Bank of New York Mellon Corp Sells 24,635 Shares of Box, Inc. (NYSE:BOX)

Bank of New York Mellon Corp decreased its holdings in Box, Inc. (NYSE:BOX) by 1.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,279,414 shares of the software maker’s stock after selling 24,635 shares during the period. Bank of New York Mellon Corp owned about 0.89% of BOX worth $39,483,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of BOX. Farther Finance Advisors LLC boosted its holdings in BOX by 19.3% in the fourth quarter. Farther Finance Advisors LLC now owns 2,579 shares of the software maker’s stock valued at $81,000 after purchasing an additional 417 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its position in shares of BOX by 2.8% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 18,155 shares of the software maker’s stock worth $574,000 after purchasing an additional 486 shares during the last quarter. Portside Wealth Group LLC raised its position in shares of BOX by 6.1% during the 1st quarter. Portside Wealth Group LLC now owns 10,019 shares of the software maker’s stock worth $309,000 after purchasing an additional 578 shares during the last quarter. TD Waterhouse Canada Inc. grew its stake in BOX by 42.4% during the 4th quarter. TD Waterhouse Canada Inc. now owns 2,194 shares of the software maker’s stock valued at $69,000 after acquiring an additional 653 shares in the last quarter. Finally, Commonwealth Equity Services LLC grew its stake in BOX by 7.1% during the 4th quarter. Commonwealth Equity Services LLC now owns 9,887 shares of the software maker’s stock valued at $312,000 after acquiring an additional 659 shares in the last quarter. Institutional investors own 86.74% of the company’s stock.

BOX Stock Performance

Shares of BOX stock opened at $32.54 on Tuesday. Box, Inc. has a 1 year low of $25.96 and a 1 year high of $38.80. The company has a market capitalization of $4.68 billion, a P/E ratio of 25.23 and a beta of 0.90. The company’s fifty day moving average is $34.00 and its two-hundred day moving average is $32.55.

BOX (NYSE:BOX) last issued its earnings results on Tuesday, May 27th. The software maker reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.05. The business had revenue of $276.27 million for 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 business’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.39 earnings per share. As a group, equities analysts expect that Box, Inc. will post 0.27 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. UBS Group raised shares of BOX from a “buy” rating to a “strong-buy” rating and increased their price objective for the stock from $37.00 to $40.00 in a research report on Wednesday, May 28th. JPMorgan Chase & Co. increased their price objective on shares of BOX from $37.00 to $39.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 28th. Raymond James Financial reaffirmed an “outperform” rating and set a $42.00 price objective (up previously from $38.00) on shares of BOX in a research report on Wednesday, May 28th. Royal Bank Of Canada increased their price objective on shares of BOX from $21.00 to $24.00 and gave the stock an “underperform” rating in a research report on Wednesday, May 28th. Finally, Morgan Stanley reaffirmed a “positive” rating on shares of BOX in a research report on Wednesday, May 28th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, BOX currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.50.

Insider Transactions at BOX

In other BOX news, CEO Aaron Levie sold 15,000 shares of BOX stock in a transaction dated 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. The trade was a 0.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Eli Berkovitch sold 3,000 shares of BOX stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $33.34, for a total transaction of $100,020.00. Following the transaction, the vice president owned 133,867 shares of the company’s stock, valued at approximately $4,463,125.78. The trade was a 2.19% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 109,017 shares of company stock valued at $3,813,741. 3.90% of the stock is owned by company insiders.

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.