Box, Inc. (NYSE:BOX) VP Eli Berkovitch Sells 5,651 Shares

Box, Inc. (NYSE:BOX) VP Eli Berkovitch sold 5,651 shares of the firm’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $30.66, for a total value of $173,259.66. Following the completion of the sale, the vice president now owns 124,672 shares in the company, valued at approximately $3,822,443.52. This represents a 4.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Eli Berkovitch also recently made the following trade(s):

• On Friday, January 10th, Eli Berkovitch sold 4,791 shares of BOX stock. The shares were sold at an average price of $31.06, for a total value of $148,808.46.

BOX Price Performance

Shares of NYSE:BOX traded up $0.24 on Wednesday, reaching $30.99. The company’s stock had a trading volume of 1,402,563 shares, compared to its average volume of 1,728,866. Box, Inc. has a 52-week low of $24.63 and a 52-week high of $35.74. The stock has a market capitalization of $4.46 billion, a P/E ratio of 38.74, a PEG ratio of 4.42 and a beta of 1.00. The stock’s 50-day moving average is $32.71 and its two-hundred day moving average is $32.68.

BOX announced that its board has authorized a share repurchase program on Tuesday, March 4th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the software maker to purchase up to 3.1% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

BOX has been the subject of a number of research analyst reports. Raymond James reaffirmed an “outperform” rating and issued a $38.00 price target (down from $40.00) on shares of BOX in a report on Wednesday, March 5th. Royal Bank of Canada restated an “underperform” rating and set a $21.00 price objective on shares of BOX in a research report on Wednesday, March 19th. JPMorgan Chase & Co. dropped their target price on shares of BOX from $38.00 to $37.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 5th. Morgan Stanley lifted their price target on shares of BOX from $33.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 4th. Finally, UBS Group upped their price objective on shares of BOX from $34.00 to $42.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, BOX presently has an average rating of “Moderate Buy” and a consensus price target of $37.11.

Institutional Trading of BOX

A number of hedge funds have recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC raised its stake in shares of BOX by 10.5% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 7,127 shares of the software maker’s stock worth $225,000 after purchasing an additional 679 shares during the last quarter. Mackenzie Financial Corp increased its stake in BOX by 28.2% in the 4th quarter. Mackenzie Financial Corp now owns 341,606 shares of the software maker’s stock valued at $10,795,000 after buying an additional 75,041 shares during the period. Vise Technologies Inc. raised its position in BOX by 38.5% during the 4th quarter. Vise Technologies Inc. now owns 8,540 shares of the software maker’s stock worth $270,000 after buying an additional 2,372 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in BOX by 20.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 445,096 shares of the software maker’s stock worth $14,065,000 after buying an additional 75,098 shares during the last quarter. Finally, Woodline Partners LP lifted its stake in shares of BOX by 63.3% in the 4th quarter. Woodline Partners LP now owns 15,294 shares of the software maker’s stock worth $483,000 after acquiring an additional 5,930 shares during the period. 86.74% of the stock is owned by institutional investors and hedge funds.

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.