Box, Inc. (NYSE:BOX) CFO Dylan C. Smith Sells 13,000 Shares of Stock

Box, Inc. (NYSE:BOX) CFO Dylan C. Smith sold 13,000 shares of the company’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $31.95, for a total value of $415,350.00. Following the completion of the transaction, the chief financial officer now owns 1,440,684 shares of the company’s stock, valued at $46,029,853.80. The trade was a 0.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

BOX Price Performance

BOX opened at $30.93 on Thursday. The business has a 50 day simple moving average of $32.81 and a two-hundred day simple moving average of $32.74. The firm has a market capitalization of $4.44 billion, a price-to-earnings ratio of 38.66, a PEG ratio of 4.42 and a beta of 1.00. Box, Inc. has a one year low of $24.63 and a one year high of $35.74.

BOX declared that its board 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 reacquire up to 3.1% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Janney Montgomery Scott LLC raised its position in BOX by 5.3% during the 4th 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 last quarter. Farther Finance Advisors LLC raised its position in shares of BOX by 19.3% in the 4th quarter. Farther Finance Advisors LLC now owns 2,579 shares of the software maker’s stock worth $81,000 after acquiring an additional 417 shares in 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 worth $1,189,000 after acquiring an additional 423 shares in the last quarter. Aspiriant LLC raised its position in shares of BOX by 5.0% in the 4th quarter. Aspiriant LLC now owns 9,048 shares of the software maker’s stock worth $286,000 after acquiring an additional 427 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of BOX by 2.6% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 17,340 shares of the software maker’s stock worth $548,000 after acquiring an additional 442 shares in the last quarter. Institutional investors own 86.74% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on BOX shares. Royal Bank of Canada reiterated an “underperform” rating and issued a $21.00 price objective on shares of BOX in a report on Wednesday, December 4th. JPMorgan Chase & Co. dropped their target price on BOX from $38.00 to $37.00 and set an “overweight” rating for the company in a report on Wednesday, March 5th. Citigroup increased their target price on BOX from $34.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Raymond James restated an “outperform” rating and set a $38.00 target price (down from $40.00) on shares of BOX in a report on Wednesday, March 5th. Finally, StockNews.com cut 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 issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.