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

Fort Washington Investment Advisors Inc. OH grew its holdings in Box, Inc. (NYSE:BOX) by 21.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 985,887 shares of the software maker’s stock after purchasing an additional 172,498 shares during the period. Fort Washington Investment Advisors Inc. OH owned about 0.69% of BOX worth $29,488,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Salomon & Ludwin LLC bought a new position in BOX in the third quarter valued at $32,000. Geneos Wealth Management Inc. acquired a new stake in BOX in the 1st quarter valued at $31,000. Employees Retirement System of Texas bought a new stake in BOX during the 3rd quarter worth about $35,000. CIBC Private Wealth Group LLC lifted its position in BOX by 1,778.1% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 1,202 shares of the software maker’s stock worth $39,000 after buying an additional 1,138 shares in the last quarter. Finally, Covestor Ltd boosted its stake in shares of BOX by 112.8% during the 3rd quarter. Covestor Ltd now owns 1,326 shares of the software maker’s stock worth $42,000 after buying an additional 703 shares during the last quarter. Institutional investors own 86.74% of the company’s stock.

BOX Price Performance

BOX stock opened at $23.03 on Friday. The firm has a market capitalization of $3.19 billion, a PE ratio of 39.04, a P/E/G ratio of 1.22 and a beta of 0.80. The company’s 50-day moving average is $24.47 and its 200-day moving average is $28.85. Box, Inc. has a fifty-two week low of $21.61 and a fifty-two week high of $38.80.

BOX (NYSE:BOX) last issued 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 analysts’ expectations of $305.64 million. During the same period in the prior year, the firm earned $0.42 EPS. BOX’s quarterly revenue was up 9.4% compared to the same quarter last year. As a group, analysts expect that Box, Inc. will post 0.27 EPS for the current year.

BOX declared that its board has approved a share 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 shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at BOX

In other news, CFO Dylan C. Smith sold 17,000 shares of the firm’s stock in a transaction that occurred 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 sale, the chief financial officer directly owned 1,294,195 shares of the company’s stock, valued at $31,992,500.40. This trade represents a 1.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO Olivia Nottebohm sold 4,612 shares of the firm’s stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $25.78, for a total value of $118,897.36. Following the completion of the sale, the chief operating officer directly owned 465,219 shares of the company’s stock, valued at approximately $11,993,345.82. The trade was a 0.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 75,224 shares of company stock worth $1,953,474 over the last 90 days. Company insiders own 3.90% of the company’s stock.

Analyst Ratings Changes

BOX has been the subject of several analyst reports. UBS Group decreased their price objective on BOX from $31.00 to $28.00 and set a “hold” rating for the company in a report on Wednesday, March 4th. DA Davidson reiterated a “buy” rating and set a $45.00 target price on shares of BOX in a report on Friday, March 20th. William Blair reissued a “market perform” rating on shares of BOX in a research report on Monday, March 23rd. Weiss Ratings restated a “hold (c+)” rating on shares of BOX in a research note on Monday, December 29th. Finally, Wall Street Zen lowered BOX from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Four equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target 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.