Box, Inc. $BOX Shares Sold by Profit Investment Management LLC

Profit Investment Management LLC lowered its stake in shares of Box, Inc. (NYSE:BOX) by 32.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 68,958 shares of the software maker’s stock after selling 32,908 shares during the quarter. BOX comprises 2.8% of Profit Investment Management LLC’s portfolio, making the stock its 8th largest holding. Profit Investment Management LLC’s holdings in BOX were worth $2,225,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in BOX. Congress Asset Management Co. grew its holdings in BOX by 2.8% in the 3rd 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 last quarter. Central Pacific Bank Trust Division raised its stake in BOX by 39.6% during the 3rd quarter. Central Pacific Bank Trust Division now owns 5,680 shares of the software maker’s stock valued at $183,000 after purchasing an additional 1,610 shares during the last quarter. GAMMA Investing LLC boosted its holdings in BOX by 21.6% in the 3rd quarter. GAMMA Investing LLC now owns 6,030 shares of the software maker’s stock valued at $195,000 after purchasing an additional 1,073 shares during the period. Thrivent Financial for Lutherans grew its position in BOX by 0.9% during the second quarter. Thrivent Financial for Lutherans now owns 106,482 shares of the software maker’s stock worth $3,638,000 after buying an additional 929 shares in the last quarter. Finally, Neuberger Berman Group LLC grew its holdings in shares of BOX by 38.1% during the 2nd quarter. Neuberger Berman Group LLC now owns 955,286 shares of the software maker’s stock worth $32,637,000 after purchasing an additional 263,619 shares in the last quarter. 86.74% of the stock is owned by institutional investors and hedge funds.

BOX Stock Performance

Shares of NYSE BOX opened at $30.42 on Monday. The stock has a market cap of $4.36 billion, a P/E ratio of 24.53, a P/E/G ratio of 2.42 and a beta of 0.79. The firm has a 50 day moving average price of $31.30 and a 200 day moving average price of $32.41. Box, Inc. has a 52-week low of $28.00 and a 52-week high of $38.80.

Insider Buying and Selling

In related news, COO Olivia Nottebohm sold 4,612 shares of the stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $31.35, for a total transaction of $144,586.20. Following the completion of the sale, the chief operating officer directly owned 497,639 shares of the company’s stock, valued at approximately $15,600,982.65. This represents a 0.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Dylan C. Smith sold 17,000 shares of the firm’s stock in a transaction on Friday, October 10th. The stock was sold at an average price of $33.05, for a total transaction of $561,850.00. Following the sale, the chief financial officer owned 1,454,013 shares in the company, valued at approximately $48,055,129.65. The trade was a 1.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 95,999 shares of company stock worth $3,039,068 over the last ninety days. Insiders own 3.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Citigroup upped their target price on shares of BOX from $39.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, August 27th. Zacks Research lowered shares of BOX from a “strong-buy” rating to a “hold” rating in a report on Friday, September 26th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of BOX in a report on Tuesday, December 16th. Royal Bank Of Canada boosted their price objective on shares of BOX from $24.00 to $26.00 and gave the stock an “underperform” rating in a research report on Wednesday, August 27th. Finally, Raymond James Financial restated an “outperform” rating and set a $42.00 target price on shares of BOX in a research report on Wednesday, August 27th. Five equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, BOX currently has an average rating of “Hold” and a consensus target price of $38.00.

About BOX

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.