Profit Investment Management LLC Sells 53,663 Shares of Box, Inc. $BOX

Profit Investment Management LLC lowered its position in shares of Box, Inc. (NYSE:BOX) by 77.8% in the fourth quarter, HoldingsChannel reports. The firm owned 15,295 shares of the software maker’s stock after selling 53,663 shares during the period. BOX makes up approximately 1.8% of Profit Investment Management LLC’s investment portfolio, making the stock its 23rd biggest holding. Profit Investment Management LLC’s holdings in BOX were worth $457,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in BOX. Geneos Wealth Management Inc. acquired a new position in BOX in the first quarter valued at about $31,000. Salomon & Ludwin LLC acquired a new stake in shares of BOX during the third quarter worth approximately $32,000. Employees Retirement System of Texas acquired a new stake in shares of BOX during the third quarter worth approximately $35,000. CIBC Private Wealth Group LLC raised its stake in shares of BOX by 1,778.1% in the third quarter. CIBC Private Wealth Group LLC now owns 1,202 shares of the software maker’s stock valued at $39,000 after acquiring an additional 1,138 shares during the last quarter. Finally, Covestor Ltd raised its stake 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 acquiring an additional 703 shares during the last quarter. 86.74% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. DA Davidson restated a “buy” rating and set a $45.00 price target on shares of BOX in a research report on Friday. Morgan Stanley reduced their price objective on BOX from $38.00 to $33.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 12th. Wall Street Zen upgraded BOX from a “hold” rating to a “strong-buy” rating in a report on Saturday, March 14th. UBS Group lowered their target price on BOX from $31.00 to $28.00 and set a “hold” rating for the company in a research note on Wednesday, March 4th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of BOX in a report on Monday, December 29th. Four equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, BOX has an average rating of “Hold” and a consensus target price of $35.57.

Insiders Place Their Bets

In other BOX news, COO Olivia Nottebohm sold 4,612 shares of the company’s stock in a transaction on Friday, March 6th. The shares were sold at an average price of $25.78, for a total transaction of $118,897.36. Following the completion of the sale, the chief operating officer owned 465,219 shares in the company, valued at approximately $11,993,345.82. The trade was a 0.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Dylan C. Smith sold 17,000 shares of the firm’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $24.72, for a total value of $420,240.00. Following the completion of the transaction, the chief financial officer owned 1,294,195 shares in the company, valued at $31,992,500.40. This represents a 1.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 79,836 shares of company stock valued at $2,091,096. Company insiders own 3.90% of the company’s stock.

BOX Stock Up 3.3%

Shares of BOX stock opened at $24.65 on Friday. The firm has a market cap of $3.53 billion, a price-to-earnings ratio of 41.77, a PEG ratio of 1.26 and a beta of 0.80. Box, Inc. has a 12 month low of $21.61 and a 12 month high of $38.80. The stock has a 50-day moving average price of $24.85 and a 200 day moving average price of $29.14.

BOX (NYSE:BOX) last released its earnings results on Tuesday, March 3rd. The software maker reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.16. BOX had a net margin of 9.80% and a negative return on equity of 23.61%. The company had revenue of $305.88 million for the quarter, compared to the consensus estimate of $305.64 million. During the same period in the prior year, the company posted $0.42 EPS. The company’s revenue was up 9.4% compared to the same quarter last year. Sell-side analysts predict that Box, Inc. will post 0.27 earnings per share for the current fiscal year.

BOX declared that its board has initiated a stock buyback program on Thursday, March 19th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the software maker to purchase up to 14.2% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.

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.