Insider Selling: BOX (NYSE:BOX) CEO Sells $370,800.00 in Stock

Box, Inc. (NYSE:BOX) CEO Aaron Levie sold 15,000 shares of BOX stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $24.72, for a total transaction of $370,800.00. Following the sale, the chief executive officer owned 2,907,030 shares of the company’s stock, valued at approximately $71,861,781.60. The trade was a 0.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

BOX Price Performance

Shares of NYSE:BOX opened at $24.88 on Friday. The company’s fifty day moving average price is $25.35 and its 200-day moving average price is $29.42. The firm has a market capitalization of $3.56 billion, a price-to-earnings ratio of 42.16, a PEG ratio of 1.22 and a beta of 0.80. Box, Inc. has a one year low of $21.61 and a one year high of $38.80.

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

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. 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. Weiss Ratings reissued a “hold (c+)” rating on shares of BOX in a report on Monday, December 29th. Wall Street Zen upgraded BOX from a “hold” rating to a “strong-buy” rating in a research report on Saturday. Morgan Stanley cut their target price on BOX from $38.00 to $33.00 and set an “equal weight” rating for the company in a research note on Thursday. Finally, DA Davidson reissued a “buy” rating and set a $45.00 price target on shares of BOX in a research note on Wednesday, December 3rd. Four analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, BOX has an average rating of “Hold” and a consensus target price of $35.57.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. First Horizon Corp increased its holdings in shares of BOX by 148.1% in the fourth quarter. First Horizon Corp now owns 831 shares of the software maker’s stock worth $25,000 after buying an additional 496 shares during the period. Thurston Springer Miller Herd & Titak Inc. bought a new position in BOX during the 4th quarter worth approximately $26,000. Geneos Wealth Management Inc. purchased a new position in BOX in the 1st quarter worth approximately $31,000. Salomon & Ludwin LLC purchased a new position in BOX in the 3rd quarter worth approximately $32,000. Finally, Employees Retirement System of Texas bought a new stake in BOX in the third quarter valued at approximately $35,000. 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.