares of BOX by 1.7% during the fourth quarter. ProShare Advisors LLC now owns 27,634 shares of the software maker's stock valued at $827,000 after purchasing an additional 449 shares during the period. Smartleaf Asset Management LLC increased its holdings in shares of BOX by 22.9% during the second quarter. Smartleaf Asset Management LLC now owns 2,633 shares of the software maker's stock valued at $90,000 after purchasing an additional 490 shares during the period. First Horizon Corp raised its stake in shares of BOX by 148.1% during the fourth quarter. First Horizon Corp now owns 831 shares of the software maker's stock valued at $25,000 after purchasing an additional 496 shares in the last quarter. Finally, Maryland State Retirement & Pension System lifted its holdings in BOX by 2.4% in the fourth quarter. Maryland State Retirement & Pension System now owns 21,318 shares of the software maker's stock worth $638,000 after purchasing an additional 500 shares during the period. 86.74% of the stock is currently owned by institutional investors and hedge funds.

BOX Price Performance

BOX stock opened at $33.23 on Monday. The firm has a market cap of $4.60 billion, a PE ratio of 51.13, a P/E/G ratio of 11.73 and a beta of 0.73. Box, Inc. has a 12 month low of $21.34 and a 12 month high of $33.88. The firm has a 50 day simple moving average of $28.30 and a 200 day simple moving average of $25.77.

BOX (NYSE:BOX - Get Free Report) last posted its quarterly earnings results on Tuesday, May 26th. The software maker reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.01. The firm had revenue of $305.94 million for the quarter, compared to analyst estimates of $304.39 million. BOX had a net margin of 10.35% and a negative return on equity of 24.19%. The firm's quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.30 earnings per share. 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, sell-side analysts expect that Box, Inc. will post 0.31 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other news, VP Eli Berkovitch sold 1,800 shares of the company's stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $28.95, for a total transaction of $52,110.00. Following the completion of the sale, the vice president directly owned 109,254 shares of the company's stock, valued at $3,162,903.30. This represents a 1.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Dylan C. Smith sold 17,000 shares of the stock in a transaction on Friday, July 10th. The shares were sold at an average price of $29.05, for a total value of $493,850.00. Following the completion of the transaction, the chief financial officer owned 1,337,075 shares of the company's stock, valued at $38,842,028.75. This trade represents a 1.26% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 77,996 shares of company stock valued at $2,116,005. 3.99% of the stock is owned by insiders.

BOX Company Profile

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.

Want to see what other hedge funds are holding BOX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Box, Inc. (NYSE:BOX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source