BOX (NYSE:BOX) Hits New 1-Year Low on Insider Selling

Box, Inc. (NYSE:BOX) shares hit a new 52-week low during trading on Wednesday following insider selling activity. The stock traded as low as $23.43 and last traded at $23.6810, with a volume of 506306 shares. The stock had previously closed at $24.49.

Specifically, CFO Dylan C. Smith sold 17,000 shares of the business’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $24.75, for a total transaction of $420,750.00. Following the sale, the chief financial officer owned 1,311,195 shares in the company, valued at approximately $32,452,076.25. The trade was a 1.28% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Analysts Set New Price Targets

A number of brokerages recently issued reports on BOX. Weiss Ratings reissued a “hold (c+)” rating on shares of BOX in a research report on Monday, December 29th. DA Davidson reiterated a “buy” rating and set a $45.00 target price on shares of BOX in a report on Wednesday, December 3rd. Five investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, BOX presently has an average rating of “Hold” and an average price target of $38.00.

BOX Stock Up 1.7%

The firm’s fifty day simple moving average is $27.99 and its 200-day simple moving average is $30.57. The firm has a market capitalization of $3.32 billion, a PE ratio of 18.70, a PEG ratio of 1.34 and a beta of 0.79.

Institutional Trading of BOX

A number of institutional investors and hedge funds have recently modified their holdings of BOX. Vanguard Group Inc. lifted its holdings in shares of BOX by 2.8% during the third quarter. Vanguard Group Inc. now owns 18,487,018 shares of the software maker’s stock valued at $596,576,000 after purchasing an additional 497,658 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in BOX by 10.7% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 4,247,092 shares of the software maker’s stock worth $145,123,000 after buying an additional 410,191 shares during the last quarter. Acadian Asset Management LLC lifted its stake in BOX by 36.4% during the 2nd quarter. Acadian Asset Management LLC now owns 4,137,447 shares of the software maker’s stock valued at $141,345,000 after acquiring an additional 1,104,314 shares during the period. Geode Capital Management LLC lifted its stake in BOX by 1.0% during the 2nd quarter. Geode Capital Management LLC now owns 3,346,923 shares of the software maker’s stock valued at $114,379,000 after acquiring an additional 32,884 shares during the period. Finally, Sei Investments Co. boosted its holdings in shares of BOX by 2.9% during the 3rd quarter. Sei Investments Co. now owns 3,316,783 shares of the software maker’s stock valued at $107,033,000 after acquiring an additional 94,289 shares during the last quarter. Institutional investors own 86.74% of the company’s stock.

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.