Bank of New York Mellon Corp Boosts Stock Position in Box, Inc. (NYSE:BOX)

Bank of New York Mellon Corp increased its holdings in Box, Inc. (NYSE:BOX) by 7.0% during the 2nd quarter, according to 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 period. Bank of New York Mellon Corp’s holdings in BOX were worth $42,402,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of BOX. Nisa Investment Advisors LLC increased its holdings in shares of BOX by 31.7% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,627 shares of the software maker’s stock worth $69,000 after buying an additional 632 shares during the last quarter. Renaissance Group LLC boosted its stake in BOX by 1.0% during the fourth quarter. Renaissance Group LLC now owns 70,731 shares of the software maker’s stock worth $1,812,000 after buying an additional 671 shares during the period. Diversified Trust Co increased its position in BOX by 2.9% during the second quarter. Diversified Trust Co now owns 26,980 shares of the software maker’s stock valued at $713,000 after acquiring an additional 768 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of BOX by 14.4% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,207 shares of the software maker’s stock valued at $154,000 after acquiring an additional 782 shares during the period. Finally, Covestor Ltd boosted its stake in shares of BOX by 27.3% during the 1st quarter. Covestor Ltd now owns 4,312 shares of the software maker’s stock worth $122,000 after purchasing an additional 924 shares during the period. Hedge funds and other institutional investors own 86.74% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Morgan Stanley decreased their price objective 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 reaffirmed an “underperform” rating and issued a $21.00 price objective on shares of BOX in a research report on Wednesday, August 28th. UBS Group lifted their target price on BOX from $31.00 to $34.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Citigroup upped their price objective on BOX from $32.00 to $34.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. Finally, StockNews.com upgraded shares of BOX from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $30.89.

Insider Activity at BOX

In other BOX news, Director Jack R. Lazar sold 7,000 shares of BOX stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $32.68, for a total transaction of $228,760.00. Following the completion of the sale, the director now owns 29,197 shares of the company’s stock, valued at approximately $954,157.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other BOX news, Director Jack R. Lazar sold 7,000 shares of BOX stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $32.68, for a total transaction of $228,760.00. Following the completion of the sale, the director now directly owns 29,197 shares in the company, valued at approximately $954,157.96. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Aaron Levie sold 10,000 shares of the company’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $26.26, for a total transaction of $262,600.00. Following the completion of the sale, the chief executive officer now directly owns 3,019,155 shares in the company, valued at $79,283,010.30. The disclosure for this sale can be found here. Insiders have sold a total of 66,560 shares of company stock valued at $1,785,200 in the last ninety days. Company insiders own 4.10% of the company’s stock.

BOX Stock Performance

BOX stock opened at $32.60 on Monday. The stock has a market cap of $4.71 billion, a PE ratio of 44.66 and a beta of 0.86. The stock has a 50-day moving average of $27.34 and a two-hundred day moving average of $27.13. Box, Inc. has a one year low of $23.29 and a one year high of $33.36.

BOX (NYSE:BOX) last issued its quarterly earnings results on Tuesday, August 27th. The software maker reported $0.44 earnings per share (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 business had revenue of $270.04 million for the quarter, compared to analyst estimates of $269.52 million. During the same quarter in the prior year, the business posted $0.01 EPS. BOX’s revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, sell-side analysts predict that Box, Inc. will post 0.2 EPS for the current fiscal year.

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.