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

Box, Inc. (NYSE:BOX) CFO Dylan C. Smith sold 13,000 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $31.95, for a total value of $415,350.00. Following the completion of the transaction, the chief financial officer now directly owns 1,440,684 shares of the company’s stock, valued at $46,029,853.80. This represents a 0.89 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

BOX Trading Down 1.5 %

Shares of BOX opened at $30.93 on Thursday. The business’s fifty day simple moving average is $32.81 and its two-hundred day simple moving average is $32.74. Box, Inc. has a 12 month low of $24.63 and a 12 month high of $35.74. The company has a market cap of $4.44 billion, a price-to-earnings ratio of 38.66, a P/E/G ratio of 4.42 and a beta of 1.00.

BOX announced that its Board of Directors has approved a stock repurchase plan on Tuesday, March 4th that allows the company to buyback $150.00 million in outstanding shares. This buyback authorization allows the software maker to repurchase up to 3.1% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

Several analysts recently weighed in on BOX shares. Morgan Stanley upped their price target on BOX from $33.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 4th. Citigroup upped their price target on BOX from $34.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. UBS Group upped their price target on BOX from $34.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Royal Bank of Canada restated an “underperform” rating and issued a $21.00 price target on shares of BOX in a research note on Wednesday, December 4th. Finally, Raymond James restated an “outperform” rating and issued a $38.00 price target (down previously from $40.00) on shares of BOX in a research note on Wednesday, March 5th. One analyst has rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, BOX currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.60.

Institutional Trading of BOX

Institutional investors have recently added to or reduced their stakes in the business. Itau Unibanco Holding S.A. purchased a new position in shares of BOX in the 3rd quarter worth $36,000. Farther Finance Advisors LLC boosted its stake in shares of BOX by 245.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,162 shares of the software maker’s stock worth $71,000 after buying an additional 1,536 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of BOX by 715.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,162 shares of the software maker’s stock worth $69,000 after buying an additional 1,897 shares during the last quarter. TD Waterhouse Canada Inc. boosted its stake in shares of BOX by 42.4% in the 4th quarter. TD Waterhouse Canada Inc. now owns 2,194 shares of the software maker’s stock worth $69,000 after buying an additional 653 shares during the last quarter. Finally, SBI Securities Co. Ltd. purchased a new position in shares of BOX in the 4th quarter worth $132,000. 86.74% of the stock is currently owned by hedge funds and other institutional investors.

About BOX

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.