Bank of New York Mellon Corp Purchases 104,228 Shares of Box, Inc. (NYSE:BOX)

Bank of New York Mellon Corp increased its position in shares of Box, Inc. (NYSE:BOX) by 7.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,603,725 shares of the software maker’s stock after purchasing an additional 104,228 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.11% of BOX worth $42,402,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Louisiana State Employees Retirement System boosted its stake in shares of BOX by 2.1% in the 2nd quarter. Louisiana State Employees Retirement System now owns 72,600 shares of the software maker’s stock worth $1,920,000 after buying an additional 1,500 shares during the last quarter. Fifth Third Bancorp boosted its position in BOX by 1.2% in the second quarter. Fifth Third Bancorp now owns 86,171 shares of the software maker’s stock worth $2,278,000 after purchasing an additional 1,052 shares during the last quarter. Neo Ivy Capital Management bought a new position in BOX in the 2nd quarter valued at $1,406,000. Nisa Investment Advisors LLC grew its stake in BOX by 31.7% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,627 shares of the software maker’s stock valued at $69,000 after purchasing an additional 632 shares during the period. Finally, Blue Trust Inc. increased its position in shares of BOX by 20.9% during the 2nd quarter. Blue Trust Inc. now owns 11,448 shares of the software maker’s stock valued at $324,000 after purchasing an additional 1,982 shares during the last quarter. 86.74% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Dylan C. Smith sold 13,000 shares of BOX stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $24.97, for a total transaction of $324,610.00. Following the completion of the sale, the chief financial officer now owns 1,526,661 shares in the company, valued at approximately $38,120,725.17. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CFO Dylan C. Smith sold 13,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $24.97, for a total value of $324,610.00. Following the sale, the chief financial officer now directly owns 1,526,661 shares of the company’s stock, valued at $38,120,725.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Eli Berkovitch sold 3,300 shares of BOX stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $25.90, for a total transaction of $85,470.00. Following the sale, the vice president now owns 152,372 shares of the company’s stock, valued at $3,946,434.80. The disclosure for this sale can be found here. Insiders have sold 66,560 shares of company stock worth $1,785,200 in the last ninety days. 4.10% of the stock is currently owned by insiders.

BOX Trading Down 1.0 %

Shares of NYSE:BOX opened at $32.60 on Monday. The company has a 50 day moving average of $27.34 and a 200 day moving average of $27.13. The stock has a market cap of $4.71 billion, a P/E ratio of 44.66 and a beta of 0.86. Box, Inc. has a 12 month low of $23.29 and a 12 month high of $33.36.

BOX (NYSE:BOX) last released its quarterly earnings results on Tuesday, August 27th. The software maker reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.04. BOX had a net margin of 13.94% and a negative return on equity of 14.41%. The firm had revenue of $270.04 million during the quarter, compared to analyst estimates of $269.52 million. During the same period in the previous year, the business earned $0.01 EPS. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, equities analysts forecast that Box, Inc. will post 0.2 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently weighed in on BOX. UBS Group boosted their price target on shares of BOX from $31.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Citigroup boosted their target price on shares of BOX from $32.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. Morgan Stanley decreased their price target on shares of BOX from $32.00 to $30.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 29th. Royal Bank of Canada reiterated an “underperform” rating and issued a $21.00 price objective on shares of BOX in a research note on Wednesday, August 28th. Finally, StockNews.com raised BOX from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $30.89.

BOX Company Profile

Box, Inc provides a cloud content management platform that enables organizations of various sizes to manage and share their content from anywhere on any device. The company's Software-as-a-Service platform enables users to work with their content as they need from secure external collaboration and sharing, workspaces and portals, e-signature processes, and content workflows improving employee productivity and accelerating business processes.