Insider Selling: Box, Inc. (NYSE:BOX) CFO Sells $483,990.00 in Stock

Box, Inc. (NYSE:BOX) CFO Dylan C. Smith sold 13,000 shares of BOX stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $37.23, for a total transaction of $483,990.00. Following the transaction, the chief financial officer now directly owns 1,507,550 shares of the company’s stock, valued at approximately $56,126,086.50. This trade represents a 0.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

BOX Stock Down 0.8%

BOX stock opened at $35.55 on Friday. The company has a market cap of $5.11 billion, a PE ratio of 44.43, a price-to-earnings-growth ratio of 4.42 and a beta of 0.94. The business has a 50-day simple moving average of $32.50 and a 200 day simple moving average of $32.38. Box, Inc. has a 52 week low of $24.63 and a 52 week high of $38.80.

BOX (NYSE:BOX) last posted its quarterly earnings results on Tuesday, May 27th. The software maker reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.05. The business had revenue of $276.27 million during the quarter, compared to the consensus estimate of $274.77 million. BOX had a negative return on equity of 17.20% and a net margin of 13.96%. BOX’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.39 earnings per share. On average, analysts anticipate that Box, Inc. will post 0.27 EPS for the current fiscal year.

BOX declared that its Board of Directors has approved a stock buyback program on Tuesday, March 4th that allows the company to buyback $150.00 million in shares. This buyback authorization allows the software maker to reacquire up to 3.1% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research firms have commented on BOX. Raymond James reaffirmed an “outperform” rating and set a $42.00 price objective (up from $38.00) on shares of BOX in a research report on Wednesday, May 28th. UBS Group raised BOX from a “buy” rating to a “strong-buy” rating and lifted their target price for the stock from $37.00 to $40.00 in a report on Wednesday, May 28th. Wall Street Zen raised BOX from a “buy” rating to a “strong-buy” rating in a report on Wednesday, May 14th. Royal Bank of Canada lifted their target price on BOX from $21.00 to $24.00 and gave the stock an “underperform” rating in a report on Wednesday, May 28th. Finally, Morgan Stanley reissued a “positive” rating on shares of BOX in a report on Wednesday, May 28th. One analyst has rated the stock with a sell rating, one has issued a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $38.50.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Blue Oak Capital LLC acquired a new position in BOX during the first quarter worth about $525,000. Strs Ohio acquired a new position in BOX during the first quarter worth about $349,000. Geneos Wealth Management Inc. acquired a new position in BOX during the first quarter worth about $31,000. Intech Investment Management LLC raised its stake in BOX by 29.2% during the first quarter. Intech Investment Management LLC now owns 71,596 shares of the software maker’s stock worth $2,209,000 after acquiring an additional 16,179 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in BOX by 7.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 477,822 shares of the software maker’s stock worth $14,746,000 after acquiring an additional 32,726 shares in the last quarter. Institutional investors and hedge funds own 86.74% of the company’s stock.

About BOX

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.