BOX (NYSE:BOX) Director Sells $412,904.16 in Stock

Box, Inc. (NYSE:BOX) Director Dana Evan sold 17,034 shares of the business’s stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $24.24, for a total value of $412,904.16. Following the completion of the transaction, the director directly owned 113,525 shares in the company, valued at approximately $2,751,846. This trade represents a 13.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

BOX Stock Down 3.3%

BOX traded down $0.79 during trading on Wednesday, hitting $23.22. The company’s stock had a trading volume of 2,147,808 shares, compared to its average volume of 2,681,093. Box, Inc. has a twelve month low of $21.61 and a twelve month high of $38.80. The stock’s fifty day moving average price is $24.12 and its 200-day moving average price is $28.36. The firm has a market capitalization of $3.21 billion, a P/E ratio of 39.35, a PEG ratio of 1.23 and a beta of 0.71.

BOX (NYSE:BOX) last issued its quarterly earnings results on Tuesday, March 3rd. The software maker reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.16. BOX had a negative return on equity of 23.61% and a net margin of 9.80%.The firm had revenue of $305.88 million for the quarter, compared to analyst estimates of $305.64 million. During the same period in the previous year, the firm earned $0.42 earnings per share. The company’s revenue was up 9.4% compared to the same quarter last year. Equities research analysts expect that Box, Inc. will post 0.27 EPS for the current fiscal year.

BOX announced that its board has approved a stock buyback plan on Thursday, March 19th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the software maker to buy up to 14.2% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Mizuho Markets Americas LLC purchased a new stake in shares of BOX in the 3rd quarter valued at about $20,851,000. Capital Fund Management S.A. increased its holdings in shares of BOX by 19.9% in the 3rd quarter. Capital Fund Management S.A. now owns 378,101 shares of the software maker’s stock worth $12,201,000 after purchasing an additional 62,630 shares in the last quarter. First Trust Advisors LP grew its holdings in BOX by 6.2% during the third quarter. First Trust Advisors LP now owns 1,273,546 shares of the software maker’s stock valued at $41,097,000 after purchasing an additional 74,758 shares during the period. Natixis Advisors LLC grew its holdings in BOX by 19.5% during the third quarter. Natixis Advisors LLC now owns 682,315 shares of the software maker’s stock valued at $22,018,000 after purchasing an additional 111,153 shares during the period. Finally, Sivia Capital Partners LLC bought a new stake in BOX during the second quarter valued at about $484,000. Institutional investors own 86.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. DA Davidson reiterated a “buy” rating and set a $45.00 price target on shares of BOX in a report on Friday, March 20th. Morgan Stanley decreased their price target on BOX from $38.00 to $33.00 and set an “equal weight” rating for the company in a report on Thursday, March 12th. Citigroup decreased their price target on BOX from $40.00 to $36.00 and set a “buy” rating for the company in a report on Wednesday, March 4th. UBS Group decreased their price target on BOX from $31.00 to $28.00 and set a “hold” rating for the company in a report on Wednesday, March 4th. Finally, Wall Street Zen downgraded BOX from a “strong-buy” rating to a “buy” rating in a research note on Saturday, March 28th. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $35.57.

BOX Company Profile

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.