Northern Trust Corp Trims Position in Box, Inc. $BOX

Key Points

• Northern Trust Corp reduced its stake in Box, Inc. by 1.7%, now owning approximately 1.13% of the company, valued at $50.26 million.
• Multiple hedge funds increased their positions in Box during the first quarter, with TCTC Holdings LLC growing their stake by 115.4%.
• Box reported earnings of $0.33 per share, exceeding analyst expectations of $0.31, with revenue up 8.9% compared to the previous year.

Northern Trust Corp lessened its stake in shares of Box, Inc. (NYSE:BOX - Free Report) by 1.7% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,628,646 shares of the software maker's stock after selling 28,481 shares during the quarter. Northern Trust Corp owned about 1.13% of BOX worth $50,260,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. TCTC Holdings LLC grew its holdings in BOX by 115.4% during the 1st quarter. TCTC Holdings LLC now owns 825 shares of the software maker's stock valued at $25,000 after buying an additional 442 shares in the last quarter. 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 in the last quarter. MorganRosel Wealth Management LLC purchased a new position in shares of BOX during the first quarter worth about $31,000. Versant Capital Management Inc grew 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 in the last quarter. Finally, Covestor Ltd grew its holdings in shares of BOX by 29.9% during the first quarter. Covestor Ltd now owns 2,142 shares of the software maker's stock worth $66,000 after purchasing an additional 493 shares in the last quarter. Hedge funds and other institutional investors own 86.74% of the company's stock.

BOX Price Performance

NYSE:BOX opened at $32.48 on Thursday. The business has a 50 day moving average of $32.62 and a 200 day moving average of $32.52. The company has a market capitalization of $4.67 billion, a price-to-earnings ratio of 26.19 and a beta of 0.96. Box, Inc. has a 1-year low of $28.00 and a 1-year high of $38.80.

BOX (NYSE:BOX - Get Free Report) last released its earnings results on Tuesday, August 26th. The software maker reported $0.33 earnings per share for the quarter, topping analysts' consensus estimates of $0.31 by $0.02. BOX had a negative return on equity of 20.49% and a net margin of 20.30%.The company had revenue of $294.00 million during the quarter, compared to the consensus estimate of $290.19 million. During the same quarter in the previous year, the company posted $0.44 EPS. BOX's quarterly revenue was up 8.9% compared to the same quarter last year. BOX has set its FY 2026 guidance at 1.260-1.28 EPS. Q3 2026 guidance at 0.310-0.32 EPS. As a group, sell-side analysts anticipate that Box, Inc. will post 0.27 EPS for the current year.

Insider Transactions at BOX

In other BOX news, Director Bethany Mayer sold 5,123 shares of the business's stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $34.06, for a total value of $174,489.38. Following the completion of the sale, the director owned 15,284 shares in the company, valued at approximately $520,573.04. The trade was a 25.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Eli Berkovitch sold 3,000 shares of the business's stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $33.34, for a total value of $100,020.00. Following the completion of the sale, the vice president owned 133,867 shares of the company's stock, valued at $4,463,125.78. The trade was a 2.19% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 57,005 shares of company stock valued at $1,985,658. Insiders own 3.90% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently commented on BOX shares. Royal Bank Of Canada boosted their price objective on BOX from $24.00 to $26.00 and gave the stock an "underperform" rating in a report on Wednesday. DA Davidson set a $45.00 price objective on BOX and gave the stock a "buy" 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. Citigroup boosted their price objective on BOX from $39.00 to $40.00 and gave the stock a "buy" rating in a report on Wednesday. Finally, Raymond James Financial reissued an "outperform" rating and set a $42.00 price objective on shares of BOX in a report on Wednesday. Eight analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $39.00.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.