BOX (NYSE:BOX) Hits New 52-Week Low Following Insider Selling

Box, Inc. (NYSE:BOX)’s stock price hit a new 52-week low during mid-day trading on Wednesday following insider selling activity. The company traded as low as $23.43 and last traded at $23.6810, with a volume of 506306 shares. The stock had previously closed at $24.49.

Specifically, CFO Dylan C. Smith sold 17,000 shares of the business’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $24.75, for a total transaction of $420,750.00. Following the transaction, the chief financial officer owned 1,311,195 shares in the company, valued at $32,452,076.25. The trade was a 1.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of BOX in a research note on Monday, December 29th. DA Davidson reiterated a “buy” rating and set a $45.00 target price on shares of BOX in a report on Wednesday, December 3rd. Five research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, BOX has a consensus rating of “Hold” and an average target price of $38.00.

BOX Trading Up 1.7%

The firm has a fifty day moving average of $27.99 and a 200 day moving average of $30.57. The company has a market capitalization of $3.32 billion, a P/E ratio of 18.70, a P/E/G ratio of 1.34 and a beta of 0.79.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd increased its position in shares of BOX by 7,130.0% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 723 shares of the software maker’s stock valued at $25,000 after purchasing an additional 713 shares during the last quarter. First Horizon Corp grew its position in BOX by 148.1% during the fourth quarter. First Horizon Corp now owns 831 shares of the software maker’s stock valued at $25,000 after buying an additional 496 shares during the period. Thurston Springer Miller Herd & Titak Inc. bought a new stake in BOX during the fourth quarter valued at approximately $26,000. Geneos Wealth Management Inc. bought a new stake in BOX during the first quarter valued at approximately $31,000. Finally, Salomon & Ludwin LLC purchased a new stake in BOX during the third quarter valued at approximately $32,000. 86.74% of the stock is owned by hedge funds and other institutional investors.

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.