US Bancorp DE Sells 24,505 Shares of Box, Inc. (NYSE:BOX)

Key Points

• US Bancorp DE reduced its stake in Box, Inc. by 33.8%, selling 24,505 shares in the first quarter, leaving it with 47,930 shares valued at approximately $1.48 million.
• Several hedge funds made significant changes to their positions in Box; for example, Natixis Advisors LLC increased their holdings by 15.2%, now owning 497,592 shares.
• Wall Street analysts have mixed opinions on BOX, with a consensus rating of "Moderate Buy" and an average price target of $38.50.

US Bancorp DE cut its holdings in Box, Inc. (NYSE:BOX - Free Report) by 33.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,930 shares of the software maker's stock after selling 24,505 shares during the quarter. US Bancorp DE's holdings in BOX were worth $1,479,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. TCTC Holdings LLC lifted its holdings in shares of 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 during the period. Thurston Springer Miller Herd & Titak Inc. raised its holdings in BOX by 332.5% in the 1st 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 period. MorganRosel Wealth Management LLC bought a new position in BOX in the 1st quarter worth $31,000. Versant Capital Management Inc raised its holdings in BOX by 519.4% in the 1st 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, TD Waterhouse Canada Inc. raised its holdings in BOX by 42.4% in the 4th 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 period. 86.74% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Wall Street Zen cut BOX from a "buy" rating to a "hold" rating in a report on Sunday, June 29th. DA Davidson set a $45.00 price target on BOX and gave the stock a "buy" rating in a research note on Wednesday, May 28th. Raymond James Financial reiterated an "outperform" rating and issued 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 increased their price target on BOX from $21.00 to $24.00 and gave the stock an "underperform" rating 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 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. According to data from MarketBeat.com, BOX presently has an average rating of "Moderate Buy" and a consensus price target of $38.50.

Insider Activity

In other news, Director Bethany Mayer sold 5,123 shares of BOX 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 completion of the sale, the director owned 15,284 shares of the company's stock, valued at approximately $520,573.04. The trade was a 25.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Aaron Levie sold 15,000 shares of BOX stock in a transaction that occurred 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 sale, the chief executive officer directly owned 2,952,030 shares of the company's stock, valued at $98,450,200.50. This represents a 0.51% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 94,504 shares of company stock valued at $3,363,371. Insiders own 3.90% of the company's stock.

BOX Stock Up 1.9%

BOX traded up $0.59 on Wednesday, hitting $31.65. The company had a trading volume of 457,886 shares, compared to its average volume of 1,895,844. The company has a market cap of $4.55 billion, a PE ratio of 24.54 and a beta of 0.96. Box, Inc. has a 12-month low of $27.46 and a 12-month high of $38.80. The business's fifty day simple moving average is $33.71 and its 200 day simple moving average is $32.67.

BOX (NYSE:BOX - Get Free Report) last issued its quarterly earnings results on Tuesday, May 27th. The software maker reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.05. BOX had a negative return on equity of 20.17% and a net margin of 21.38%. The firm had revenue of $276.27 million for the quarter, compared to the consensus estimate of $274.77 million. During the same period in the prior year, the business posted $0.39 earnings per share. The company's revenue for the quarter was up 4.4% on a year-over-year basis. On average, 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.