Box, Inc. (NYSE:BOX) CFO Sells $415,350.00 in Stock

Box, Inc. (NYSE:BOX) CFO Dylan C. Smith sold 13,000 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $31.95, for a total transaction of $415,350.00. Following the completion of the sale, the chief financial officer now directly owns 1,440,684 shares in the company, valued at $46,029,853.80. This represents a 0.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

BOX Trading Up 3.0 %

Shares of NYSE BOX opened at $31.23 on Friday. The firm’s 50-day moving average is $32.79 and its 200-day moving average is $32.74. Box, Inc. has a 1 year low of $24.63 and a 1 year high of $35.74. The firm has a market capitalization of $4.49 billion, a PE ratio of 39.03, a price-to-earnings-growth ratio of 4.42 and a beta of 1.00.

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

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on BOX shares. Raymond James reiterated an “outperform” rating and set a $38.00 price target (down from $40.00) on shares of BOX in a research report on Wednesday, March 5th. JPMorgan Chase & Co. decreased their price objective on shares of BOX from $38.00 to $37.00 and set an “overweight” rating for the company in a report on Wednesday, March 5th. Royal Bank of Canada reiterated an “underperform” rating and issued a $21.00 price target on shares of BOX in a research report on Wednesday, December 4th. DA Davidson assumed coverage on BOX in a research report on Wednesday, December 18th. They set a “buy” rating and a $45.00 price objective for the company. Finally, Bank of America started coverage on shares of BOX in a research note on Thursday, December 12th. They set a “buy” rating and a $40.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.60.

Institutional Investors Weigh In On BOX

Several large investors have recently made changes to their positions in BOX. Itau Unibanco Holding S.A. acquired a new stake in shares of BOX in the third quarter valued at approximately $36,000. Smartleaf Asset Management LLC increased its stake 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 purchasing an additional 1,897 shares during the period. TD Waterhouse Canada Inc. increased its position in BOX by 42.4% during the 4th quarter. TD Waterhouse Canada Inc. now owns 2,194 shares of the software maker’s stock worth $69,000 after buying an additional 653 shares during the period. Farther Finance Advisors LLC raised its stake in BOX by 245.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,162 shares of the software maker’s stock worth $71,000 after purchasing an additional 1,536 shares in the last quarter. Finally, SBI Securities Co. Ltd. bought a new stake in shares of BOX in the fourth quarter valued at approximately $132,000. Institutional investors own 86.74% of the company’s stock.

BOX Company Profile

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.