BOX (NYSE:BOX) CFO Dylan Smith Sells 23,720 Shares of Stock

Box, Inc. (NYSE:BOX) CFO Dylan Smith sold 23,720 shares of BOX stock in a transaction on Monday, May 11th. The shares were sold at an average price of $24.96, for a total value of $592,051.20. Following the completion of the sale, the chief financial officer directly owned 1,381,049 shares of the company’s stock, valued at $34,470,983.04. This trade represents a 1.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

BOX Price Performance

Shares of NYSE BOX traded down $1.22 during mid-day trading on Monday, hitting $24.50. The company’s stock had a trading volume of 2,170,688 shares, compared to its average volume of 2,185,513. Box, Inc. has a one year low of $21.34 and a one year high of $38.80. The company’s fifty day simple moving average is $24.16 and its 200-day simple moving average is $27.01. The stock has a market cap of $3.39 billion, a price-to-earnings ratio of 41.52, a price-to-earnings-growth ratio of 1.32 and a beta of 0.71.

BOX (NYSE:BOX) last released its quarterly earnings data 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 the consensus estimate of $305.64 million. BOX had a negative return on equity of 23.61% and a net margin of 9.80%.The firm’s revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.42 earnings per share. On average, sell-side analysts predict that Box, Inc. will post 0.34 EPS for the current year.

BOX declared that its Board of Directors has authorized a stock repurchase program on Thursday, March 19th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the software maker to purchase up to 14.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Citigroup lowered their target price on BOX from $40.00 to $36.00 and set a “buy” rating on the stock in a research report on Wednesday, March 4th. Morgan Stanley reduced 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 reaffirmed a “market perform” rating on shares of BOX in a research report on Monday, March 23rd. Wall Street Zen cut BOX from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Finally, UBS Group cut their price objective on BOX from $31.00 to $28.00 and set a “hold” rating for the company in a report on Wednesday, March 4th. Four investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $35.57.

Institutional Trading of BOX

A number of hedge funds have recently modified their holdings of the stock. Woodline Partners LP increased its position in BOX by 16.4% during the first 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 period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position 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 valued at $14,746,000 after buying an additional 32,726 shares in the last quarter. Geneos Wealth Management Inc. acquired a new stake in shares of BOX in the first quarter valued at approximately $31,000. Sivia Capital Partners LLC bought a new stake in shares of BOX in the second quarter valued at approximately $484,000. Finally, Invesco Ltd. boosted its stake in shares of BOX by 101.1% in the second quarter. Invesco Ltd. now owns 1,141,603 shares of the software maker’s stock valued at $39,009,000 after buying an additional 573,817 shares during the period. Institutional investors and hedge funds own 86.74% of the company’s stock.

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.