BOX (NYSE:BOX) CFO Sells $227,085.20 in Stock
by Sarita Garza · The Markets DailyBox, Inc. (NYSE:BOX – Get Free Report) CFO Dylan Smith sold 10,280 shares of the firm’s stock in a transaction on Friday, April 10th. The shares were sold at an average price of $22.09, for a total transaction of $227,085.20. Following the completion of the transaction, the chief financial officer directly owned 1,314,971 shares of the company’s stock, valued at approximately $29,047,709.39. This trade represents a 0.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.
BOX Price Performance
BOX stock traded down $0.03 during midday trading on Tuesday, hitting $22.32. The company’s stock had a trading volume of 1,940,819 shares, compared to its average volume of 2,690,587. The company’s fifty day moving average price is $23.85 and its 200 day moving average price is $28.08. Box, Inc. has a twelve month low of $21.34 and a twelve month high of $38.80. The stock has a market capitalization of $3.09 billion, a P/E ratio of 37.83, a PEG ratio of 1.10 and a beta of 0.71.
BOX (NYSE:BOX – Get Free Report) last posted its quarterly earnings data on Tuesday, March 3rd. The software maker reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.16. The company had revenue of $305.88 million during 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 company’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.42 EPS. Equities analysts expect that Box, Inc. will post 0.27 EPS for the current fiscal year.
BOX announced that its Board of Directors has initiated a share repurchase program on Thursday, March 19th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the software maker to reacquire up to 14.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.
Hedge Funds Weigh In On BOX
Large investors have recently made changes to their positions in the company. First Horizon Corp boosted its stake 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 purchasing an additional 496 shares during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of BOX during the fourth quarter worth $26,000. Salomon & Ludwin LLC acquired a new stake in shares of BOX during the third quarter worth $32,000. Geneos Wealth Management Inc. bought a new stake in shares of BOX in the first quarter valued at about $31,000. Finally, Employees Retirement System of Texas acquired a new position in shares of BOX in the third quarter valued at about $35,000. Institutional investors own 86.74% of the company’s stock.
Analysts Set New Price Targets
A number of equities analysts recently weighed in on BOX shares. Morgan Stanley lowered their target price on shares of BOX from $38.00 to $33.00 and set an “equal weight” rating on the stock in a report on Thursday, March 12th. UBS Group decreased their price objective on shares of BOX from $31.00 to $28.00 and set a “hold” rating for the company in a research report on Wednesday, March 4th. William Blair restated a “market perform” rating on shares of BOX in a research note on Monday, March 23rd. Wall Street Zen downgraded shares of BOX from a “strong-buy” rating to a “buy” rating in a research note on Saturday, March 28th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of BOX in a report on Monday, December 29th. Four investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $35.57.
Get Our Latest Analysis on BOX
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.