Insider Selling: Box, Inc. (NYSE:BOX) CEO Sells 10,000 Shares of Stock

Box, Inc. (NYSE:BOX) CEO Aaron Levie sold 10,000 shares of BOX stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $32.08, for a total value of $320,800.00. Following the sale, the chief executive officer now directly owns 2,979,780 shares of the company’s stock, valued at approximately $95,591,342.40. This trade represents a 0.33 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

BOX Stock Down 1.5 %

Shares of NYSE:BOX traded down $0.48 during midday trading on Wednesday, hitting $30.93. 1,859,638 shares of the stock traded hands, compared to its average volume of 1,879,400. Box, Inc. has a one year low of $24.63 and a one year high of $35.74. The stock has a market capitalization of $4.44 billion, a PE ratio of 38.66, a P/E/G ratio of 4.42 and a beta of 1.00. The business’s 50 day moving average is $32.83 and its two-hundred day moving average is $32.75.

BOX declared that its Board of Directors has approved a share repurchase plan on Tuesday, March 4th that allows the company to buyback $150.00 million in shares. This buyback authorization allows the software maker to buy up to 3.1% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Institutional Trading of BOX

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BOX. Itau Unibanco Holding S.A. purchased a new position in BOX during the 3rd quarter valued at $36,000. Smartleaf Asset Management LLC increased its position in shares of BOX by 715.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,162 shares of the software maker’s stock valued at $69,000 after buying an additional 1,897 shares during the period. TD Waterhouse Canada Inc. grew its stake in shares of BOX by 42.4% in the 4th quarter. TD Waterhouse Canada Inc. now owns 2,194 shares of the software maker’s stock worth $69,000 after buying an additional 653 shares during the last quarter. Farther Finance Advisors LLC increased its position in BOX by 245.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,162 shares of the software maker’s stock valued at $71,000 after buying an additional 1,536 shares in the last quarter. Finally, SBI Securities Co. Ltd. purchased a new position in BOX during the fourth quarter valued at $132,000. Hedge funds and other institutional investors own 86.74% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on BOX. Morgan Stanley boosted their target price on BOX from $33.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 4th. StockNews.com lowered shares of BOX from a “strong-buy” rating to a “buy” rating in a report on Wednesday, January 8th. DA Davidson initiated coverage on shares of BOX in a report on Wednesday, December 18th. They set a “buy” rating and a $45.00 target price on the stock. UBS Group lifted their target price on shares of BOX from $34.00 to $42.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Finally, Citigroup upped their price target on shares of BOX from $34.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $36.60.

About BOX

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.