Neuberger Berman Group LLC Reduces Holdings in Box, Inc. (NYSE:BOX)

Key Points

• Neuberger Berman Group LLC has reduced its holdings in Box, Inc. by 26.5%, owning approximately 0.48% of the company after selling 249,860 shares.
• Multiple hedge funds made significant adjustments to their positions, including TCTC Holdings LLC increasing its stake by 115.4% and Versant Capital Management Inc raising its position by 519.4% during the same quarter.
• Analysts have mixed ratings for Box, with UBS Group raising its rating to "strong-buy" and others like Wall Street Zen downgrading it to "hold," resulting in an average rating of "Moderate Buy."

Neuberger Berman Group LLC lowered its position in shares of Box, Inc. (NYSE:BOX - Free Report) by 26.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 691,667 shares of the software maker's stock after selling 249,860 shares during the period. Neuberger Berman Group LLC owned approximately 0.48% of BOX worth $21,326,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. TCTC Holdings LLC increased its stake in BOX by 115.4% during the first quarter. TCTC Holdings LLC now owns 825 shares of the software maker's stock valued at $25,000 after purchasing an additional 442 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted 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 valued at $27,000 after buying an additional 665 shares during the period. MorganRosel Wealth Management LLC acquired a new position in shares of BOX during the first quarter worth approximately $31,000. Versant Capital Management Inc raised its position 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. Finally, Covestor Ltd boosted its position in shares of BOX by 29.9% during the first quarter. Covestor Ltd now owns 2,142 shares of the software maker's stock valued at $66,000 after buying an additional 493 shares during the last quarter. Hedge funds and other institutional investors own 86.74% of the company's stock.

Insiders Place Their Bets

In related news, Director Bethany Mayer sold 5,123 shares of the firm's stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $34.06, for a total transaction of $174,489.38. Following the sale, the director owned 15,284 shares in the company, valued at approximately $520,573.04. This trade represents a 25.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Aaron Levie sold 15,000 shares of BOX stock in a transaction on 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 owned 2,952,030 shares in the company, valued at approximately $98,450,200.50. This trade represents a 0.51% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 94,504 shares of company stock valued at $3,363,371. 3.90% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have weighed in on the company. UBS Group raised BOX from a "buy" rating to a "strong-buy" rating and boosted their price objective for the stock from $37.00 to $40.00 in a research report on Wednesday, May 28th. Wall Street Zen lowered BOX from a "buy" rating to a "hold" rating in a research report on Sunday, June 29th. JPMorgan Chase & Co. increased their target price on BOX from $37.00 to $39.00 and gave the stock an "overweight" rating 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 stock an "underperform" rating in a report on Wednesday, May 28th. Finally, Raymond James Financial reaffirmed an "outperform" rating and issued a $42.00 price objective (up previously from $38.00) on shares of BOX in a report on Wednesday, May 28th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, BOX presently has an average rating of "Moderate Buy" and an average target price of $38.50.

BOX Price Performance

BOX opened at $31.67 on Thursday. The firm has a market capitalization of $4.55 billion, a price-to-earnings ratio of 24.55 and a beta of 0.96. The company's 50 day simple moving average is $33.57 and its two-hundred day simple moving average is $32.66. Box, Inc. has a 1-year low of $27.46 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 EPS for the quarter, topping analysts' consensus estimates of $0.25 by $0.05. The firm had revenue of $276.27 million during the quarter, compared to the consensus estimate of $274.77 million. BOX had a net margin of 21.38% and a negative return on equity of 20.17%. The company's revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.39 earnings per share. On average, equities analysts anticipate that Box, Inc. will post 0.27 earnings per share for the current fiscal year.

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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