Box, Inc. (NYSE:BOX) VP Sells $173,259.66 in Stock

Box, Inc. (NYSE:BOX) VP Eli Berkovitch sold 5,651 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $30.66, for a total transaction of $173,259.66. Following the completion of the transaction, the vice president now directly owns 124,672 shares in the company, valued at approximately $3,822,443.52. The trade was a 4.34 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

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

BOX Price Performance

NYSE:BOX opened at $31.12 on Friday. The firm has a market capitalization of $4.47 billion, a price-to-earnings ratio of 38.90, a PEG ratio of 4.42 and a beta of 1.00. The business has a 50 day simple moving average of $32.69 and a 200-day simple moving average of $32.65. Box, Inc. has a 1 year low of $24.63 and a 1 year high of $35.74.

BOX announced that its Board of Directors has initiated a share repurchase program on Tuesday, March 4th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the software maker to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Royal Bank of Canada reissued an “underperform” rating and set a $21.00 price target on shares of BOX in a report on Wednesday, March 19th. Raymond James reissued an “outperform” rating and issued a $38.00 target price (down from $40.00) on shares of BOX in a report on Wednesday, March 5th. Citigroup lifted their price target on shares of BOX from $34.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. JPMorgan Chase & Co. reduced their price objective on shares of BOX from $38.00 to $37.00 and set an “overweight” rating for the company in a research note on Wednesday, March 5th. Finally, UBS Group lifted their target price 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 equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat, BOX currently has an average rating of “Moderate Buy” and a consensus price target of $37.11.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Itau Unibanco Holding S.A. purchased a new stake in BOX in the 3rd quarter worth about $36,000. Smartleaf Asset Management LLC grew its stake in shares of BOX by 715.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,162 shares of the software maker’s stock valued at $69,000 after buying an additional 1,897 shares during the last quarter. TD Waterhouse Canada Inc. raised its holdings in shares of BOX by 42.4% in the fourth 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 period. Farther Finance Advisors LLC lifted its stake in shares of BOX by 19.3% during the 4th 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 during the last quarter. Finally, SBI Securities Co. Ltd. purchased a new position in BOX during the 4th quarter valued at $132,000. Institutional investors own 86.74% of the company’s stock.

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.