Fifth Third Bancorp Reduces Position in Box, Inc. (NYSE:BOX)

Fifth Third Bancorp decreased its position in Box, Inc. (NYSE:BOX) by 29.6% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 58,516 shares of the software maker’s stock after selling 24,547 shares during the period. Fifth Third Bancorp’s holdings in BOX were worth $1,849,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in BOX. State Street Corp grew its holdings in BOX by 1.2% in the 3rd quarter. State Street Corp now owns 5,623,032 shares of the software maker’s stock worth $184,042,000 after acquiring an additional 69,107 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of BOX by 0.4% in the third quarter. Geode Capital Management LLC now owns 3,249,823 shares of the software maker’s stock worth $106,387,000 after purchasing an additional 13,028 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in BOX by 1.9% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,425,176 shares of the software maker’s stock valued at $79,376,000 after purchasing an additional 44,190 shares during the period. Congress Asset Management Co. bought a new position in BOX during the 3rd quarter valued at approximately $46,236,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in BOX by 10.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,371,815 shares of the software maker’s stock worth $44,900,000 after buying an additional 134,175 shares during the period. 86.74% of the stock is owned by hedge funds and other institutional investors.

BOX Stock Performance

BOX stock opened at $33.58 on Wednesday. The firm has a 50 day moving average price of $32.42 and a 200-day moving average price of $31.44. Box, Inc. has a 52-week low of $24.56 and a 52-week high of $35.74. The firm has a market capitalization of $4.83 billion, a price-to-earnings ratio of 41.97, a PEG ratio of 5.70 and a beta of 0.89.

Insider Buying and Selling at BOX

In other BOX news, CEO Aaron Levie sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $32.54, for a total transaction of $325,400.00. Following the completion of the sale, the chief executive officer now directly owns 2,999,155 shares in the company, valued at approximately $97,592,503.70. This trade represents a 0.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Olivia Nottebohm sold 6,079 shares of BOX stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $31.91, for a total transaction of $193,980.89. Following the completion of the transaction, the chief operating officer now directly owns 447,067 shares of the company’s stock, valued at $14,265,907.97. This trade represents a 1.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 85,462 shares of company stock worth $2,765,964. 4.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Bank of America initiated coverage on BOX in a research note on Thursday, December 12th. They set a “buy” rating and a $40.00 target price on the stock. Royal Bank of Canada reissued an “underperform” rating and set a $21.00 price objective on shares of BOX in a research report on Wednesday, December 4th. DA Davidson assumed coverage on shares of BOX in a research report on Wednesday, December 18th. They issued a “buy” rating and a $45.00 target price for the company. Morgan Stanley boosted their price target on shares of BOX from $33.00 to $36.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 4th. Finally, Citigroup raised their price objective on shares of BOX from $34.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, BOX presently has an average rating of “Moderate Buy” and a consensus price target of $35.89.

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.