Vanguard Group Inc. Lowers Stock Holdings in Box, Inc. $BOX

Vanguard Group Inc. lowered its holdings in Box, Inc. (NYSE:BOX) by 0.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 18,458,285 shares of the software maker’s stock after selling 28,733 shares during the period. Vanguard Group Inc. owned 0.13% of BOX worth $552,087,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in BOX. Qube Research & Technologies Ltd grew its position in shares of BOX by 240.6% in the second quarter. Qube Research & Technologies Ltd now owns 1,210,237 shares of the software maker’s stock valued at $41,354,000 after purchasing an additional 854,953 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in shares of BOX in the second quarter valued at $22,626,000. Mizuho Markets Americas LLC purchased a new stake in shares of BOX in the third quarter valued at $20,851,000. Invesco Ltd. grew its position in shares of BOX by 101.1% in the second quarter. Invesco Ltd. now owns 1,141,603 shares of the software maker’s stock valued at $39,009,000 after purchasing an additional 573,817 shares during the period. Finally, American Century Companies Inc. grew its position in shares of BOX by 827.5% in the third quarter. American Century Companies Inc. now owns 460,206 shares of the software maker’s stock valued at $14,851,000 after purchasing an additional 410,588 shares during the period. Hedge funds and other institutional investors own 86.74% of the company’s stock.

Wall Street Analyst Weigh In

BOX has been the subject of a number of recent analyst reports. DA Davidson reaffirmed a “buy” rating and issued a $45.00 price objective on shares of BOX in a research report on Friday, March 20th. Wall Street Zen upgraded BOX from a “buy” rating to a “strong-buy” rating in a report on Saturday, April 25th. Citigroup reduced their target price on BOX from $40.00 to $36.00 and set a “buy” rating on the stock in a report on Wednesday, March 4th. William Blair reiterated a “market perform” rating on shares of BOX in a report on Monday, March 23rd. Finally, Morgan Stanley reduced their target price on BOX from $38.00 to $33.00 and set an “equal weight” rating on the stock in a report on Thursday, March 12th. Four investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $35.57.

Insider Activity at BOX

In other BOX news, CFO Dylan C. Smith sold 17,000 shares of the business’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $24.75, for a total transaction of $420,750.00. Following the transaction, the chief financial officer owned 1,311,195 shares in the company, valued at $32,452,076.25. The trade was a 1.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Olivia Nottebohm sold 6,528 shares of the business’s stock in a transaction dated Tuesday, April 7th. The stock was sold at an average price of $24.07, for a total value of $157,128.96. Following the transaction, the chief operating officer owned 487,488 shares in the company, valued at approximately $11,733,836.16. This represents a 1.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 117,896 shares of company stock valued at $2,860,681 over the last 90 days. Corporate insiders own 3.90% of the company’s stock.

BOX Trading Up 0.8%

Shares of BOX stock opened at $25.21 on Tuesday. Box, Inc. has a twelve month low of $21.34 and a twelve month high of $38.80. The stock has a market capitalization of $3.49 billion, a P/E ratio of 42.72, a PEG ratio of 1.28 and a beta of 0.71. The business’s fifty day moving average price is $23.93 and its 200 day moving average price is $27.29.

BOX (NYSE:BOX) last issued 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. The firm had revenue of $305.88 million for the quarter, compared to analysts’ expectations of $305.64 million. BOX had a negative return on equity of 23.61% and a net margin of 9.80%.The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.42 earnings per share. As a group, sell-side analysts predict that Box, Inc. will post 0.34 EPS for the current year.

BOX declared that its Board of Directors has approved a share buyback program on Thursday, March 19th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the software maker to buy up to 14.2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

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.