Box, Inc. $BOX Position Cut by Mizuho Markets Americas LLC

Mizuho Markets Americas LLC trimmed its holdings in Box, Inc. (NYSE:BOX) by 10.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 578,203 shares of the software maker’s stock after selling 67,945 shares during the quarter. Mizuho Markets Americas LLC’s holdings in BOX were worth $17,294,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also added to or reduced their stakes in BOX. Northwestern Mutual Wealth Management Co. grew its holdings in BOX by 823,134.5% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,054,200 shares of the software maker’s stock worth $91,351,000 after buying an additional 3,053,829 shares in the last quarter. Qube Research & Technologies Ltd grew its holdings in BOX by 240.6% in the 2nd quarter. Qube Research & Technologies Ltd now owns 1,210,237 shares of the software maker’s stock worth $41,354,000 after buying an additional 854,953 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in BOX in the second quarter worth approximately $22,626,000. Invesco Ltd. lifted its position in BOX by 101.1% in the second quarter. Invesco Ltd. now owns 1,141,603 shares of the software maker’s stock worth $39,009,000 after purchasing an additional 573,817 shares during the period. Finally, Vanguard Group Inc. lifted its position in BOX by 2.8% in the third 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 period. 86.74% of the stock is owned by institutional investors.

BOX Stock Performance

Shares of NYSE:BOX opened at $25.90 on Friday. Box, Inc. has a one year low of $21.34 and a one year high of $38.80. The stock has a fifty day moving average of $24.17 and a 200-day moving average of $26.57. The company has a market capitalization of $3.59 billion, a PE ratio of 43.89, a price-to-earnings-growth ratio of 1.30 and a beta of 0.71.

BOX (NYSE:BOX) last announced its quarterly earnings data on Tuesday, March 3rd. The software maker reported $0.49 EPS for the quarter, beating 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 company had revenue of $305.88 million during the quarter, compared to the consensus estimate of $305.64 million. During the same quarter in the prior year, the firm earned $0.42 EPS. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. As a group, research analysts forecast that Box, Inc. will post 0.34 EPS for the current fiscal year.

BOX announced that its Board of Directors has initiated a stock repurchase plan on Thursday, March 19th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the software maker to repurchase up to 14.2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at BOX

In other news, CFO Dylan C. Smith sold 23,720 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $24.96, for a total transaction of $592,051.20. Following the completion of the sale, the chief financial officer owned 1,381,049 shares in the company, valued at approximately $34,470,983.04. This represents a 1.69% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Dana L. Evan sold 17,034 shares of the stock in a transaction on Monday, April 6th. The shares were sold at an average price of $24.24, for a total value of $412,904.16. Following the sale, the director owned 113,525 shares of the company’s stock, valued at $2,751,846. This trade represents a 13.05% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 137,086 shares of company stock worth $3,345,852. 3.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on BOX. Weiss Ratings downgraded BOX from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, May 11th. Wall Street Zen downgraded BOX from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 9th. Citigroup cut their target price on BOX from $40.00 to $36.00 and set a “buy” rating for the company in a research report on Wednesday, March 4th. DA Davidson restated a “buy” rating and issued a $45.00 target price on shares of BOX in a research report on Friday, March 20th. Finally, William Blair restated a “market perform” rating on shares of BOX in a research report on Monday, March 23rd. Four equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $35.57.

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.