Hussman Strategic Advisors Inc. Makes New Investment in Box, Inc. $BOX

Hussman Strategic Advisors Inc. purchased a new position in Box, Inc. (NYSE:BOX) during the 4th quarter, Holdings Channel reports. The firm purchased 42,000 shares of the software maker’s stock, valued at approximately $1,256,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. State of New Jersey Common Pension Fund D grew its position in BOX by 6.7% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 72,793 shares of the software maker’s stock worth $2,177,000 after purchasing an additional 4,574 shares during the last quarter. Pictet Asset Management Holding SA grew its position in BOX by 7.9% in the 4th quarter. Pictet Asset Management Holding SA now owns 22,529 shares of the software maker’s stock worth $674,000 after purchasing an additional 1,651 shares during the last quarter. Concurrent Investment Advisors LLC grew its position in BOX by 42.7% in the 4th quarter. Concurrent Investment Advisors LLC now owns 9,977 shares of the software maker’s stock worth $298,000 after purchasing an additional 2,985 shares during the last quarter. Jones Kertz & Associates Inc. acquired a new stake in BOX in the 4th quarter worth $949,000. Finally, Evergreen Capital Management LLC grew its position in BOX by 18.8% in the 4th quarter. Evergreen Capital Management LLC now owns 10,615 shares of the software maker’s stock worth $317,000 after purchasing an additional 1,679 shares during the last quarter. 86.74% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have issued reports on BOX. William Blair restated a “market perform” rating on shares of BOX in a research report on Monday, March 23rd. 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. UBS Group decreased their target price on shares of BOX from $31.00 to $28.00 and set a “hold” rating on the stock in a research report on Wednesday, March 4th. Citigroup decreased their target price on shares of BOX from $40.00 to $36.00 and set a “buy” rating on the stock in a research report on Wednesday, March 4th. Finally, Wall Street Zen upgraded shares of BOX from a “buy” rating to a “strong-buy” rating in a research report on Saturday, April 25th. Four research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, BOX currently has a consensus rating of “Hold” and a consensus target price of $35.57.

Insider Buying and Selling at BOX

In other BOX news, COO Olivia Nottebohm sold 6,528 shares of the business’s stock in a transaction dated Tuesday, April 7th. The shares were sold at an average price of $24.07, for a total value of $157,128.96. Following the transaction, the chief operating officer directly owned 487,488 shares in the company, valued at $11,733,836.16. The trade was a 1.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Eli Berkovitch sold 24,500 shares of the business’s stock in a transaction dated Wednesday, April 8th. The shares were sold at an average price of $23.85, for a total transaction of $584,325.00. Following the completion of the transaction, the vice president owned 95,516 shares in the company, valued at approximately $2,278,056.60. This trade represents a 20.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 111,954 shares of company stock worth $2,712,131 in the last 90 days. 3.90% of the stock is currently owned by insiders.

BOX Stock Performance

Shares of BOX stock opened at $25.04 on Monday. The firm’s 50-day simple moving average is $23.93 and its 200-day simple moving average is $27.29. Box, Inc. has a twelve month low of $21.34 and a twelve month high of $38.80. The firm has a market cap of $3.47 billion, a P/E ratio of 42.44, a price-to-earnings-growth ratio of 1.28 and a beta of 0.71.

BOX (NYSE:BOX) last issued its earnings results on Tuesday, March 3rd. The software maker reported $0.49 earnings per share for the quarter, beating 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 business had revenue of $305.88 million for the quarter, compared to analyst estimates of $305.64 million. During the same period in the previous year, the business earned $0.42 EPS. The firm’s revenue was up 9.4% on a year-over-year basis. On average, equities analysts forecast that Box, Inc. will post 0.34 earnings per share for the current fiscal year.

BOX declared that its board has approved a share buyback plan on Thursday, March 19th that permits the company to repurchase $500.00 million in outstanding 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 typically an indication that the company’s leadership believes its shares are undervalued.

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.