5 Most Profitable SaaS Companies for 2023

2. Box, Inc. (NYSE:BOX)

Trailing Twelve Months Net Income: $1.9 billion

Number of Hedge Fund Holders In Q3 2022: 29

Box, Inc. (NYSE:BOX) is a software company that allows firms to collaborate with each other to develop applications and manage their security.

Box, Inc. (NYSE:BOX)’s share price target was reduced to $24 from $28 by RBC Capital in January 2023 as the firm worried about the sustainability of a recent turnaround. Insider Monkey took a look at 920 hedge fund portfolios for last year’s third quarter to discover that 29 had invested in the firm.

Out of these, Robert G. Moses’ RGM Capital is Box, Inc. (NYSE:BOX)’s largest investor. It owns 3.7 million shares that are worth $91 million.

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