Fort Washington Investment Advisors Inc. OH Buys 172,498 Shares of Box, Inc. $BOX

Fort Washington Investment Advisors Inc. OH lifted its stake in shares of Box, Inc. (NYSE:BOX) by 21.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 985,887 shares of the software maker’s stock after buying an additional 172,498 shares during the quarter. Fort Washington Investment Advisors Inc. OH’s holdings in BOX were worth $29,488,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Mackenzie Financial Corp raised its holdings in BOX by 15.2% in the 2nd quarter. Mackenzie Financial Corp now owns 560,329 shares of the software maker’s stock valued at $19,146,000 after acquiring an additional 73,896 shares during the period. Creative Planning boosted its holdings in shares of BOX by 84.3% during the second quarter. Creative Planning now owns 39,251 shares of the software maker’s stock worth $1,341,000 after acquiring an additional 17,950 shares during the period. Neuberger Berman Group LLC boosted its holdings in shares of BOX by 38.1% during the second quarter. Neuberger Berman Group LLC now owns 955,286 shares of the software maker’s stock worth $32,637,000 after acquiring an additional 263,619 shares during the period. Mizuho Markets Americas LLC acquired a new position in shares of BOX in the third quarter valued at approximately $20,851,000. Finally, Trek Financial LLC acquired a new position in shares of BOX in the second quarter valued at approximately $6,276,000. Institutional investors own 86.74% of the company’s stock.

Wall Street Analysts Forecast Growth

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

BOX Trading Down 3.3%

NYSE BOX opened at $23.03 on Friday. The company has a market cap of $3.19 billion, a price-to-earnings ratio of 39.04, a PEG ratio of 1.22 and a beta of 0.80. The company has a 50 day moving average of $24.47 and a 200-day moving average of $28.85. Box, Inc. has a 1-year low of $21.61 and a 1-year 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 (EPS) for the quarter, topping 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 business had revenue of $305.88 million for the quarter, compared to the consensus estimate of $305.64 million. During the same quarter in the prior year, the business posted $0.42 earnings per share. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. On average, equities research analysts forecast that Box, Inc. will post 0.27 earnings per share for the current year.

BOX declared that its Board of Directors has approved a stock repurchase plan on Thursday, March 19th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the software maker to purchase up to 14.2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Insider Transactions at BOX

In related news, CFO Dylan C. Smith sold 17,000 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $31,992,500.40. The trade was a 1.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Aaron Levie sold 15,000 shares of the company’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $24.72, for a total transaction of $370,800.00. Following the sale, the chief executive officer directly owned 2,907,030 shares of the company’s stock, valued at $71,861,781.60. This represents a 0.51% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 75,224 shares of company stock valued at $1,953,474. 3.90% of the stock is owned by corporate insiders.

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.