Box, Inc. (NYSE:BOX) Shares Sold by Burney Co.

Key Points

• Burney Co. reduced its holdings in Box, Inc. by 36.3%, selling 12,070 shares and ending with 21,192 shares worth $654,000.
• Box, Inc. announced earnings of $0.30 per share, exceeding estimates and achieving a 4.4% increase in revenue compared to the prior year's quarter.
• Analysts have adjusted their price targets for Box, Inc., with most ratings falling between buy and hold, and a consensus target price of $38.50.

Burney Co. lessened its holdings in Box, Inc. (NYSE:BOX - Free Report) by 36.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 21,192 shares of the software maker's stock after selling 12,070 shares during the period. Burney Co.'s holdings in BOX were worth $654,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. increased its stake in BOX by 332.5% in the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 865 shares of the software maker's stock worth $27,000 after purchasing an additional 665 shares during the period. MorganRosel Wealth Management LLC purchased a new position in shares of BOX in the first quarter worth about $31,000. Versant Capital Management Inc raised its stake 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 worth $60,000 after purchasing an additional 1,636 shares during the last quarter. TD Waterhouse Canada Inc. raised its position in BOX by 42.4% during 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 in the last quarter. Finally, Farther Finance Advisors LLC raised its position in BOX by 43.8% during the first quarter. Farther Finance Advisors LLC now owns 3,709 shares of the software maker's stock valued at $116,000 after acquiring an additional 1,130 shares in the last quarter. Institutional investors own 86.74% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on BOX shares. DA Davidson set a $45.00 target price on shares of BOX and gave the stock a "buy" rating in a research note on Wednesday, May 28th. Wall Street Zen cut BOX from a "buy" rating to a "hold" rating in a research note on Sunday, June 29th. Royal Bank Of Canada lifted their price objective on BOX from $21.00 to $24.00 and gave the company an "underperform" rating in a research note on Wednesday, May 28th. UBS Group upgraded BOX from a "buy" rating to a "strong-buy" rating and lifted their target price for the company from $37.00 to $40.00 in a report on Wednesday, May 28th. Finally, Raymond James Financial reissued 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. One analyst has rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, BOX presently has a consensus rating of "Moderate Buy" and an average price target of $38.50.

BOX Stock Performance

BOX stock traded up $0.01 during trading hours on Monday, reaching $33.00. 431,390 shares of the stock were exchanged, compared to its average volume of 1,925,172. Box, Inc. has a 52-week low of $25.96 and a 52-week high of $38.80. The firm's 50 day moving average is $34.22 and its 200 day moving average is $32.64. The stock has a market cap of $4.75 billion, a P/E ratio of 25.58 and a beta of 0.90.

BOX (NYSE:BOX - Get Free Report) last posted 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 21.38% and a negative return on equity of 20.17%. The business had revenue of $276.27 million during the quarter, compared to analyst estimates of $274.77 million. During the same quarter in the previous year, the business posted $0.39 earnings per share. The company's revenue was up 4.4% on a year-over-year basis. Equities research analysts expect that Box, Inc. will post 0.27 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Dylan C. Smith sold 13,000 shares of BOX stock in a transaction on Friday, May 9th. The shares were sold at an average price of $31.52, for a total transaction of $409,760.00. Following the sale, the chief financial officer owned 1,520,550 shares of the company's stock, valued at $47,927,736. The trade was a 0.85% 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 the company's stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $33.35, for a total transaction of $500,250.00. Following the completion of the transaction, the chief executive officer directly owned 2,952,030 shares of the company's stock, valued at approximately $98,450,200.50. The trade was a 0.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 108,925 shares of company stock valued at $3,817,023. Corporate insiders own 3.90% of the company's stock.

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.