Fort Washington Investment Advisors Inc. OH Sells 232,420 Shares of Box, Inc. (NYSE:BOX)

Fort Washington Investment Advisors Inc. OH lessened its position in Box, Inc. (NYSE:BOX - Free Report) by 33.0% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 472,163 shares of the software maker's stock after selling 232,420 shares during the period. Fort Washington Investment Advisors Inc. OH owned approximately 0.33% of BOX worth $14,571,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Janney Montgomery Scott LLC grew its position in BOX by 5.3% in the 4th quarter. Janney Montgomery Scott LLC now owns 7,807 shares of the software maker's stock valued at $247,000 after purchasing an additional 391 shares during the period. Bleakley Financial Group LLC bought a new position in shares of BOX in the fourth quarter valued at $200,000. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of BOX by 2.6% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 17,340 shares of the software maker's stock worth $548,000 after acquiring an additional 442 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of BOX by 182.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 39,608 shares of the software maker's stock worth $1,241,000 after acquiring an additional 25,587 shares in the last quarter. Finally, New York State Teachers Retirement System raised its holdings in shares of BOX by 27.7% in the 4th quarter. New York State Teachers Retirement System now owns 63,528 shares of the software maker's stock worth $2,007,000 after acquiring an additional 13,789 shares during the last quarter. Institutional investors own 86.74% of the company's stock.

BOX Trading Down 0.8%

Shares of NYSE:BOX traded down $0.30 during midday trading on Friday, reaching $35.55. The company had a trading volume of 1,885,540 shares, compared to its average volume of 1,945,440. The stock has a market cap of $5.11 billion, a P/E 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 price is $32.35 and its 200 day moving average price is $32.39. Box, Inc. has a 52-week low of $24.63 and a 52-week high of $38.80.

BOX (NYSE:BOX - Get Free Report) last released its earnings results 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 13.96% and a negative return on equity of 17.20%. The firm had revenue of $276.27 million for the quarter, compared to analysts' expectations of $274.77 million. During the same period in the previous year, the company earned $0.39 earnings per share. The company's quarterly revenue was up 4.4% on a year-over-year basis. Research analysts forecast that Box, Inc. will post 0.27 EPS for the current fiscal year.

BOX declared that its Board of Directors has approved a stock buyback program on Tuesday, March 4th that allows the company to buyback $150.00 million in shares. This buyback authorization allows the software maker to reacquire up to 3.1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's management believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research firms have issued reports on BOX. Raymond James reiterated an "outperform" rating and set a $42.00 price target (up previously from $38.00) on shares of BOX in a research note on Wednesday, May 28th. Royal Bank of Canada lifted their target price on BOX from $21.00 to $24.00 and gave the company an "underperform" rating in a research report on Wednesday, May 28th. JPMorgan Chase & Co. upped their price target on BOX from $37.00 to $39.00 and gave the stock an "overweight" rating in a report on Wednesday, May 28th. UBS Group raised BOX from a "buy" rating to a "strong-buy" rating and increased their price target for the company from $37.00 to $40.00 in a research report on Wednesday, May 28th. Finally, 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. One analyst has rated the stock with a sell rating, one has issued a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $38.50.

Insider Buying and Selling at BOX

In other news, COO Olivia Nottebohm sold 2,105 shares of the firm's stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $30.76, for a total value of $64,749.80. Following the completion of the transaction, the chief operating officer now directly owns 427,113 shares in the company, valued at approximately $13,137,995.88. This trade represents a 0.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Dylan C. Smith sold 13,000 shares of the firm's stock in a transaction on Thursday, April 10th. The shares were sold at an average price of $29.72, for a total transaction of $386,360.00. Following the completion of the transaction, the chief financial officer now directly owns 1,463,951 shares of the company's stock, valued at approximately $43,508,623.72. The trade was a 0.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 101,129 shares of company stock valued at $3,459,346. Company 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.