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

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

BOX Price Performance

BOX opened at $24.02 on Wednesday. The stock has a market cap of $3.32 billion, a P/E ratio of 40.70, a P/E/G ratio of 1.26 and a beta of 0.71. The stock’s 50 day simple moving average is $24.17 and its 200 day simple moving average is $26.95. Box, Inc. has a 1-year low of $21.34 and a 1-year high of $38.80.

BOX (NYSE:BOX) last issued its quarterly earnings data on Tuesday, March 3rd. The software maker reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.16. The firm had revenue of $305.88 million during the quarter, compared to analysts’ expectations of $305.64 million. BOX had a negative return on equity of 23.61% and a net margin of 9.80%.BOX’s revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.42 earnings per share. Research analysts expect that Box, Inc. will post 0.34 EPS for the current fiscal year.

BOX declared that its Board of Directors has authorized a share repurchase plan on Thursday, March 19th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the software maker to reacquire up to 14.2% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on BOX. UBS Group lowered their price objective on shares of BOX from $31.00 to $28.00 and set a “hold” rating on the stock in a research note on Wednesday, March 4th. Morgan Stanley cut their target price on shares of 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 report on Monday, March 23rd. DA Davidson reiterated a “buy” rating and issued a $45.00 price target on shares of BOX in a research report on Friday, March 20th. Finally, Citigroup dropped their price objective on shares of BOX from $40.00 to $36.00 and set a “buy” rating for the company in a research note on Wednesday, March 4th. Four analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, BOX currently has a consensus rating of “Hold” and a consensus target price of $35.57.

Institutional Trading of BOX

A number of large investors have recently made changes to their positions in BOX. Capital Fund Management S.A. lifted its holdings in BOX by 19.9% in the 3rd quarter. Capital Fund Management S.A. now owns 378,101 shares of the software maker’s stock valued at $12,201,000 after purchasing an additional 62,630 shares in the last quarter. Mizuho Markets Americas LLC purchased a new stake in shares of BOX during the third quarter worth about $20,851,000. Sivia Capital Partners LLC purchased a new stake in shares of BOX during the second quarter worth about $484,000. First Trust Advisors LP raised its position in shares of BOX by 6.2% in 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 buying an additional 74,758 shares during the last quarter. Finally, Natixis Advisors LLC lifted its stake in shares of 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 buying an additional 111,153 shares during the period. Institutional investors and hedge funds 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.