BOX (NYSE:BOX) VP Sells $584,325.00 in Stock
by Sarita Garza · The Markets DailyBox, Inc. (NYSE:BOX – Get Free Report) VP Eli Berkovitch sold 24,500 shares of the business’s stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $23.85, for a total value of $584,325.00. Following the transaction, the vice president owned 95,516 shares of the company’s stock, valued at $2,278,056.60. This represents a 20.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
BOX Stock Down 3.3%
BOX stock traded down $0.79 during trading on Wednesday, reaching $23.22. 2,147,808 shares of the company’s stock were exchanged, compared to its average volume of 2,423,793. Box, Inc. has a 1-year low of $21.61 and a 1-year high of $38.80. The company’s fifty day moving average price is $24.06 and its 200-day moving average price is $28.32. The firm has a market cap of $3.21 billion, a PE ratio of 39.35, a P/E/G ratio of 1.23 and a beta of 0.71.
BOX (NYSE:BOX – Get Free Report) last announced its quarterly earnings results on Tuesday, March 3rd. The software maker reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $305.64 million. During the same quarter in the previous year, the firm posted $0.42 EPS. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. As a group, sell-side analysts expect that Box, Inc. will post 0.27 earnings per share for the current fiscal year.
BOX declared that its Board of Directors has initiated a share 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 buy up to 14.2% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its stock is undervalued.
Analysts Set New Price Targets
A number of brokerages have issued reports on BOX. Morgan Stanley reduced their price target on BOX from $38.00 to $33.00 and set an “equal weight” rating for the company in a research report on Thursday, March 12th. Weiss Ratings reissued a “hold (c+)” rating on shares of BOX in a research note on Monday, December 29th. DA Davidson reissued a “buy” rating and issued a $45.00 price objective on shares of BOX in a research note on Friday, March 20th. Citigroup dropped their price objective on BOX from $40.00 to $36.00 and set a “buy” rating on the stock in a research note on Wednesday, March 4th. Finally, William Blair reissued a “market perform” rating on shares of BOX in a research note on Monday, March 23rd. Four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, BOX presently has a consensus rating of “Hold” and an average target price of $35.57.
Read Our Latest Research Report on BOX
Institutional Trading of BOX
A number of hedge funds and other institutional investors have recently modified their holdings of BOX. Mizuho Markets Americas LLC acquired a new stake in shares of BOX during the third quarter worth $20,851,000. Capital Fund Management S.A. raised its position in shares of BOX by 19.9% during the third quarter. Capital Fund Management S.A. now owns 378,101 shares of the software maker’s stock worth $12,201,000 after purchasing an additional 62,630 shares during the period. First Trust Advisors LP raised its position in shares of BOX by 6.2% during the third quarter. First Trust Advisors LP now owns 1,273,546 shares of the software maker’s stock worth $41,097,000 after purchasing an additional 74,758 shares during the period. Natixis Advisors LLC raised its position in shares of BOX by 19.5% during the third quarter. Natixis Advisors LLC now owns 682,315 shares of the software maker’s stock worth $22,018,000 after purchasing an additional 111,153 shares during the period. Finally, Sivia Capital Partners LLC acquired a new stake in shares of BOX during the second quarter worth $484,000. Institutional investors own 86.74% of the company’s stock.
About BOX
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.