Vanguard Group cuts its stake in Box Inc by 1.4%

Vanguard Group Inc. cut its holdings in shares of Box Inc (NYSE:BOX) by 1.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC).

The institutional investor owned 15,780,227 shares of the software maker’s stock after selling 216,969 shares during the period. Vanguard Group Inc. owned approximately 0.10% of BOX worth $327,597,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Silvercrest Asset Management Group LLC bought a new stake in shares of BOX during the second quarter worth about $5,578,000.

Peloton Wealth Strategists increased its position in shares of BOX by 2.3% during the second quarter. Peloton Wealth Strategists now owns 201,850 shares of the software maker’s stock worth $4,190,000 after acquiring an additional 4,450 shares in the last quarter. Federated Hermes Inc. increased its position in shares of BOX by 42,771.9% during the second quarter. Federated Hermes Inc. now owns 384,561 shares of the software maker’s stock worth $7,984,000 after acquiring an additional 383,664 shares in the last quarter. Marshall Wace LLP bought a new stake in shares of BOX during the second quarter worth about $3,475,000. Finally, State of Tennessee Treasury Department grew its position in BOX by 5.5% in the 2nd quarter.

State of Tennessee Treasury Department now owns 16,305 shares of the software maker’s stock worth $338,000 after purchasing an additional 857 shares in the last quarter. 80.16% of the stock is owned by institutional investors.

A number of equities research analysts have issued reports on the stock. ValuEngine downgraded shares of BOX from a “buy” rating to a “hold” rating in a research report on Thursday, July 2nd. Craig Hallum upped their price objective on shares of BOX from $24.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, August 27th. Zacks Investment Research downgraded shares of BOX from a “buy” rating to a “hold” rating and set a $20.00 price objective for the company. in a research report on Thursday, July 23rd.

Wells Fargo & Company upped their price objective on shares of BOX from $20.00 to $25.00 and gave the stock an “overweight” rating in a research report on Thursday, May 28th. Finally, William Blair reaffirmed a “buy” rating on shares of BOX in a research report on Thursday, June 4th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company. BOX currently has an average rating of “Buy” and a consensus price target of $22.00.

In related news, Director Daniel J. Levin sold 65,912 shares of the stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $20.79, for a total transaction of $1,370,310.48. Following the transaction, the director now owns 11,106 shares of the company’s stock, valued at approximately $230,893.74. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Dylan C. Smith sold 30,000 shares of the stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $18.86, for a total transaction of $565,800.00. Following the transaction, the chief financial officer now directly owns 1,188,817 shares in the company, valued at approximately $22,421,088.62. The disclosure for this sale can be found here. Insiders sold a total of 305,912 shares of company stock worth $6,229,540 over the last quarter. Corporate insiders own 6.20% of the company’s stock.
BOX stock opened at $17.80 on Friday. Box Inc has a twelve month low of $8.64 and a twelve month high of $22.09. The firm has a 50 day moving average price of $18.17 and a 200-day moving average price of $17.28. The company has a market capitalization of $2.79 billion, a P/E ratio of -25.43 and a beta of 1.16. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 2.48.

BOX (NYSE:BOX) last released its earnings results on Wednesday, August 26th. The software maker reported $0.18 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.13) by $0.31. BOX had a negative net margin of 14.19% and a negative return on equity of 279.40%. The firm had revenue of $192.30 million during the quarter, compared to the consensus estimate of $189.62 million. BOX’s quarterly revenue was up 11.5% compared to the same quarter last year. Equities analysts expect that Box Inc will post -0.37 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 or any device. The company’s Software-as-a-Service platform enables users to collaborate on content internally and with external parties, automate content-driven business processes, develop custom applications, and implement data protection, security, and compliance features.

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