Box, Inc. (NYSE:BOX) Director Daniel J. Levin Sells 37,499 Shares

Box, Inc. (NYSE:BOX - Get Free Report) Director Daniel J. Levin sold 37,499 shares of BOX stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $36.74, for a total value of $1,377,713.26. Following the completion of the sale, the director now owns 51,530 shares in the company, valued at $1,893,212.20. This represents a 42.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

BOX Stock Down 1.2%

NYSE BOX traded down $0.48 on Thursday, reaching $38.07. 1,033,844 shares of the stock traded hands, compared to its average volume of 1,934,895. The firm's fifty day simple moving average is $31.61 and its 200 day simple moving average is $32.27. The company has a market cap of $5.47 billion, a price-to-earnings ratio of 47.59, a P/E/G ratio of 4.42 and a beta of 0.94. Box, Inc. has a 12 month low of $24.63 and a 12 month high of $38.80.

BOX (NYSE:BOX - Get Free Report) last issued its quarterly earnings results on Tuesday, May 27th. The software maker reported $0.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.25 by $0.05. The firm had revenue of $276.27 million during the quarter, compared to analyst estimates of $274.77 million. BOX had a negative return on equity of 17.20% and a net margin of 13.96%. The firm's quarterly revenue was up 4.4% on a year-over-year basis. During the same period last year, the company posted $0.39 EPS. As a group, equities research analysts forecast that Box, Inc. will post 0.27 EPS for the current fiscal year.

BOX announced that its board has authorized a share repurchase program on Tuesday, March 4th that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the software maker to repurchase up to 3.1% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research analysts recently commented on BOX shares. DA Davidson set a $45.00 target price on BOX and gave the stock a "buy" rating in a research note on Wednesday, May 28th. UBS Group raised BOX from a "buy" rating to a "strong-buy" rating and boosted their target price for the company from $37.00 to $40.00 in a report on Wednesday, May 28th. Wall Street Zen raised BOX from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, May 14th. Royal Bank of Canada increased their target price on BOX from $21.00 to $24.00 and gave the stock an "underperform" rating in a research note on Wednesday, May 28th. Finally, Morgan Stanley reissued a "positive" rating on shares of BOX in a research note on Wednesday, May 28th. One research analyst has rated the stock with a sell rating, one has given a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $38.50.

Institutional Investors Weigh In On BOX

Institutional investors have recently added to or reduced their stakes in the company. Beverly Hills Private Wealth LLC boosted its holdings in shares of BOX by 3.2% in the 1st quarter. Beverly Hills Private Wealth LLC now owns 11,550 shares of the software maker's stock worth $356,000 after acquiring an additional 362 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in BOX by 5.3% during the 4th quarter. Janney Montgomery Scott LLC now owns 7,807 shares of the software maker's stock worth $247,000 after buying an additional 391 shares during the period. Farther Finance Advisors LLC raised its stake in BOX by 19.3% during the 4th quarter. Farther Finance Advisors LLC now owns 2,579 shares of the software maker's stock worth $81,000 after buying an additional 417 shares during the period. Sanctuary Advisors LLC raised its stake in BOX by 1.2% during the 4th quarter. Sanctuary Advisors LLC now owns 35,775 shares of the software maker's stock worth $1,189,000 after buying an additional 423 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in BOX by 2.6% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 17,340 shares of the software maker's stock worth $548,000 after purchasing an additional 442 shares in the last quarter. 86.74% of the stock is owned by institutional investors and hedge funds.

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.