BOX (NYSE:BOX) Sets New 12-Month Low – Here’s What Happened

Box, Inc. (NYSE:BOX)’s stock price reached a new 52-week low on Wednesday . The stock traded as low as $23.70 and last traded at $24.27, with a volume of 6464490 shares. The stock had previously closed at $25.88.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Weiss Ratings reissued a “hold (c+)” rating on shares of BOX in a report on Monday, December 29th. DA Davidson reaffirmed a “buy” rating and set a $45.00 price target on shares of BOX in a research report on Wednesday, December 3rd. Five equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, BOX has an average rating of “Hold” and a consensus price target of $38.00.

BOX Stock Down 6.2%

The stock has a market cap of $3.48 billion, a P/E ratio of 19.57, a price-to-earnings-growth ratio of 1.48 and a beta of 0.79. The firm has a 50 day simple moving average of $28.86 and a 200-day simple moving average of $30.98.

Insider Transactions at BOX

In other news, CFO Dylan C. Smith sold 17,000 shares of the stock in a transaction dated Friday, January 9th. The shares were sold at an average price of $29.57, for a total value of $502,690.00. Following the transaction, the chief financial officer directly owned 1,328,195 shares of the company’s stock, valued at $39,274,726.15. This represents a 1.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Eli Berkovitch sold 5,163 shares of the company’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $29.96, for a total transaction of $154,683.48. Following the completion of the transaction, the vice president owned 123,684 shares in the company, valued at approximately $3,705,572.64. This trade represents a 4.01% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 87,499 shares of company stock valued at $2,656,663. Corporate insiders own 3.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Acadian Asset Management LLC grew its position in BOX by 36.4% during the second quarter. Acadian Asset Management LLC now owns 4,137,447 shares of the software maker’s stock worth $141,345,000 after buying an additional 1,104,314 shares in the last quarter. Norges Bank bought a new position in shares of BOX in the second quarter worth $33,042,000. Qube Research & Technologies Ltd raised 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 acquired a new position in BOX in the second quarter valued at about $22,626,000. Finally, Mizuho Markets Americas LLC bought a new stake in BOX during the third quarter worth about $20,851,000. Institutional investors and hedge funds own 86.74% of the company’s stock.

About BOX

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.