HighTower Advisors LLC Purchases 23,120 Shares of Box, Inc. $BOX

HighTower Advisors LLC increased its position in Box, Inc. (NYSE:BOX) by 5.6% in the 4th quarter, Holdings Channel reports. The firm owned 435,663 shares of the software maker’s stock after buying an additional 23,120 shares during the quarter. HighTower Advisors LLC’s holdings in BOX were worth $13,031,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in BOX. Northwestern Mutual Wealth Management Co. boosted its stake in shares of 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 valued at $91,351,000 after purchasing an additional 3,053,829 shares in the last quarter. Oregon Public Employees Retirement Fund increased its holdings in shares of BOX by 1.7% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 33,158 shares of the software maker’s stock valued at $992,000 after purchasing an additional 556 shares in the last quarter. Madison Asset Management LLC increased its stake in shares of BOX by 0.6% in the 4th quarter. Madison Asset Management LLC now owns 162,911 shares of the software maker’s stock valued at $4,873,000 after buying an additional 1,041 shares during the period. Versor Investments LP raised its holdings in BOX by 35.0% during the 4th quarter. Versor Investments LP now owns 38,200 shares of the software maker’s stock worth $1,143,000 after purchasing an additional 9,900 shares during the last quarter. Finally, Swiss Life Asset Management Ltd raised its stake in shares of BOX by 90.6% during the fourth quarter. Swiss Life Asset Management Ltd now owns 12,958 shares of the software maker’s stock worth $388,000 after buying an additional 6,159 shares during the last quarter. 86.74% of the stock is owned by institutional investors and hedge funds.

BOX Stock Performance

NYSE BOX opened at $25.90 on Monday. Box, Inc. has a 52 week low of $21.34 and a 52 week high of $38.80. The stock’s 50 day moving average price is $24.17 and its two-hundred day moving average price is $26.53. The stock has a market capitalization of $3.59 billion, a price-to-earnings ratio of 43.89, a PEG ratio of 1.33 and a beta of 0.71.

BOX (NYSE:BOX) last issued its quarterly earnings results on Tuesday, March 3rd. The software maker reported $0.49 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $305.64 million. During the same period last year, the business earned $0.42 EPS. The business’s quarterly revenue was up 9.4% on a year-over-year basis. On average, equities research analysts forecast that Box, Inc. will post 0.34 EPS for the current year.

BOX declared that its board has authorized a share buyback plan on Thursday, March 19th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the software maker to purchase up to 14.2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other BOX news, COO Olivia Nottebohm sold 12,470 shares of BOX stock in a transaction on Friday, May 8th. The shares were sold at an average price of $25.17, for a total value of $313,869.90. Following the sale, the chief operating officer directly owned 558,739 shares in the company, valued at approximately $14,063,460.63. The trade was a 2.18% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Eli Berkovitch sold 24,500 shares of the business’s stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $23.85, for a total transaction of $584,325.00. Following the sale, the vice president directly owned 95,516 shares in the company, valued at $2,278,056.60. This trade represents a 20.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 137,086 shares of company stock valued at $3,345,852 in the last quarter. Company insiders own 3.90% of the company’s stock.

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.