Nordea Investment Management AB Decreases Stock Position in Box, Inc. $BOX

Key Points

• Nordea Investment Management AB trimmed its stake in Box by 12.2% in Q4, selling 45,441 shares and finishing the quarter with 326,859 shares (about 0.23% of BOX), valued near $9.8 million.
• Box's board authorized a $500 million stock buyback (up to 14.2% of shares) and the company posted a beat with $0.49 EPS (vs. $0.33 est.) and revenue up 9.4% year-over-year for the quarter.
• Insiders have been net sellers recently: CFO Dylan C. Smith sold 17,000 shares and COO Olivia Nottebohm sold 4,612 shares, with insiders selling 79,836 shares (~$2.09 million) in the last quarter; corporate insiders now own 3.9% of the company.

Nordea Investment Management AB trimmed its stake in shares of Box, Inc. (NYSE:BOX - Free Report) by 12.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 326,859 shares of the software maker's stock after selling 45,441 shares during the quarter. Nordea Investment Management AB owned 0.23% of BOX worth $9,801,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Geneos Wealth Management Inc. acquired a new stake in BOX in the 1st quarter valued at about $31,000. Salomon & Ludwin LLC acquired a new position in shares of BOX during the third quarter worth about $32,000. Employees Retirement System of Texas purchased a new stake in shares of BOX during the third quarter worth approximately $35,000. CIBC Private Wealth Group LLC raised its holdings in BOX by 1,778.1% in the third quarter. CIBC Private Wealth Group LLC now owns 1,202 shares of the software maker's stock valued at $39,000 after acquiring an additional 1,138 shares in the last quarter. Finally, Covestor Ltd raised its holdings in BOX by 112.8% in the third quarter. Covestor Ltd now owns 1,326 shares of the software maker's stock valued at $42,000 after acquiring an additional 703 shares in the last quarter. Hedge funds and other institutional investors own 86.74% of the company's stock.

Insider Activity

In related news, CFO Dylan C. Smith sold 17,000 shares of the business's stock in a transaction on Friday, January 9th. The shares were sold at an average price of $29.57, for a total value of $502,690.00. Following the completion of the sale, the chief financial officer directly owned 1,328,195 shares of the company's stock, valued at $39,274,726.15. The trade was a 1.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Olivia Nottebohm sold 4,612 shares of the business's stock in a transaction on Friday, March 6th. The shares were sold at an average price of $25.78, for a total transaction of $118,897.36. Following the completion of the sale, the chief operating officer directly owned 465,219 shares of the company's stock, valued at approximately $11,993,345.82. This trade represents a 0.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 79,836 shares of company stock worth $2,091,096. Corporate insiders own 3.90% of the company's stock.

BOX Stock Up 0.2%

BOX stock opened at $23.66 on Thursday. The business has a 50 day moving average price of $24.58 and a 200 day moving average price of $28.95. The stock has a market cap of $3.28 billion, a price-to-earnings ratio of 40.09, a PEG ratio of 1.21 and a beta of 0.80. Box, Inc. has a fifty-two week low of $21.61 and a fifty-two week high of $38.80.

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

BOX announced that its board has authorized a stock buyback plan on Thursday, March 19th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the software maker to repurchase up to 14.2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board believes its shares are undervalued.

Analyst Upgrades and Downgrades

BOX has been the subject of a number of recent research reports. Wall Street Zen upgraded shares of BOX from a "hold" rating to a "strong-buy" rating in a research note on Saturday, March 14th. William Blair reissued a "market perform" rating on shares of BOX in a research report on Monday. Citigroup reduced their price objective on shares of BOX from $40.00 to $36.00 and set a "buy" rating on the stock in a report on Wednesday, March 4th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of BOX in a research report on Monday, December 29th. Finally, Morgan Stanley lowered their target price on shares of BOX from $38.00 to $33.00 and set an "equal weight" rating for the company in a research note on Thursday, March 12th. Four research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $35.57.

BOX 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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