Fideuram Intesa Sanpaolo Private Banking S.P.A. Takes Position in Box, Inc. $BOX

Key Points

• Fideuram Intesa Sanpaolo Private Banking disclosed a new fourth-quarter position in Box, buying 75,132 shares valued at about $2.25 million, or roughly 0.05% of the company.
• Several other institutional investors also increased their stakes, and 86.74% of BOX shares are held by hedge funds and other institutions. Meanwhile, insiders have been selling shares, including the COO and a director.
• Box reported stronger-than-expected quarterly results, with EPS of $0.49 beating estimates and revenue rising 9.4% year over year; the company also authorized a $500 million share repurchase program.

Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in shares of Box, Inc. (NYSE:BOX - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 75,132 shares of the software maker's stock, valued at approximately $2,247,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. owned about 0.05% of BOX as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. CWM LLC boosted its holdings in BOX by 25.6% during the third quarter. CWM LLC now owns 1,503 shares of the software maker's stock worth $49,000 after purchasing an additional 306 shares during the last quarter. Linden Thomas Advisory Services LLC boosted its holdings in BOX by 1.4% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 27,285 shares of the software maker's stock worth $816,000 after purchasing an additional 387 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in BOX by 8.6% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 5,093 shares of the software maker's stock worth $147,000 after purchasing an additional 405 shares during the last quarter. ProShare Advisors LLC boosted its holdings in BOX by 1.7% during the fourth quarter. ProShare Advisors LLC now owns 27,634 shares of the software maker's stock worth $827,000 after purchasing an additional 449 shares during the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in BOX by 1.2% during the third quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 41,180 shares of the software maker's stock worth $1,329,000 after purchasing an additional 469 shares during the last quarter. 86.74% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other BOX news, COO Olivia Nottebohm sold 12,470 shares of BOX stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $25.17, for a total value of $313,869.90. Following the sale, the chief operating officer owned 558,739 shares of the company's stock, valued at approximately $14,063,460.63. The trade was a 2.18% 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, Director Dana L. Evan sold 17,034 shares of BOX stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $24.24, for a total transaction of $412,904.16. Following the completion of the sale, the director directly owned 113,525 shares in the company, valued at approximately $2,751,846. This represents a 13.05% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 137,086 shares of company stock valued at $3,345,852. Company insiders own 3.90% of the company's stock.

BOX Stock Performance

Shares of BOX stock opened at $25.71 on Thursday. The firm has a market cap of $3.56 billion, a price-to-earnings ratio of 43.58, a P/E/G ratio of 1.32 and a beta of 0.71. Box, Inc. has a 52 week low of $21.34 and a 52 week high of $38.80. The firm's 50-day simple moving average is $24.14 and its two-hundred day simple moving average is $26.62.

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

BOX announced that its board has initiated a stock repurchase plan on Thursday, March 19th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the software maker to buy up to 14.2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on BOX. Morgan Stanley cut their price target on shares of BOX from $38.00 to $33.00 and set an "equal weight" rating on the stock in a report on Thursday, March 12th. Wall Street Zen cut shares of BOX from a "strong-buy" rating to a "buy" rating in a report on Saturday, May 9th. UBS Group cut their price target on shares of BOX from $31.00 to $28.00 and set a "hold" rating on the stock in a report on Wednesday, March 4th. Weiss Ratings cut shares of BOX from a "hold (c-)" rating to a "sell (d+)" rating in a report on Monday, May 11th. Finally, William Blair restated a "market perform" rating on shares of BOX in a report on Monday, March 23rd. Four equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, BOX presently has an average rating of "Hold" and a consensus target price of $35.57.

BOX Company Profile

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.

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