Eli Berkovitch Sells 2,750 Shares of Box, Inc. (NYSE:BOX) Stock

Box, Inc. (NYSE:BOX) VP Eli Berkovitch sold 2,750 shares of the stock in a transaction that occurred on Thursday, April 10th. The stock was sold at an average price of $29.58, for a total transaction of $81,345.00. Following the transaction, the vice president now owns 121,922 shares in the company, valued at approximately $3,606,452.76. The trade was a 2.21 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Monday, March 24th, Eli Berkovitch sold 5,651 shares of BOX stock. The shares were sold at an average price of $30.66, for a total value of $173,259.66.

BOX Price Performance

BOX stock opened at $29.94 on Wednesday. The business has a 50 day moving average of $31.93 and a 200-day moving average of $32.38. The company has a market capitalization of $4.30 billion, a P/E ratio of 37.42, a P/E/G ratio of 4.42 and a beta of 0.96. Box, Inc. has a 1 year low of $24.63 and a 1 year high of $35.74.

BOX declared that its board has initiated a stock buyback plan on Tuesday, March 4th that allows the company to buyback $150.00 million in shares. This buyback authorization allows the software maker to reacquire up to 3.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. 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. Royal Bank of Canada reaffirmed an “underperform” rating and issued a $21.00 target price on shares of BOX in a report on Wednesday, March 19th. DA Davidson lowered their price target on BOX from $45.00 to $40.00 and set a “buy” rating for the company in a report on Monday. StockNews.com lowered BOX from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, January 8th. Finally, JPMorgan Chase & Co. lowered their target price on BOX from $38.00 to $37.00 and set an “overweight” rating for the company in a research note on Wednesday, March 5th. One analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $36.56.

Hedge Funds Weigh In On BOX

Hedge funds have recently modified their holdings of the business. Thurston Springer Miller Herd & Titak Inc. increased its holdings in BOX by 332.5% in the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 865 shares of the software maker’s stock valued at $27,000 after purchasing an additional 665 shares during the period. Versant Capital Management Inc grew its position in shares of BOX by 519.4% in the 1st quarter. Versant Capital Management Inc now owns 1,951 shares of the software maker’s stock valued at $60,000 after buying an additional 1,636 shares during the last quarter. Smartleaf Asset Management LLC raised its position 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 worth $69,000 after acquiring an additional 1,897 shares during the last quarter. TD Waterhouse Canada Inc. lifted its stake 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 acquiring an additional 653 shares during the period. Finally, Farther Finance Advisors LLC boosted its holdings in BOX by 19.3% in the fourth quarter. Farther Finance Advisors LLC now owns 2,579 shares of the software maker’s stock valued at $81,000 after acquiring an additional 417 shares during the last quarter. Institutional investors and hedge funds 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.