Eli Berkovitch Sells 24,500 Shares of BOX (NYSE:BOX) Stock

Box, Inc. (NYSE:BOX) VP Eli Berkovitch sold 24,500 shares of the business’s stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $23.85, for a total value of $584,325.00. Following the sale, the vice president directly owned 95,516 shares in the company, valued at $2,278,056.60. This trade represents a 20.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

BOX Trading Down 3.3%

Shares of BOX stock traded down $0.79 on Wednesday, reaching $23.22. 2,147,808 shares of the company were exchanged, compared to its average volume of 2,423,793. The stock has a fifty day moving average price of $24.06 and a 200-day moving average price of $28.32. The firm has a market capitalization of $3.21 billion, a price-to-earnings ratio of 39.35, a price-to-earnings-growth ratio of 1.23 and a beta of 0.71. Box, Inc. has a fifty-two week low of $21.61 and a fifty-two week high of $38.80.

BOX (NYSE:BOX) last announced its earnings results on Tuesday, March 3rd. The software maker reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.16. The company had revenue of $305.88 million for the quarter, compared to analyst estimates of $305.64 million. BOX had a negative return on equity of 23.61% and a net margin of 9.80%.BOX’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.42 earnings per share. On average, equities analysts anticipate that Box, Inc. will post 0.27 earnings per share for the current fiscal year.

BOX declared that its board has authorized a stock repurchase plan on Thursday, March 19th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the software maker to purchase up to 14.2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of BOX. Northwestern Mutual Wealth Management Co. grew its stake in BOX by 823,134.5% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,054,200 shares of the software maker’s stock valued at $91,351,000 after purchasing an additional 3,053,829 shares in the last quarter. Norges Bank purchased a new position in BOX in the fourth quarter valued at about $58,814,000. Qube Research & Technologies Ltd grew its stake in BOX by 240.6% in the second quarter. Qube Research & Technologies Ltd now owns 1,210,237 shares of the software maker’s stock valued at $41,354,000 after purchasing an additional 854,953 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in BOX in the second quarter valued at about $22,626,000. Finally, Mizuho Markets Americas LLC purchased a new position in BOX in the third quarter valued at about $20,851,000. Hedge funds and other institutional investors own 86.74% of the company’s stock.

Analysts Set New Price Targets

BOX has been the topic of several recent analyst reports. DA Davidson reissued a “buy” rating and set a $45.00 price target on shares of BOX in a research report on Friday, March 20th. Weiss Ratings reissued a “hold (c+)” rating on shares of BOX in a research report on Monday, December 29th. William Blair reissued a “market perform” rating on shares of BOX in a research report on Monday, March 23rd. Citigroup dropped their price target on BOX from $40.00 to $36.00 and set a “buy” rating on the stock in a research report on Wednesday, March 4th. Finally, Morgan Stanley dropped their price target on BOX from $38.00 to $33.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 12th. Four investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, BOX has an average rating of “Hold” and a consensus price target of $35.57.

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.