Insider Selling: BOX (NYSE:BOX) CFO Sells $592,051.20 in Stock

Box, Inc. (NYSE:BOX) CFO Dylan Smith sold 23,720 shares of BOX stock in a transaction on Monday, May 11th. The shares were sold at an average price of $24.96, for a total transaction of $592,051.20. Following the completion of the transaction, the chief financial officer owned 1,381,049 shares in the company, valued at approximately $34,470,983.04. This trade represents a 1.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

BOX Stock Performance

Shares of BOX stock opened at $23.72 on Thursday. The company has a market cap of $3.28 billion, a P/E ratio of 40.21, a PEG ratio of 1.23 and a beta of 0.71. Box, Inc. has a one year low of $21.34 and a one year high of $38.80. The firm has a fifty day moving average of $24.17 and a two-hundred day moving average of $26.88.

BOX (NYSE:BOX) last issued its earnings results on Tuesday, March 3rd. The software maker reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.16. The business had revenue of $305.88 million for the quarter, compared to the consensus estimate of $305.64 million. BOX had a net margin of 9.80% and a negative return on equity of 23.61%. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.42 earnings per share. As a group, equities analysts predict that Box, Inc. will post 0.34 earnings per share for the current year.

BOX announced that its Board of Directors has authorized a share buyback plan on Thursday, March 19th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the software maker to reacquire up to 14.2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on BOX. Citigroup cut their target price on BOX from $40.00 to $36.00 and set a “buy” rating for the company in a research note on Wednesday, March 4th. William Blair reaffirmed a “market perform” rating on shares of BOX in a report on Monday, March 23rd. UBS Group cut their price objective on BOX from $31.00 to $28.00 and set a “hold” rating for the company in a research report on Wednesday, March 4th. Morgan Stanley reduced their target price on BOX from $38.00 to $33.00 and set an “equal weight” rating for the company in a report on Thursday, March 12th. Finally, Weiss Ratings lowered shares of BOX from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday. Four research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, BOX currently has a consensus rating of “Hold” and a consensus target price of $35.57.

Institutional Investors Weigh In On BOX

Institutional investors and hedge funds have recently modified their holdings of the company. First Horizon Corp increased its position in BOX by 148.1% during the fourth quarter. First Horizon Corp now owns 831 shares of the software maker’s stock worth $25,000 after buying an additional 496 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of BOX during the 4th quarter worth about $26,000. Geneos Wealth Management Inc. acquired a new position in shares of BOX in the first quarter valued at approximately $31,000. Employees Retirement System of Texas acquired a new position in shares of BOX in the third quarter valued at approximately $35,000. Finally, CIBC Private Wealth Group LLC lifted its stake in shares of BOX by 1,778.1% during the third quarter. CIBC Private Wealth Group LLC now owns 1,202 shares of the software maker’s stock valued at $39,000 after buying an additional 1,138 shares during the period. Institutional investors and hedge funds 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.