BOX (NYSE:BOX) Issues Quarterly Earnings Results, Beats Expectations By $0.16 EPS

BOX (NYSE:BOX) announced its quarterly earnings data on Tuesday. The software maker reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.16, FiscalAI reports. The business had revenue of $305.88 million for the quarter, compared to analysts’ expectations of $305.64 million. BOX had a negative return on equity of 20.65% and a net margin of 19.79%.

BOX Trading Up 1.6%

BOX traded up $0.38 during midday trading on Tuesday, reaching $23.96. The company’s stock had a trading volume of 3,632,582 shares, compared to its average volume of 2,734,417. BOX has a 1 year low of $21.61 and a 1 year high of $38.80. The firm has a market capitalization of $3.43 billion, a price-to-earnings ratio of 19.32, a PEG ratio of 1.35 and a beta of 0.80. The stock’s 50-day moving average is $26.20 and its 200-day moving average is $29.80.

Insider Activity at BOX

In related news, Director Jack R. Lazar sold 2,500 shares of BOX stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $31.77, for a total value of $79,425.00. Following the completion of the transaction, the director owned 25,355 shares in the company, valued at approximately $805,528.35. This trade represents a 8.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Aaron Levie sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $30.53, for a total value of $457,950.00. Following the sale, the chief executive officer owned 2,922,030 shares in the company, valued at approximately $89,209,575.90. This trade represents a 0.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 82,887 shares of company stock valued at $2,399,707 over the last ninety days. Corporate insiders own 3.90% of the company’s stock.

Hedge Funds Weigh In On BOX

Large investors have recently modified their holdings of the stock. Geneos Wealth Management Inc. bought a new stake in shares of BOX in the 1st quarter valued at about $31,000. Employees Retirement System of Texas bought a new position in BOX in the third quarter worth approximately $35,000. CIBC Private Wealth Group LLC lifted its holdings 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 during the period. Toronto Dominion Bank purchased a new stake in BOX during the fourth quarter worth $60,000. Finally, EverSource Wealth Advisors LLC boosted its position in BOX by 1,995.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,263 shares of the software maker’s stock valued at $77,000 after acquiring an additional 2,155 shares in the last quarter. Institutional investors own 86.74% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of BOX in a report on Monday, December 29th. DA Davidson reaffirmed a “buy” rating and set a $45.00 target price on shares of BOX in a report on Wednesday, December 3rd. Five analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, BOX presently has a consensus rating of “Hold” and a consensus price target of $38.00.

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.