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 shares of Box, Inc. (NYSE:BOX - Free Report) by 36.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor 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.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BOX. Thurston Springer Miller Herd & Titak Inc. grew its holdings in shares of BOX by 332.5% during 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 last quarter. MorganRosel Wealth Management LLC bought a new position in shares of BOX during the first quarter valued at $31,000. Versant Capital Management Inc lifted its holdings in shares of BOX by 519.4% during 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 period. TD Waterhouse Canada Inc. grew its stake 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 worth $69,000 after purchasing an additional 653 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its holdings in BOX by 43.8% in the first quarter. Farther Finance Advisors LLC now owns 3,709 shares of the software maker's stock valued at $116,000 after purchasing an additional 1,130 shares during the period. 86.74% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, VP Eli Berkovitch sold 3,000 shares of the stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $33.34, for a total value of $100,020.00. Following the transaction, the vice president directly owned 133,867 shares of the company's stock, valued at approximately $4,463,125.78. This represents a 2.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dana L. Evan sold 7,590 shares of the business's stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $33.51, for a total value of $254,340.90. Following the completion of the sale, the director owned 115,725 shares of the company's stock, valued at $3,877,944.75. This trade represents a 6.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 108,925 shares of company stock worth $3,817,023 over the last 90 days. Corporate insiders own 3.90% of the company's stock.

BOX Price Performance

BOX stock traded down $0.16 during midday trading on Tuesday, reaching $32.71. 230,334 shares of the company traded hands, compared to its average volume of 1,919,051. Box, Inc. has a 12 month low of $25.96 and a 12 month high of $38.80. The firm has a market capitalization of $4.70 billion, a price-to-earnings ratio of 25.38 and a beta of 0.90. The business has a 50 day moving average of $34.24 and a two-hundred day moving average of $32.65.

BOX (NYSE:BOX - Get Free Report) last issued its earnings results on Tuesday, May 27th. The software maker reported $0.30 earnings per share for the quarter, topping 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 firm had revenue of $276.27 million during the quarter, compared to analyst estimates of $274.77 million. During the same quarter in the prior year, the business earned $0.39 earnings per share. BOX's revenue for the quarter was up 4.4% on a year-over-year basis. As a group, equities analysts forecast that Box, Inc. will post 0.27 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on BOX. Royal Bank Of Canada increased their target price on BOX from $21.00 to $24.00 and gave the stock an "underperform" rating 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. UBS Group upgraded shares of BOX from a "buy" rating to a "strong-buy" rating and raised their price target for the stock from $37.00 to $40.00 in a research note on Wednesday, May 28th. Morgan Stanley restated a "positive" rating on shares of BOX in a research note on Wednesday, May 28th. Finally, JPMorgan Chase & Co. increased their price target on BOX from $37.00 to $39.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 28th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $38.50.

BOX 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.