Massachusetts Financial Services Co. MA Purchases 194,210 Shares of Box, Inc. $BOX

Key Points

• Massachusetts Financial Services Co. MA increased its stake in Box by 31.8%, purchasing 194,210 shares to hold 805,447 shares (about 0.56% of BOX) valued at roughly $24.09 million.
• Box beat Q4 EPS estimates ($0.49 vs. $0.33) with revenue of $305.9 million (up 9.4% YoY), and its board authorized a $500 million share repurchase program—about 14.2% of outstanding shares.
• Company insiders have been net sellers recently, disposing of 116,566 shares worth about $2.83 million in the last 90 days, though insiders still own roughly 3.9% of the stock.

Massachusetts Financial Services Co. MA raised its stake in shares of Box, Inc. (NYSE:BOX - Free Report) by 31.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 805,447 shares of the software maker's stock after buying an additional 194,210 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.56% of BOX worth $24,091,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in BOX by 2.8% during the 3rd quarter. Vanguard Group Inc. now owns 18,487,018 shares of the software maker's stock valued at $596,576,000 after buying an additional 497,658 shares in the last quarter. Sei Investments Co. grew its holdings in BOX by 2.9% during the 3rd quarter. Sei Investments Co. now owns 3,316,783 shares of the software maker's stock valued at $107,033,000 after buying an additional 94,289 shares in the last quarter. Congress Asset Management Co. grew its holdings in BOX by 2.8% during the 3rd quarter. Congress Asset Management Co. now owns 1,939,714 shares of the software maker's stock valued at $62,595,000 after buying an additional 52,964 shares in the last quarter. Sunriver Management LLC grew its holdings in BOX by 31.0% during the 3rd quarter. Sunriver Management LLC now owns 1,517,828 shares of the software maker's stock valued at $48,980,000 after buying an additional 359,329 shares in the last quarter. Finally, First Trust Advisors LP grew its holdings in BOX by 6.2% during the 3rd quarter. First Trust Advisors LP now owns 1,273,546 shares of the software maker's stock valued at $41,097,000 after buying an additional 74,758 shares in the last quarter. 86.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on BOX shares. Wall Street Zen lowered shares of BOX from a "strong-buy" rating to a "buy" rating in a report on Saturday, March 28th. UBS Group cut their price objective on shares of BOX from $31.00 to $28.00 and set a "hold" rating for the company in a report on Wednesday, March 4th. William Blair reaffirmed a "market perform" rating on shares of BOX in a report on Monday, March 23rd. Citigroup cut their price objective on shares of BOX from $40.00 to $36.00 and set a "buy" rating for the company in a report on Wednesday, March 4th. Finally, Morgan Stanley cut their price objective on shares of BOX from $38.00 to $33.00 and set an "equal weight" rating for the company in a report on Thursday, March 12th. Four investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $35.57.

Insider Transactions at BOX

In related news, CEO Aaron Levie sold 15,000 shares of the firm's stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $24.72, for a total value of $370,800.00. Following the completion of the transaction, the chief executive officer directly owned 2,907,030 shares of the company's stock, valued at approximately $71,861,781.60. This trade represents a 0.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Dylan C. Smith sold 17,000 shares of the firm's stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $24.75, for a total transaction of $420,750.00. Following the completion of the transaction, the chief financial officer directly owned 1,311,195 shares of the company's stock, valued at approximately $32,452,076.25. This trade represents a 1.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 116,566 shares of company stock valued at $2,832,227 in the last 90 days. Company insiders own 3.90% of the company's stock.

BOX Stock Performance

BOX stock opened at $23.83 on Thursday. The firm has a fifty day moving average price of $23.79 and a 200 day moving average price of $27.98. Box, Inc. has a fifty-two week low of $21.34 and a fifty-two week high of $38.80. The firm has a market cap of $3.30 billion, a PE ratio of 40.38, a price-to-earnings-growth ratio of 1.15 and a beta of 0.71.

BOX (NYSE:BOX - Get Free Report) last posted its earnings results on Tuesday, March 3rd. The software maker reported $0.49 earnings per share for the quarter, beating analysts' consensus estimates of $0.33 by $0.16. BOX had a net margin of 9.80% and a negative return on equity of 23.61%. The firm had revenue of $305.88 million during the quarter, compared to analyst estimates of $305.64 million. During the same period last year, the firm posted $0.42 earnings per share. BOX's revenue for the quarter was up 9.4% compared to the same quarter last year. On average, equities analysts predict that Box, Inc. will post 0.27 EPS for the current year.

BOX announced that its Board of Directors has initiated a share repurchase program on Thursday, March 19th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the software maker to repurchase up to 14.2% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's leadership believes its shares are 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.

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