Assenagon Asset Management S.A. Takes Position in Box, Inc. $BOX

Assenagon Asset Management S.A. acquired a new position in Box, Inc. (NYSE:BOX) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 28,009 shares of the software maker’s stock, valued at approximately $838,000.

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

BOX Price Performance

Shares of BOX stock opened at $23.66 on Wednesday. The firm has a 50 day simple moving average of $24.37 and a 200 day simple moving average of $28.66. Box, Inc. has a fifty-two week low of $21.61 and a fifty-two week high of $38.80. The firm has a market cap of $3.28 billion, a P/E ratio of 40.11, a P/E/G ratio of 1.20 and a beta of 0.80.

BOX (NYSE:BOX) last posted its quarterly earnings data on Tuesday, March 3rd. The software maker reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.16. The firm had revenue of $305.88 million for the quarter, compared to the consensus estimate of $305.64 million. BOX had a negative return on equity of 23.61% and a net margin of 9.80%.The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.42 EPS. On average, sell-side analysts expect that Box, Inc. will post 0.27 EPS for the current year.

BOX declared that its Board of Directors has initiated a share 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 purchase up to 14.2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Insider Activity

In related news, CEO Aaron Levie sold 15,000 shares of the firm’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 $370,800.00. Following the transaction, the chief executive officer owned 2,907,030 shares in the company, valued at $71,861,781.60. This trade represents a 0.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Dylan C. Smith sold 17,000 shares of BOX stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $24.75, for a total value of $420,750.00. Following the completion of the sale, the chief financial officer owned 1,311,195 shares of the company’s stock, valued at approximately $32,452,076.25. The trade was a 1.28% 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 valued at $1,953,474 over the last 90 days. 3.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. William Blair reissued a “market perform” rating on shares of BOX in a research report on Monday, March 23rd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of BOX in a research note on Monday, December 29th. Wall Street Zen cut BOX from a “strong-buy” rating to a “buy” rating in a research report on Saturday. UBS Group dropped their price objective 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, Morgan Stanley reduced their price target on shares of BOX from $38.00 to $33.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 12th. Four investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, BOX has an average rating of “Hold” and a consensus target price of $35.57.

BOX 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.