Insider Selling: Box, Inc. (NYSE:BOX) COO Sells 2,105 Shares of Stock

Box, Inc. (NYSE:BOX) COO Olivia Nottebohm sold 2,105 shares of the stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $30.76, for a total value of $64,749.80. Following the completion of the sale, the chief operating officer now owns 427,113 shares of the company’s stock, valued at $13,137,995.88. The trade was a 0.49 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Olivia Nottebohm also recently made the following trade(s):

• On Monday, February 10th, Olivia Nottebohm sold 6,079 shares of BOX stock. The shares were sold at an average price of $34.42, for a total value of $209,239.18.
• On Tuesday, January 21st, Olivia Nottebohm sold 6,079 shares of BOX stock. The stock was sold at an average price of $31.91, for a total value of $193,980.89.
• On Thursday, December 26th, Olivia Nottebohm sold 12,414 shares of BOX stock. The shares were sold at an average price of $31.85, for a total value of $395,385.90.

BOX Price Performance

Shares of NYSE:BOX opened at $30.99 on Thursday. The stock has a market capitalization of $4.46 billion, a P/E ratio of 38.74, a P/E/G ratio of 4.42 and a beta of 1.00. The business has a 50-day moving average of $32.70 and a two-hundred day moving average of $32.67. Box, Inc. has a fifty-two week low of $24.63 and a fifty-two week high of $35.74.

BOX announced that its Board of Directors has initiated a share repurchase program on Tuesday, March 4th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the software maker to reacquire up to 3.1% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On BOX

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC lifted its stake in shares of BOX by 10.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 7,127 shares of the software maker’s stock worth $225,000 after buying an additional 679 shares during the last quarter. Mackenzie Financial Corp raised its holdings in BOX by 28.2% in the 4th quarter. Mackenzie Financial Corp now owns 341,606 shares of the software maker’s stock worth $10,795,000 after acquiring an additional 75,041 shares during the period. Vise Technologies Inc. lifted its position in BOX by 38.5% during the 4th quarter. Vise Technologies Inc. now owns 8,540 shares of the software maker’s stock worth $270,000 after acquiring an additional 2,372 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in BOX by 20.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 445,096 shares of the software maker’s stock valued at $14,065,000 after acquiring an additional 75,098 shares during the period. Finally, Woodline Partners LP increased its stake in shares of BOX by 63.3% in the fourth quarter. Woodline Partners LP now owns 15,294 shares of the software maker’s stock worth $483,000 after purchasing an additional 5,930 shares during the period. Institutional investors and hedge funds own 86.74% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Citigroup boosted their price objective 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. Bank of America initiated coverage on shares of BOX in a report on Thursday, December 12th. They set a “buy” rating and a $40.00 price target on the stock. Royal Bank of Canada reiterated an “underperform” rating and set a $21.00 price objective on shares of BOX in a report on Wednesday, March 19th. Morgan Stanley lifted their price objective on BOX from $33.00 to $36.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 4th. Finally, StockNews.com lowered BOX from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, BOX presently has an average rating of “Moderate Buy” and a consensus target price of $37.11.

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.