BOX (NYSE:BOX) Sets New 12-Month Low – Here’s Why

Box, Inc. (NYSE:BOX)’s share price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $23.43 and last traded at $23.6810, with a volume of 506306 shares trading hands. The stock had previously closed at $24.49.

Analyst Ratings Changes

BOX has been the subject of several analyst reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of BOX in a research note on Monday, December 29th. DA Davidson reiterated a “buy” rating and issued a $45.00 price target on shares of BOX in a research report on Wednesday, December 3rd. Five investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $38.00.

BOX Price Performance

The firm’s 50-day simple moving average is $28.34 and its 200 day simple moving average is $30.68. The firm has a market capitalization of $3.31 billion, a price-to-earnings ratio of 18.64, a P/E/G ratio of 1.41 and a beta of 0.79.

Insider Activity

In other news, Director Jack R. Lazar sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $31.77, for a total value of $79,425.00. Following the sale, the director directly owned 25,355 shares in the company, valued at approximately $805,528.35. This trade represents a 8.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Aaron Levie sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $30.53, for a total transaction of $457,950.00. Following the transaction, the chief executive officer owned 2,922,030 shares of the company’s stock, valued at approximately $89,209,575.90. This represents a 0.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 65,887 shares of company stock valued at $1,978,957. Corporate insiders own 3.90% of the company’s stock.

Institutional Investors Weigh In On BOX

A number of hedge funds and other institutional investors have recently bought and sold shares of BOX. Caitong International Asset Management Co. Ltd raised its position in BOX by 7,130.0% in the second quarter. Caitong International Asset Management Co. Ltd now owns 723 shares of the software maker’s stock valued at $25,000 after purchasing an additional 713 shares during the last quarter. First Horizon Corp raised its holdings in BOX by 148.1% in the 4th quarter. First Horizon Corp now owns 831 shares of the software maker’s stock valued at $25,000 after buying an additional 496 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in BOX in the 4th quarter valued at approximately $26,000. Geneos Wealth Management Inc. acquired a new stake in BOX during the 1st quarter worth approximately $31,000. Finally, Salomon & Ludwin LLC bought a new stake in BOX during the 3rd quarter worth approximately $32,000. Institutional investors own 86.74% of the company’s stock.

About BOX

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.