Insider Selling: BOX (NYSE:BOX) COO Sells $313,869.90 in Stock

Box, Inc. (NYSE:BOX) COO Olivia Nottebohm sold 12,470 shares of the stock in a transaction on Friday, May 8th. The shares were sold at an average price of $25.17, for a total value of $313,869.90. Following the completion of the sale, the chief operating officer directly owned 558,739 shares of the company’s stock, valued at $14,063,460.63. The trade was a 2.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

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

• On Friday, May 1st, Olivia Nottebohm sold 5,942 shares of BOX stock. The shares were sold at an average price of $25.00, for a total value of $148,550.00.
• On Tuesday, April 7th, Olivia Nottebohm sold 6,528 shares of BOX stock. The shares were sold at an average price of $24.07, for a total value of $157,128.96.
• On Friday, March 6th, Olivia Nottebohm sold 4,612 shares of BOX stock. The shares were sold at an average price of $25.78, for a total value of $118,897.36.

BOX Trading Down 1.4%

NYSE BOX opened at $23.72 on Thursday. The firm has a market capitalization of $3.28 billion, a P/E ratio of 40.21, a PEG ratio of 1.23 and a beta of 0.71. The business has a fifty day simple moving average of $24.17 and a 200 day simple moving average of $26.88. Box, Inc. has a 12 month low of $21.34 and a 12 month high of $38.80.

BOX (NYSE:BOX) last released its quarterly earnings results on Tuesday, March 3rd. The software maker reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.16. The business had revenue of $305.88 million during the quarter, compared to analyst estimates of $305.64 million. BOX had a negative return on equity of 23.61% and a net margin of 9.80%.BOX’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.42 EPS. As a group, sell-side analysts predict that Box, Inc. will post 0.34 EPS for the current fiscal year.

BOX announced that its board has approved a share repurchase plan on Thursday, March 19th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the software maker to repurchase up to 14.2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research firms recently commented on BOX. Morgan Stanley lowered their price target on BOX from $38.00 to $33.00 and set an “equal weight” rating for the company in a research report on Thursday, March 12th. William Blair restated a “market perform” rating on shares of BOX in a research note on Monday, March 23rd. UBS Group reduced their price objective on BOX from $31.00 to $28.00 and set a “hold” rating for the company in a research note on Wednesday, March 4th. DA Davidson restated a “buy” rating and issued a $45.00 price objective on shares of BOX in a research note on Friday, March 20th. Finally, Wall Street Zen downgraded BOX from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 9th. Four investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, BOX currently has an average rating of “Hold” and a consensus target price of $35.57.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of BOX. Woodline Partners LP grew its stake in BOX by 16.4% in the 1st quarter. Woodline Partners LP now owns 17,800 shares of the software maker’s stock valued at $549,000 after purchasing an additional 2,506 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of BOX by 7.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 477,822 shares of the software maker’s stock worth $14,746,000 after acquiring an additional 32,726 shares during the period. Geneos Wealth Management Inc. bought a new position in shares of BOX during the 1st quarter worth $31,000. Sivia Capital Partners LLC bought a new position in shares of BOX during the 2nd quarter worth $484,000. Finally, Invesco Ltd. grew its stake in shares of BOX by 101.1% during the 2nd quarter. Invesco Ltd. now owns 1,141,603 shares of the software maker’s stock worth $39,009,000 after acquiring an additional 573,817 shares during the period. Institutional investors 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.