BOX (NYSE:BOX) CFO Sells $592,051.20 in Stock

Box, Inc. (NYSE:BOX) CFO Dylan Smith sold 23,720 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $24.96, for a total transaction of $592,051.20. Following the sale, the chief financial officer directly owned 1,381,049 shares of the company’s stock, valued at approximately $34,470,983.04. This trade represents a 1.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

BOX Trading Down 4.8%

NYSE BOX traded down $1.22 on Monday, hitting $24.50. 2,170,688 shares of the company’s stock were exchanged, compared to its average volume of 2,185,513. The stock has a 50-day moving average of $24.16 and a 200-day moving average of $27.01. Box, Inc. has a 52 week low of $21.34 and a 52 week high of $38.80. The stock has a market cap of $3.39 billion, a price-to-earnings ratio of 41.52, a P/E/G ratio of 1.32 and a beta of 0.71.

BOX (NYSE:BOX) last issued its quarterly earnings results on Tuesday, March 3rd. The software maker reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.16. BOX had a negative return on equity of 23.61% and a net margin of 9.80%.The company had revenue of $305.88 million for the quarter, compared to analyst estimates of $305.64 million. During the same quarter last year, the company posted $0.42 EPS. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. As a group, analysts predict that Box, Inc. will post 0.34 earnings per share for the current year.

BOX declared that its Board of Directors has approved a stock buyback program on Thursday, March 19th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the software maker to reacquire up to 14.2% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on BOX shares. Citigroup decreased their price target on shares of BOX from $40.00 to $36.00 and set a “buy” rating on the stock in a report on Wednesday, March 4th. DA Davidson reiterated a “buy” rating and set a $45.00 price target on shares of BOX in a report on Friday, March 20th. William Blair reiterated a “market perform” rating on shares of BOX in a research note on Monday, March 23rd. Morgan Stanley cut their price objective on BOX from $38.00 to $33.00 and set an “equal weight” rating on the stock in a report on Thursday, March 12th. Finally, UBS Group reduced their price objective on BOX from $31.00 to $28.00 and set a “hold” rating on the stock in a research report on Wednesday, March 4th. Four equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $35.57.

Hedge Funds Weigh In On BOX

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. First Horizon Corp grew its stake in shares of BOX by 148.1% in the fourth quarter. First Horizon Corp now owns 831 shares of the software maker’s stock worth $25,000 after purchasing an additional 496 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in BOX during the 4th quarter worth $26,000. Geneos Wealth Management Inc. acquired a new position in BOX during the 1st quarter worth about $31,000. Employees Retirement System of Texas acquired a new position in BOX during the 3rd quarter worth about $35,000. Finally, CIBC Private Wealth Group LLC grew its position in shares of BOX by 1,778.1% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 1,202 shares of the software maker’s stock valued at $39,000 after buying an additional 1,138 shares during the last quarter. 86.74% of the stock is currently owned by institutional investors and hedge funds.

BOX Company Profile

Box, Inc is a leading provider of cloud content management and file sharing solutions designed to support enterprises in securely managing, accessing and collaborating on digital content from anywhere. The company offers a unified platform that enables organizations to store, share and automate workflows across various departments, enhancing productivity and ensuring governance over sensitive information. Box’s services are tailored to meet the needs of industries such as healthcare, financial services, government and media, where compliance and data security are paramount.

The core offerings of Box include its Content Cloud platform, which provides content collaboration, workflow automation, data classification and secure file sharing.