Box, Inc. $BOX Shares Sold by Mizuho Markets Americas LLC

Key Points

• Mizuho Markets Americas LLC cut its BOX stake by 10.5% in the fourth quarter, selling 67,945 shares and ending with 578,203 shares worth about $17.3 million.
• Insider selling has also been notable, including recent sales by COO Olivia Nottebohm and VP Eli Berkovitch; over the last three months, insiders sold 137,086 shares worth $3.35 million.
• Analysts remain mixed on BOX, with a consensus Hold rating and an average price target of $35.57, while the stock was trading at $25.90 and the company recently authorized a $500 million share repurchase program.

Mizuho Markets Americas LLC reduced its holdings in shares of Box, Inc. (NYSE:BOX - Free Report) by 10.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 578,203 shares of the software maker's stock after selling 67,945 shares during the quarter. Mizuho Markets Americas LLC owned approximately 0.40% of BOX worth $17,294,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in the company. Legato Capital Management LLC acquired a new stake in shares of BOX in the 4th quarter valued at about $443,000. Global Retirement Partners LLC raised its stake in shares of BOX by 624.3% during the 4th quarter. Global Retirement Partners LLC now owns 2,202 shares of the software maker's stock worth $66,000 after buying an additional 1,898 shares in the last quarter. IFP Advisors Inc raised its stake in shares of BOX by 11,074.8% during the 4th quarter. IFP Advisors Inc now owns 15,086 shares of the software maker's stock worth $451,000 after buying an additional 14,951 shares in the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in shares of BOX during the 4th quarter worth approximately $2,247,000. Finally, ProShare Advisors LLC increased its stake in BOX by 1.7% in the 4th quarter. ProShare Advisors LLC now owns 27,634 shares of the software maker's stock valued at $827,000 after purchasing an additional 449 shares in the last quarter. 86.74% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at BOX

In other news, COO Olivia Nottebohm sold 12,470 shares of the stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $25.17, for a total transaction of $313,869.90. Following the sale, the chief operating officer directly owned 558,739 shares in the company, valued at approximately $14,063,460.63. This represents a 2.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Eli Berkovitch sold 24,500 shares of the stock in a transaction that occurred on Wednesday, April 8th. The stock was sold at an average price of $23.85, for a total value of $584,325.00. Following the sale, the vice president owned 95,516 shares in the company, valued at $2,278,056.60. The trade was a 20.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 137,086 shares of company stock worth $3,345,852. Corporate insiders own 3.90% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on BOX shares. Citigroup dropped their price target on BOX from $40.00 to $36.00 and set a "buy" rating for the company in a research report on Wednesday, March 4th. William Blair reaffirmed a "market perform" rating on shares of BOX in a research report on Monday, March 23rd. Morgan Stanley lowered their price objective on BOX from $38.00 to $33.00 and set an "equal weight" rating for the company in a research report on Thursday, March 12th. Weiss Ratings downgraded BOX from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Monday, May 11th. Finally, Wall Street Zen cut BOX from a "strong-buy" rating to a "buy" rating in a research note on Saturday, May 9th. Four investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, BOX presently has an average rating of "Hold" and a consensus target price of $35.57.

BOX Stock Performance

NYSE:BOX opened at $25.90 on Friday. The stock has a market cap of $3.59 billion, a price-to-earnings ratio of 43.89, a price-to-earnings-growth ratio of 1.30 and a beta of 0.71. Box, Inc. has a one year low of $21.34 and a one year high of $38.80. The business's 50-day simple moving average is $24.17 and its 200 day simple moving average is $26.57.

BOX (NYSE:BOX - Get Free Report) last announced its quarterly earnings data on Tuesday, March 3rd. The software maker reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.16. The firm had revenue of $305.88 million during the quarter, compared to analyst estimates of $305.64 million. BOX had a negative return on equity of 23.61% and a net margin of 9.80%.BOX's quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.42 earnings per share. On average, equities research analysts predict that Box, Inc. will post 0.34 EPS for the current year.

BOX declared that its Board of Directors has initiated a share repurchase program on Thursday, March 19th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the software maker to repurchase up to 14.2% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

About BOX

Box, Inc is a leading provider of cloud content management and file sharing solutions designed to support enterprises in securely managing, accessing and collaborating on digital content from anywhere. The company offers a unified platform that enables organizations to store, share and automate workflows across various departments, enhancing productivity and ensuring governance over sensitive information. Box's services are tailored to meet the needs of industries such as healthcare, financial services, government and media, where compliance and data security are paramount.

The core offerings of Box include its Content Cloud platform, which provides content collaboration, workflow automation, data classification and secure file sharing.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.