Fifth Third Bancorp Sells 9,467 Shares of Box, Inc. (NYSE:BOX)

Fifth Third Bancorp decreased its holdings in Box, Inc. (NYSE:BOX - Free Report) by 16.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 49,049 shares of the software maker's stock after selling 9,467 shares during the quarter. Fifth Third Bancorp's holdings in BOX were worth $1,514,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Arrowstreet Capital Limited Partnership boosted its position in BOX by 103.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,386,370 shares of the software maker's stock valued at $107,009,000 after acquiring an additional 1,725,197 shares during the last quarter. Norges Bank bought a new stake in BOX during the fourth quarter valued at $29,973,000. Jupiter Asset Management Ltd. bought a new stake in BOX during the fourth quarter valued at $24,234,000. Fisher Asset Management LLC boosted its position in BOX by 420.6% during the fourth quarter. Fisher Asset Management LLC now owns 857,498 shares of the software maker's stock valued at $27,097,000 after acquiring an additional 692,784 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its position in BOX by 22.9% during the fourth quarter. Wells Fargo & Company MN now owns 1,633,647 shares of the software maker's stock valued at $51,623,000 after acquiring an additional 304,755 shares during the last quarter. Institutional investors own 86.74% of the company's stock.

BOX Price Performance

BOX opened at $35.55 on Monday. Box, Inc. has a fifty-two week low of $24.63 and a fifty-two week high of $38.80. The firm has a market capitalization of $5.11 billion, a PE ratio of 44.43, a P/E/G ratio of 4.42 and a beta of 0.94. The company's 50-day moving average is $32.50 and its 200 day moving average is $32.36.

BOX (NYSE:BOX - Get Free Report) last posted 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 13.96% and a negative return on equity of 17.20%. The company had revenue of $276.27 million for the quarter, compared to analyst estimates of $274.77 million. During the same quarter in the prior year, the business posted $0.39 EPS. The firm's revenue was up 4.4% compared to the same quarter last year. As a group, analysts expect that Box, Inc. will post 0.27 EPS for the current year.

BOX announced that its board has approved a stock buyback plan on Tuesday, March 4th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the software maker to reacquire up to 3.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board believes its stock is undervalued.

Analysts Set New Price Targets

A number of brokerages have commented on BOX. JPMorgan Chase & Co. upped their price target on shares of BOX from $37.00 to $39.00 and gave the company an "overweight" rating in a research report on Wednesday, May 28th. Wall Street Zen raised shares of BOX from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, May 14th. Morgan Stanley reiterated a "positive" rating on shares of BOX in a report on Wednesday, May 28th. DA Davidson set a $45.00 price objective on shares of BOX and gave the company a "buy" rating in a report on Wednesday, May 28th. Finally, Raymond James reiterated an "outperform" rating and set a $42.00 price objective (up previously from $38.00) on shares of BOX in a report on Wednesday, May 28th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $38.50.

Insider Buying and Selling

In other BOX news, Director Daniel J. Levin sold 37,499 shares of the stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $36.74, for a total value of $1,377,713.26. Following the completion of the sale, the director now owns 51,530 shares in the company, valued at approximately $1,893,212.20. This trade represents a 42.12% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Dylan C. Smith sold 13,000 shares of the stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $37.23, for a total transaction of $483,990.00. Following the completion of the sale, the chief financial officer now owns 1,507,550 shares of the company's stock, valued at approximately $56,126,086.50. This trade represents a 0.85% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 101,129 shares of company stock worth $3,459,346 in the last quarter. 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.

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