Profit Investment Management LLC decreased its holdings in shares of Box, Inc. (NYSE:BOX - Free Report) by 77.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,295 shares of the software maker's stock after selling 53,663 shares during the quarter. BOX comprises approximately 1.8% of Profit Investment Management LLC's holdings, making the stock its 23rd largest position. Profit Investment Management LLC's holdings in BOX were worth $457,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BOX. Woodline Partners LP lifted its holdings in shares of BOX by 16.4% during the first quarter. Woodline Partners LP now owns 17,800 shares of the software maker's stock worth $549,000 after buying an additional 2,506 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of BOX by 7.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 477,822 shares of the software maker's stock worth $14,746,000 after acquiring an additional 32,726 shares during the last quarter. Geneos Wealth Management Inc. bought a new position in BOX during the first quarter worth $31,000. Sivia Capital Partners LLC bought a new position in BOX during the second quarter worth $484,000. Finally, Police & Firemen s Retirement System of New Jersey raised its stake in BOX by 4.5% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 32,199 shares of the software maker's stock valued at $1,100,000 after purchasing an additional 1,376 shares during the last quarter. Institutional investors and hedge funds own 86.74% of the company's stock.
BOX Price Performance
Shares of BOX stock opened at $24.65 on Friday. The stock has a market cap of $3.53 billion, a P/E ratio of 41.77, a price-to-earnings-growth ratio of 1.26 and a beta of 0.80. Box, Inc. has a one year low of $21.61 and a one year high of $38.80. The stock has a fifty day moving average price of $24.85 and a 200 day moving average price of $29.14.
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 the consensus estimate 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 for the quarter, compared to analyst estimates of $305.64 million. During the same quarter in the previous year, the firm posted $0.42 EPS. The business's revenue for the quarter was up 9.4% on a year-over-year basis. Equities research analysts anticipate that Box, Inc. will post 0.27 EPS for the current year.
BOX declared that its board has approved a stock buyback program on Thursday, March 19th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the software maker to reacquire up to 14.2% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board of directors believes its shares are undervalued.
Wall Street Analyst Weigh In
A number of analysts have weighed in on BOX shares. Morgan Stanley reduced their price target 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. Wall Street Zen upgraded shares of BOX from a "hold" rating to a "strong-buy" rating in a report on Saturday, March 14th. UBS Group reduced their target price on shares of BOX from $31.00 to $28.00 and set a "hold" rating for the company in a research note on Wednesday, March 4th. Weiss Ratings reissued a "hold (c+)" rating on shares of BOX in a research report on Monday, December 29th. Finally, Citigroup lowered their price target on BOX from $40.00 to $36.00 and set a "buy" rating on the stock in a research note on Wednesday, March 4th. Four research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, BOX currently has a consensus rating of "Hold" and a consensus price target of $35.57.
Get Our Latest Research Report on BOX
Insider Activity
In related news, CFO Dylan C. Smith sold 17,000 shares of the company's stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $24.72, for a total value of $420,240.00. Following the sale, the chief financial officer owned 1,294,195 shares of the company's stock, valued at $31,992,500.40. The trade was a 1.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Olivia Nottebohm sold 4,612 shares of the stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $25.78, for a total transaction of $118,897.36. Following the completion of the transaction, the chief operating officer directly owned 465,219 shares of the company's stock, valued at $11,993,345.82. This trade represents a 0.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 79,836 shares of company stock worth $2,091,096. Corporate insiders own 3.90% of the company's stock.
About BOX
(
Free Report)
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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