Box, Inc. (NYSE:BOX) VP Sells $173,259.66 in Stock

Box, Inc. (NYSE:BOX) VP Eli Berkovitch sold 5,651 shares of BOX stock in a transaction on Monday, March 24th. The stock was sold at an average price of $30.66, for a total value of $173,259.66. Following the transaction, the vice president now owns 124,672 shares in the company, valued at approximately $3,822,443.52. This represents a 4.34 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• On Friday, January 10th, Eli Berkovitch sold 4,791 shares of BOX stock. The stock was sold at an average price of $31.06, for a total transaction of $148,808.46.

BOX Stock Up 0.8 %

NYSE BOX traded up $0.24 during trading on Wednesday, hitting $30.99. The stock had a trading volume of 1,402,563 shares, compared to its average volume of 1,728,866. The company has a market capitalization of $4.46 billion, a PE ratio of 38.74, a PEG ratio of 4.42 and a beta of 1.00. The firm has a 50 day moving average price of $32.71 and a 200 day moving average price of $32.68. Box, Inc. has a twelve month low of $24.63 and a twelve month high of $35.74.

BOX announced that its board has initiated a share buyback program on Tuesday, March 4th that allows the company to buyback $150.00 million in outstanding shares. This buyback authorization allows the software maker to purchase up to 3.1% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

BOX has been the topic of several recent analyst reports. Bank of America initiated coverage on shares of BOX in a report on Thursday, December 12th. They issued a “buy” rating and a $40.00 target price on the stock. Citigroup upped their price objective on BOX from $34.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. JPMorgan Chase & Co. reduced their target price on BOX from $38.00 to $37.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 5th. StockNews.com lowered BOX from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, January 8th. Finally, Royal Bank of Canada reissued an “underperform” rating and set a $21.00 price objective on shares of BOX in a research report on Wednesday, March 19th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, BOX has a consensus rating of “Moderate Buy” and an average target price of $37.11.

Hedge Funds Weigh In On BOX

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BOX. Earnest Partners LLC increased its position in shares of BOX by 2.1% during the fourth quarter. Earnest Partners LLC now owns 7,896,931 shares of the software maker’s stock worth $249,543,000 after acquiring an additional 162,437 shares during the period. State Street Corp grew its stake in BOX by 1.2% during the 3rd quarter. State Street Corp now owns 5,623,032 shares of the software maker’s stock worth $184,042,000 after purchasing an additional 69,107 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in BOX by 103.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,386,370 shares of the software maker’s stock worth $107,009,000 after purchasing an additional 1,725,197 shares during the period. Sei Investments Co. increased its holdings in BOX by 8.4% during the 4th quarter. Sei Investments Co. now owns 3,286,619 shares of the software maker’s stock worth $103,857,000 after purchasing an additional 255,623 shares during the period. Finally, Geode Capital Management LLC raised its position in BOX by 0.4% in the 3rd quarter. Geode Capital Management LLC now owns 3,249,823 shares of the software maker’s stock valued at $106,387,000 after purchasing an additional 13,028 shares in the last quarter. Hedge funds and other 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.