Box, Inc. (NYSE:BOX) CFO Dylan C. Smith Sells 13,000 Shares

Box, Inc. (NYSE:BOX) 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

Hedge funds have recently modified their holdings of the business. Janney Montgomery Scott LLC raised its holdings in BOX by 5.3% during the fourth quarter. Janney Montgomery Scott LLC now owns 7,807 shares of the software maker’s stock valued at $247,000 after acquiring an additional 391 shares during the period. Farther Finance Advisors LLC grew its position in BOX by 19.3% in the fourth quarter. Farther Finance Advisors LLC now owns 2,579 shares of the software maker’s stock worth $81,000 after acquiring an additional 417 shares in the last quarter. Sanctuary Advisors LLC increased its position in shares of BOX by 1.2% during the 4th quarter. Sanctuary Advisors LLC now owns 35,775 shares of the software maker’s stock valued at $1,189,000 after purchasing an additional 423 shares during the last quarter. Aspiriant LLC raised its stake in shares of BOX by 5.0% in the fourth quarter. Aspiriant LLC now owns 9,048 shares of the software maker’s stock valued at $286,000 after acquiring an additional 427 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its position in BOX by 2.6% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 17,340 shares of the software maker’s stock worth $548,000 after purchasing an additional 442 shares during the period. Institutional investors own 86.74% of the company’s stock.

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.