Dylan C. Smith Sells 13,000 Shares of Box, Inc. (NYSE:BOX) Stock

Box, Inc. (NYSE:BOX) CFO Dylan C. Smith sold 13,000 shares of the business’s stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $31.52, for a total transaction of $409,760.00. Following the sale, the chief financial officer now directly owns 1,520,550 shares of the company’s stock, valued at approximately $47,927,736. This trade represents a 0.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

BOX Stock Down 0.3%

BOX stock opened at $31.61 on Thursday. The stock has a market capitalization of $4.55 billion, a PE ratio of 39.51, a price-to-earnings-growth ratio of 4.42 and a beta of 0.94. Box, Inc. has a twelve month low of $24.63 and a twelve month high of $35.74. The company has a 50 day moving average of $30.66 and a 200-day moving average of $32.17.

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

Analyst Ratings Changes

A number of research firms recently weighed in on BOX. Royal Bank of Canada reissued an “underperform” rating and set a $21.00 price target on shares of BOX in a research note on Wednesday, March 19th. Raymond James reissued an “outperform” rating and set a $38.00 price target (down from $40.00) on shares of BOX in a research note on Wednesday, March 5th. JPMorgan Chase & Co. lowered their target price on shares of BOX from $38.00 to $37.00 and set an “overweight” rating for the company in a research note on Wednesday, March 5th. DA Davidson lowered their target price on shares of BOX from $45.00 to $40.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Finally, Morgan Stanley lowered their target price on shares of BOX from $36.00 to $35.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 16th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.44.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BOX. Arrowstreet Capital Limited Partnership boosted its holdings in shares of BOX by 103.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,386,370 shares of the software maker’s stock valued at $107,009,000 after buying an additional 1,725,197 shares during the period. Norges Bank acquired a new position in shares of BOX in the fourth quarter valued at approximately $29,973,000. Jupiter Asset Management Ltd. acquired a new position in shares of BOX in the fourth quarter valued at approximately $24,234,000. Fisher Asset Management LLC boosted its holdings in shares of BOX by 420.6% in the fourth quarter. Fisher Asset Management LLC now owns 857,498 shares of the software maker’s stock valued at $27,097,000 after buying an additional 692,784 shares during the period. Finally, Sunriver Management LLC boosted its holdings in shares of BOX by 62.9% in the first quarter. Sunriver Management LLC now owns 1,546,862 shares of the software maker’s stock valued at $47,736,000 after buying an additional 597,410 shares during the period. 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.