Box, Inc. (NYSE:BOX) CFO Sells $386,360.00 in Stock

Box, Inc. (NYSE:BOX) CFO Dylan C. Smith sold 13,000 shares of the company’s stock in a transaction on Thursday, April 10th. The shares were sold at an average price of $29.72, for a total value of $386,360.00. Following the completion of the transaction, the chief financial officer now directly owns 1,463,951 shares in the company, valued at approximately $43,508,623.72. This trade represents a 0.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

BOX Trading Down 0.4 %

Shares of BOX stock opened at $29.84 on Thursday. Box, Inc. has a twelve month low of $24.63 and a twelve month high of $35.74. The firm has a 50-day moving average price of $31.84 and a 200 day moving average price of $32.36. The company has a market capitalization of $4.29 billion, a price-to-earnings ratio of 37.30, a PEG ratio of 4.42 and a beta of 0.96.

BOX declared that its Board of Directors has authorized a stock repurchase program on Tuesday, March 4th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the software maker to purchase up to 3.1% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

Institutional Trading of BOX

A number of institutional investors and hedge funds have recently bought and sold shares of BOX. Janney Montgomery Scott LLC raised its position in BOX by 5.3% in the fourth quarter. Janney Montgomery Scott LLC now owns 7,807 shares of the software maker’s stock valued at $247,000 after purchasing an additional 391 shares during the period. Farther Finance Advisors LLC increased its holdings in BOX by 19.3% during the 4th quarter. Farther Finance Advisors LLC now owns 2,579 shares of the software maker’s stock worth $81,000 after purchasing an additional 417 shares during the last quarter. Sanctuary Advisors LLC raised its position in shares of BOX by 1.2% in the 4th quarter. Sanctuary Advisors LLC now owns 35,775 shares of the software maker’s stock valued at $1,189,000 after purchasing an additional 423 shares in the last quarter. Aspiriant LLC boosted its stake in shares of BOX by 5.0% during the 4th quarter. Aspiriant LLC now owns 9,048 shares of the software maker’s stock valued at $286,000 after buying an additional 427 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of BOX by 2.6% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 17,340 shares of the software maker’s stock valued at $548,000 after buying an additional 442 shares during the last quarter. Institutional investors and hedge funds own 86.74% of the company’s stock.

Analyst Upgrades and Downgrades

BOX has been the topic of a number of analyst reports. JPMorgan Chase & Co. reduced their price target on BOX from $38.00 to $37.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 5th. Morgan Stanley decreased their target price on BOX from $36.00 to $35.00 and set an “equal weight” rating for the company in a research report on Wednesday. DA Davidson decreased their price objective on BOX from $45.00 to $40.00 and set a “buy” rating for the company in a research report on Monday. Raymond James reissued an “outperform” rating and issued a $38.00 price objective (down from $40.00) on shares of BOX in a research note on Wednesday, March 5th. Finally, StockNews.com downgraded BOX from a “strong-buy” rating to a “buy” rating in a report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, BOX has a consensus rating of “Moderate Buy” and a consensus price target of $36.44.

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.