Box, Inc. (NYSE:BOX – Get Free Report) CFO Dylan C. Smith sold 13,000 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $31.95, for a total transaction of $415,350.00. Following the sale, the chief financial officer now directly owns 1,440,684 shares in the company, valued at $46,029,853.80. The trade was a 0.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
BOX Stock Up 3.0 %
Shares of BOX opened at $31.23 on Friday. The company has a market capitalization of $4.49 billion, a P/E ratio of 39.03, a price-to-earnings-growth ratio of 4.42 and a beta of 1.00. The firm has a 50 day moving average of $32.79 and a 200 day moving average of $32.74. Box, Inc. has a twelve month low of $24.63 and a twelve month high of $35.74.
BOX announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, March 4th that allows the company to buyback $150.00 million in shares. This buyback authorization allows the software maker to purchase up to 3.1% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.
Institutional Investors Weigh In On BOX
Wall Street Analyst Weigh In
BOX has been the topic of several research analyst reports. UBS Group upped their target price on BOX from $34.00 to $42.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. DA Davidson started coverage on shares of BOX in a research report on Wednesday, December 18th. They issued a “buy” rating and a $45.00 price target on the stock. Bank of America began coverage on shares of BOX in a research note on Thursday, December 12th. They issued a “buy” rating and a $40.00 target price for the company. Royal Bank of Canada reaffirmed an “underperform” rating and set a $21.00 price target on shares of BOX in a research report on Wednesday, December 4th. Finally, StockNews.com lowered shares of BOX from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $36.60.
BOX Company Profile
Box, Inc engages in the provision of an enterprise content platform that enables organizations to securely manage enterprise content while allowing easy, secure access and sharing of this content from anywhere, on any device. Its products include cloud content management, IT and admin controls, Box Governance, Box Zones, Box Relay, Box Shuttle, and Box KeySafe.
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