Box, Inc. (NYSE:BOX) CFO Sells $409,760.00 in Stock

Box, Inc. (NYSE:BOX) CFO Dylan C. Smith sold 13,000 shares of the business’s stock in a transaction on Friday, May 9th. The stock was sold at an average price of $31.52, for a total transaction of $409,760.00. Following the completion of the sale, the chief financial officer now owns 1,520,550 shares in the company, valued at $47,927,736. This represents a 0.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

BOX Stock Up 2.0%

Shares of BOX opened at $32.28 on Friday. Box, Inc. has a 52-week low of $24.63 and a 52-week high of $35.74. The firm’s fifty day moving average is $30.67 and its two-hundred day moving average is $32.18. The stock has a market cap of $4.64 billion, a PE ratio of 40.35, a price-to-earnings-growth ratio of 4.42 and a beta of 0.94.

BOX declared that its board has approved a stock repurchase program on Tuesday, March 4th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the software maker to buy up to 3.1% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

Several brokerages recently weighed in on BOX. DA Davidson reduced their price target on shares of BOX from $45.00 to $40.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Royal Bank of Canada restated an “underperform” rating and issued a $21.00 price target on shares of BOX in a research report on Wednesday, March 19th. JPMorgan Chase & Co. reduced their price target on shares of BOX from $38.00 to $37.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 5th. Raymond James restated an “outperform” rating and issued a $38.00 price target (down previously from $40.00) on shares of BOX in a research report on Wednesday, March 5th. Finally, Morgan Stanley reduced their price target on shares of BOX from $36.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 16th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.44.

Institutional Trading of BOX

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada raised its holdings in BOX by 8.5% in the 1st quarter. Royal Bank of Canada now owns 638,062 shares of the software maker’s stock valued at $19,690,000 after buying an additional 49,758 shares during the period. Caption Management LLC raised its holdings in BOX by 94.7% in the 1st quarter. Caption Management LLC now owns 43,025 shares of the software maker’s stock valued at $1,328,000 after buying an additional 20,925 shares during the period. Trexquant Investment LP raised its holdings in BOX by 62.8% in the 1st quarter. Trexquant Investment LP now owns 164,928 shares of the software maker’s stock valued at $5,090,000 after buying an additional 63,615 shares during the period. BNP Paribas Financial Markets raised its holdings in BOX by 2.2% in the 1st quarter. BNP Paribas Financial Markets now owns 1,070,157 shares of the software maker’s stock valued at $33,025,000 after buying an additional 22,962 shares during the period. Finally, RGM Capital LLC raised its holdings in BOX by 9.3% in the 1st quarter. RGM Capital LLC now owns 3,749,773 shares of the software maker’s stock valued at $115,718,000 after buying an additional 318,459 shares during the period. 86.74% of the stock is currently owned by hedge funds and other institutional investors.

BOX Company Profile

Box, Inc engages in the provision of an enterprise content platform that enables organizations to securely manage enterprise content while allowing easy, secure access and sharing of this content from anywhere, on any device. Its products include cloud content management, IT and admin controls, Box Governance, Box Zones, Box Relay, Box Shuttle, and Box KeySafe.