BOX (NYSE:BOX) Hits New 1-Year Low – Here’s What Happened

Box, Inc. (NYSE:BOX)’s stock price reached a new 52-week low during trading on Monday . The company traded as low as $21.89 and last traded at $22.0080, with a volume of 97907 shares traded. The stock had previously closed at $22.87.

Analysts Set New Price Targets

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

BOX Trading Down 4.9%

The company has a market cap of $3.12 billion, a price-to-earnings ratio of 17.56, a P/E/G ratio of 1.31 and a beta of 0.79. The stock’s 50-day moving average is $27.04 and its 200-day moving average is $30.16.

Insider Activity at BOX

In related news, Director Jack R. Lazar sold 2,500 shares of the business’s stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $31.77, for a total value of $79,425.00. Following the completion of the sale, the director directly owned 25,355 shares of the company’s stock, valued at $805,528.35. The trade was a 8.98% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Eli Berkovitch sold 5,163 shares of the company’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $29.96, for a total value of $154,683.48. Following the transaction, the vice president directly owned 123,684 shares in the company, valued at approximately $3,705,572.64. This trade represents a 4.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 82,887 shares of company stock worth $2,399,707. 3.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in BOX. Woodline Partners LP raised its holdings in shares of BOX by 16.4% in the 1st quarter. Woodline Partners LP now owns 17,800 shares of the software maker’s stock worth $549,000 after acquiring an additional 2,506 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of BOX by 7.4% in the first 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 purchasing an additional 32,726 shares during the last quarter. Geneos Wealth Management Inc. bought a new position in shares of BOX in the first quarter valued at approximately $31,000. Sivia Capital Partners LLC bought a new stake in BOX during the second quarter worth $484,000. Finally, Ethic Inc. bought a new stake in shares of BOX in the 2nd quarter worth $211,000. 86.74% of the stock is owned by 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.