Box, Inc. (NYSE:BOX) COO Olivia Nottebohm Sells 1,332 Shares

Box, Inc. (NYSE:BOX) COO Olivia Nottebohm sold 1,332 shares of BOX stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $29.01, for a total value of $38,641.32. Following the transaction, the chief operating officer now directly owns 492,545 shares in the company, valued at approximately $14,288,730.45. This trade represents a 0.27 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Olivia Nottebohm also recently made the following trade(s):

• On Tuesday, March 25th, Olivia Nottebohm sold 2,105 shares of BOX stock. The shares were sold at an average price of $30.76, for a total value of $64,749.80.
• On Monday, February 10th, Olivia Nottebohm sold 6,079 shares of BOX stock. The shares were sold at an average price of $34.42, for a total transaction of $209,239.18.
• On Tuesday, January 21st, Olivia Nottebohm sold 6,079 shares of BOX stock. The shares were sold at an average price of $31.91, for a total value of $193,980.89.

BOX Stock Up 6.3 %

Shares of BOX traded up $1.80 during midday trading on Wednesday, hitting $30.22. The company’s stock had a trading volume of 2,978,040 shares, compared to its average volume of 1,816,134. The company’s fifty day simple moving average is $32.37 and its two-hundred day simple moving average is $32.48. The stock has a market capitalization of $4.35 billion, a price-to-earnings ratio of 37.78, a price-to-earnings-growth ratio of 4.42 and a beta of 0.96. Box, Inc. has a one year low of $24.63 and a one year high of $35.74.

BOX declared that its Board of Directors has authorized a share repurchase program on Tuesday, March 4th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the software maker to buy up to 3.1% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On BOX

Several hedge funds and other institutional investors have recently bought and sold shares of BOX. Arrowstreet Capital Limited Partnership raised its position in shares of BOX by 103.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,386,370 shares of the software maker’s stock worth $107,009,000 after purchasing an additional 1,725,197 shares during the period. Norges Bank bought a new stake in shares of BOX in the fourth quarter valued at $29,973,000. Jupiter Asset Management Ltd. purchased a new position in shares of BOX in the fourth quarter valued at $24,234,000. Fisher Asset Management LLC boosted its holdings in BOX by 420.6% in the 4th quarter. Fisher Asset Management LLC now owns 857,498 shares of the software maker’s stock valued at $27,097,000 after purchasing an additional 692,784 shares during the period. Finally, Wells Fargo & Company MN increased its holdings in shares of BOX by 22.9% in the 4th quarter. Wells Fargo & Company MN now owns 1,633,647 shares of the software maker’s stock worth $51,623,000 after buying an additional 304,755 shares during the last quarter. Institutional investors and hedge funds own 86.74% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. decreased their price target on shares of BOX from $38.00 to $37.00 and set an “overweight” rating for the company in a research report on Wednesday, March 5th. StockNews.com downgraded shares of BOX from a “strong-buy” rating to a “buy” rating in a report on Wednesday, January 8th. DA Davidson reiterated a “buy” rating and issued a $45.00 target price on shares of BOX in a report on Wednesday, March 19th. Raymond James reiterated an “outperform” rating and set a $38.00 price target (down from $40.00) on shares of BOX in a report on Wednesday, March 5th. Finally, Royal Bank of Canada restated an “underperform” rating and issued a $21.00 price target on shares of BOX in a research report on Wednesday, March 19th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, BOX currently has a consensus rating of “Moderate Buy” and an average target price of $37.11.

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.