Box, Inc. $BOX Stake Reduced by Victory Capital Management Inc.

Victory Capital Management Inc. trimmed its holdings in Box, Inc. (NYSE:BOX) by 12.5% in the third quarter, Holdings Channel.com reports. The fund owned 486,295 shares of the software maker’s stock after selling 69,553 shares during the period. Victory Capital Management Inc.’s holdings in BOX were worth $15,693,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Geneos Wealth Management Inc. bought a new stake in shares of BOX in the 1st quarter worth approximately $31,000. Salomon & Ludwin LLC acquired a new position in BOX in the third quarter worth approximately $32,000. Covestor Ltd increased its holdings in shares of 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 buying an additional 703 shares in the last quarter. CWM LLC lifted its position in shares of BOX by 25.6% during the 3rd quarter. CWM LLC now owns 1,503 shares of the software maker’s stock valued at $49,000 after acquiring an additional 306 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of BOX by 1,995.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,263 shares of the software maker’s stock worth $77,000 after acquiring an additional 2,155 shares in the last quarter. Institutional investors and hedge funds own 86.74% of the company’s stock.

BOX Stock Down 2.5%

BOX opened at $24.81 on Wednesday. The firm has a market capitalization of $3.55 billion, a P/E ratio of 42.06, a PEG ratio of 1.33 and a beta of 0.80. The stock has a fifty day moving average of $25.64 and a 200-day moving average of $29.55. Box, Inc. has a 12-month low of $21.61 and a 12-month high of $38.80.

BOX (NYSE:BOX) last issued its quarterly 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 business had revenue of $305.88 million for the quarter, compared to the consensus estimate of $305.64 million. BOX had a negative return on equity of 23.61% and a net margin of 9.80%.BOX’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.42 earnings per share. On average, analysts expect that Box, Inc. will post 0.27 earnings per share for the current fiscal year.

Insider Buying and Selling at BOX

In related news, CFO Dylan C. Smith sold 17,000 shares of the business’s stock in a transaction that occurred on Friday, January 9th. The shares were sold at an average price of $29.57, for a total transaction of $502,690.00. Following the transaction, the chief financial officer directly owned 1,328,195 shares of the company’s stock, valued at approximately $39,274,726.15. The trade was a 1.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Eli Berkovitch sold 5,163 shares of the company’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $29.96, for a total transaction of $154,683.48. Following the completion of the transaction, the vice president owned 123,684 shares in the company, valued at approximately $3,705,572.64. This represents a 4.01% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 52,999 shares of company stock valued at $1,454,739 in the last 90 days. 3.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

BOX has been the topic of a number of recent analyst reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of BOX in a research report on Monday, December 29th. UBS Group dropped their price target on BOX from $31.00 to $28.00 and set a “hold” rating on the stock in a research note on Wednesday, March 4th. DA Davidson reaffirmed a “buy” rating and set a $45.00 price objective on shares of BOX in a research note on Wednesday, December 3rd. Finally, Citigroup decreased their target price 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. Five investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $36.29.

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.