Vanguard Group Inc. Trims Stock Position in Box, Inc. $BOX

Key Points

• Vanguard Group Inc. reduced its position in Box, Inc. by 0.8%, owning approximately 12.49% of the company after selling 147,472 shares.
• Multiple institutional investors increased their holdings in Box, Inc., with PNC Financial Services Group raising its stake by 24.7% during the 1st quarter.
• Wall Street analysts generally have a positive outlook on Box, Inc., with target prices ranging from $39.00 to $42.00 and a consensus rating of "Moderate Buy."

Vanguard Group Inc. decreased its position in Box, Inc. (NYSE:BOX - Free Report) by 0.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,961,151 shares of the software maker's stock after selling 147,472 shares during the period. Vanguard Group Inc. owned approximately 12.49% of BOX worth $554,281,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of BOX by 219.4% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 420,907 shares of the software maker's stock valued at $13,301,000 after buying an additional 289,112 shares during the last quarter. Janus Henderson Group PLC increased its holdings in shares of BOX by 126.0% in the 4th quarter. Janus Henderson Group PLC now owns 487,387 shares of the software maker's stock worth $15,399,000 after purchasing an additional 271,745 shares in the last quarter. Freestone Grove Partners LP bought a new stake in shares of BOX in the 4th quarter worth $8,551,000. Raymond James Financial Inc. purchased a new position in shares of BOX in the fourth quarter worth $8,405,000. Finally, Edgestream Partners L.P. boosted its position in shares of BOX by 248.8% during the first quarter. Edgestream Partners L.P. now owns 294,887 shares of the software maker's stock valued at $9,100,000 after buying an additional 210,350 shares during the last quarter. Institutional investors own 86.74% of the company's stock.

Insider Activity

In related news, CFO Dylan C. Smith sold 13,000 shares of the stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $37.23, for a total transaction of $483,990.00. Following the completion of the transaction, the chief financial officer directly owned 1,507,550 shares of the company's stock, valued at approximately $56,126,086.50. This represents a 0.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Dana L. Evan sold 7,590 shares of BOX stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $33.51, for a total value of $254,340.90. Following the completion of the sale, the director directly owned 115,725 shares in the company, valued at approximately $3,877,944.75. The trade was a 6.15% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 94,504 shares of company stock valued at $3,363,371. 3.90% of the stock is owned by corporate insiders.

BOX Stock Up 0.1%

BOX stock traded up $0.02 during trading on Monday, reaching $31.61. The company's stock had a trading volume of 494,863 shares, compared to its average volume of 1,891,388. The company's fifty day moving average is $33.32 and its 200-day moving average is $32.63. The company has a market capitalization of $4.55 billion, a P/E ratio of 24.50 and a beta of 0.96. Box, Inc. has a 1 year low of $28.00 and a 1 year high of $38.80.

BOX (NYSE:BOX - Get Free Report) last issued its earnings results on Tuesday, May 27th. The software maker reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.05. BOX had a negative return on equity of 20.17% and a net margin of 21.38%. The company had revenue of $276.27 million for the quarter, compared to the consensus estimate of $274.77 million. During the same quarter last year, the company earned $0.39 EPS. The firm's quarterly revenue was up 4.4% on a year-over-year basis. Analysts anticipate that Box, Inc. will post 0.27 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on BOX shares. Royal Bank Of Canada raised their price target on shares of BOX from $21.00 to $24.00 and gave the company an "underperform" rating in a report on Wednesday, May 28th. UBS Group raised shares of BOX from a "buy" rating to a "strong-buy" rating and lifted their target price for the stock from $37.00 to $40.00 in a research report on Wednesday, May 28th. Raymond James Financial reissued an "outperform" rating and set a $42.00 price target (up from $38.00) on shares of BOX in a report on Wednesday, May 28th. Wall Street Zen lowered BOX from a "buy" rating to a "hold" rating in a report on Sunday, June 29th. Finally, Morgan Stanley reissued a "positive" rating on shares of BOX in a report on Wednesday, May 28th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, BOX presently has a consensus rating of "Moderate Buy" and a consensus price target of $38.50.

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.