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

Box, Inc. (NYSE:BOX) CFO Dylan C. Smith sold 13,000 shares of the stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 1,507,550 shares of the company’s stock, valued at $56,126,086.50. This represents a 0.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

BOX Price Performance

Shares of BOX opened at $35.55 on Friday. The company has a 50 day simple moving average of $32.50 and a two-hundred day simple moving average of $32.39. Box, Inc. has a 1 year low of $24.63 and a 1 year high of $38.80. The firm has a market cap of $5.11 billion, a P/E ratio of 44.43, a price-to-earnings-growth ratio of 4.42 and a beta of 0.94.

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

BOX declared that its board has authorized a share repurchase plan on Tuesday, March 4th that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the software maker to purchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on BOX. Wall Street Zen raised shares of BOX from a “buy” rating to a “strong-buy” rating in a report on Wednesday, May 14th. Royal Bank of Canada increased their target price on shares of BOX from $21.00 to $24.00 and gave the stock an “underperform” rating in a report on Wednesday, May 28th. UBS Group raised shares of BOX from a “buy” rating to a “strong-buy” rating and increased their target price for the stock from $37.00 to $40.00 in a report on Wednesday, May 28th. JPMorgan Chase & Co. increased their target price on shares of BOX from $37.00 to $39.00 and gave the stock an “overweight” rating in a report on Wednesday, May 28th. Finally, Raymond James reaffirmed an “outperform” rating and set a $42.00 price objective (up from $38.00) on shares of BOX in a report on Wednesday, May 28th. One analyst has rated the stock with a sell rating, one has given a hold rating, seven have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $38.50.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of BOX. TCTC Holdings LLC grew its holdings in shares of BOX by 115.4% in the first quarter. TCTC Holdings LLC now owns 825 shares of the software maker’s stock valued at $25,000 after purchasing an additional 442 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its holdings in shares of BOX by 332.5% in the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 865 shares of the software maker’s stock valued at $27,000 after purchasing an additional 665 shares in the last quarter. MorganRosel Wealth Management LLC purchased a new position in shares of BOX in the first quarter valued at $31,000. Geneos Wealth Management Inc. purchased a new position in shares of BOX in the first quarter valued at $31,000. Finally, Versant Capital Management Inc boosted its stake in BOX by 519.4% during the first quarter. Versant Capital Management Inc now owns 1,951 shares of the software maker’s stock worth $60,000 after buying an additional 1,636 shares during the period. 86.74% of the stock is owned by hedge funds and other institutional investors.

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.