Box, Inc. $BOX is Sunriver Management LLC’s 5th Largest Position

Sunriver Management LLC boosted its stake in Box, Inc. (NYSE:BOX) by 31.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,517,828 shares of the software maker’s stock after acquiring an additional 359,329 shares during the period. BOX accounts for about 5.3% of Sunriver Management LLC’s holdings, making the stock its 5th biggest position. Sunriver Management LLC owned about 1.05% of BOX worth $48,980,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in shares of BOX by 2.8% during the 3rd quarter. Vanguard Group Inc. now owns 18,487,018 shares of the software maker’s stock worth $596,576,000 after purchasing an additional 497,658 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in BOX by 10.7% during the second quarter. Arrowstreet Capital Limited Partnership now owns 4,247,092 shares of the software maker’s stock valued at $145,123,000 after purchasing an additional 410,191 shares during the period. Geode Capital Management LLC grew its holdings in BOX by 1.0% during the second quarter. Geode Capital Management LLC now owns 3,346,923 shares of the software maker’s stock valued at $114,379,000 after purchasing an additional 32,884 shares during the period. Sei Investments Co. increased its position in BOX by 2.9% in the third quarter. Sei Investments Co. now owns 3,316,783 shares of the software maker’s stock worth $107,033,000 after buying an additional 94,289 shares during the last quarter. Finally, Congress Asset Management Co. raised its stake in shares of BOX by 2.8% in the third 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 during the period. 86.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. DA Davidson reiterated a “buy” rating and set a $45.00 price target on shares of BOX in a research note on Wednesday, December 3rd. Citigroup dropped their price objective on BOX from $40.00 to $36.00 and set a “buy” rating on the stock in a report on Wednesday, March 4th. Morgan Stanley cut 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. Weiss Ratings reiterated a “hold (c+)” rating on shares of BOX in a research report on Monday, December 29th. Finally, UBS Group cut their price objective on BOX from $31.00 to $28.00 and set a “hold” rating for the company in a report on Wednesday, March 4th. Four research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $35.57.

Insider Transactions at BOX

In other BOX news, COO Olivia Nottebohm sold 4,612 shares of the stock in a transaction on Friday, March 6th. The stock was sold at an average price of $25.78, for a total value of $118,897.36. Following the completion of the transaction, the chief operating officer owned 465,219 shares in the company, valued at approximately $11,993,345.82. This represents a 0.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Aaron Levie sold 15,000 shares of the stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $24.72, for a total transaction of $370,800.00. Following the completion of the transaction, the chief executive officer owned 2,907,030 shares of the company’s stock, valued at approximately $71,861,781.60. The trade was a 0.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 84,999 shares of company stock valued at $2,245,779 in the last three months. Company insiders own 3.90% of the company’s stock.

BOX Stock Up 2.2%

Shares of NYSE:BOX traded up $0.54 during midday trading on Friday, hitting $25.24. 94,301 shares of the stock traded hands, compared to its average volume of 2,766,159. Box, Inc. has a one year low of $21.61 and a one year high of $38.80. The business’s 50 day moving average is $25.42 and its two-hundred day moving average is $29.48. The stock has a market capitalization of $3.62 billion, a PE ratio of 42.79, a P/E/G ratio of 1.21 and a beta of 0.80.

BOX (NYSE:BOX) last issued its quarterly earnings data on Tuesday, March 3rd. The software maker reported $0.49 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $305.64 million. During the same period last year, the company earned $0.42 EPS. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Box, Inc. will post 0.27 earnings per share for the current year.

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.