Northwestern Mutual Wealth Management Co. Has $91.35 Million Stake in Box, Inc. $BOX

Northwestern Mutual Wealth Management Co. raised its position in shares of Box, Inc. (NYSE:BOX) by 823,134.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 3,054,200 shares of the software maker’s stock after acquiring an additional 3,053,829 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in BOX were worth $91,351,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Capital Fund Management S.A. increased its holdings in shares of BOX by 19.9% during the third quarter. Capital Fund Management S.A. now owns 378,101 shares of the software maker’s stock worth $12,201,000 after buying an additional 62,630 shares in the last quarter. Mizuho Markets Americas LLC acquired a new stake in shares of BOX during the third quarter worth approximately $20,851,000. Sivia Capital Partners LLC acquired a new stake in shares of BOX during the second quarter worth approximately $484,000. First Trust Advisors LP increased its holdings in shares of BOX by 6.2% during the third quarter. First Trust Advisors LP now owns 1,273,546 shares of the software maker’s stock worth $41,097,000 after buying an additional 74,758 shares in the last quarter. Finally, Natixis Advisors LLC increased its holdings in shares of BOX by 19.5% during the third quarter. Natixis Advisors LLC now owns 682,315 shares of the software maker’s stock worth $22,018,000 after buying an additional 111,153 shares in the last quarter. Institutional investors and hedge funds own 86.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on BOX. William Blair reaffirmed a “market perform” rating on shares of BOX in a report on Monday, March 23rd. Citigroup lowered their price target 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. Morgan Stanley lowered their price target on shares of BOX from $38.00 to $33.00 and set an “equal weight” rating for the company in a report on Thursday, March 12th. UBS Group lowered their price target on shares of BOX from $31.00 to $28.00 and set a “hold” rating for the company in a report on Wednesday, March 4th. Finally, Weiss Ratings lowered shares of BOX from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 11th. 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $35.57.

Insiders Place Their Bets

In related news, CFO Dylan C. Smith sold 23,720 shares of the business’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $24.96, for a total value of $592,051.20. Following the sale, the chief financial officer directly owned 1,381,049 shares of the company’s stock, valued at approximately $34,470,983.04. The trade was a 1.69% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Aaron Levie sold 15,000 shares of the business’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $24.72, for a total transaction of $370,800.00. Following the completion of the sale, the chief executive officer directly owned 2,907,030 shares in the company, valued at $71,861,781.60. This represents a 0.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 137,086 shares of company stock worth $3,345,852 in the last ninety days. 3.90% of the stock is owned by insiders.

BOX Stock Up 2.6%

Shares of NYSE BOX opened at $24.68 on Friday. The company’s fifty day moving average is $24.14 and its 200-day moving average is $26.80. The stock has a market cap of $3.42 billion, a price-to-earnings ratio of 41.82, a P/E/G ratio of 1.27 and a beta of 0.71. Box, Inc. has a twelve month low of $21.34 and a twelve month high of $38.80.

BOX (NYSE:BOX) last announced its quarterly earnings results on Tuesday, March 3rd. The software maker reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.16. The company had revenue of $305.88 million for the quarter, compared to analysts’ expectations of $305.64 million. BOX had a net margin of 9.80% and a negative return on equity of 23.61%. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period last year, the firm posted $0.42 earnings per share. On average, research analysts anticipate 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 allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the software maker to repurchase 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.

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.