BOX (NYSE:BOX) Hits New 1-Year Low – Here’s What Happened
by Sarita Garza · The Markets DailyBox, Inc. (NYSE:BOX – Get Free Report)’s stock price hit a new 52-week low during trading on Wednesday . The company traded as low as $23.43 and last traded at $23.6810, with a volume of 506306 shares. The stock had previously closed at $24.49.
Analyst Ratings Changes
A number of research firms recently weighed in on BOX. Weiss Ratings restated a “hold (c+)” rating on shares of BOX in a report on Monday, December 29th. DA Davidson reissued a “buy” rating and issued a $45.00 price target on shares of BOX in a research note on Wednesday, December 3rd. Five analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, BOX presently has a consensus rating of “Hold” and an average price target of $38.00.
BOX Trading Down 5.6%
The firm has a 50-day moving average of $28.34 and a 200 day moving average of $30.68. The company has a market cap of $3.31 billion, a P/E ratio of 18.64, a price-to-earnings-growth 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 transaction of $79,425.00. Following the completion of the sale, the director owned 25,355 shares of the company’s stock, valued at $805,528.35. This trade represents a 8.98% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Dylan C. Smith sold 17,000 shares of BOX stock in a transaction on Friday, January 9th. The shares were sold at an average price of $29.57, for a total transaction of $502,690.00. Following the completion of the sale, the chief financial officer owned 1,328,195 shares of the company’s stock, valued at $39,274,726.15. This represents a 1.26% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 65,887 shares of company stock worth $1,978,957. Company insiders own 3.90% of the company’s stock.
Hedge Funds Weigh In On BOX
Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in BOX by 2.8% in the 3rd quarter. Vanguard Group Inc. now owns 18,487,018 shares of the software maker’s stock valued at $596,576,000 after buying an additional 497,658 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in BOX by 10.7% in the second quarter. Arrowstreet Capital Limited Partnership now owns 4,247,092 shares of the software maker’s stock valued at $145,123,000 after acquiring an additional 410,191 shares during the period. Acadian Asset Management LLC increased its holdings in shares of BOX by 36.4% during the second quarter. Acadian Asset Management LLC now owns 4,137,447 shares of the software maker’s stock valued at $141,345,000 after acquiring an additional 1,104,314 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of BOX by 1.0% during the second quarter. Geode Capital Management LLC now owns 3,346,923 shares of the software maker’s stock valued at $114,379,000 after acquiring an additional 32,884 shares in the last quarter. Finally, Sei Investments Co. raised its position in shares of BOX by 2.9% during the third quarter. Sei Investments Co. now owns 3,316,783 shares of the software maker’s stock worth $107,033,000 after purchasing an additional 94,289 shares during the period. Institutional investors 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.