Eli Berkovitch Sells 2,750 Shares of Box, Inc. (NYSE:BOX) Stock

Box, Inc. (NYSE:BOX - Get Free Report) VP Eli Berkovitch sold 2,750 shares of the business's stock in a transaction dated Thursday, April 10th. The stock was sold at an average price of $29.58, for a total value of $81,345.00. Following the completion of the sale, the vice president now owns 121,922 shares in the company, valued at $3,606,452.76. This represents a 2.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Eli Berkovitch also recently made the following trade(s):

• On Monday, March 24th, Eli Berkovitch sold 5,651 shares of BOX stock. The shares were sold at an average price of $30.66, for a total transaction of $173,259.66.

BOX Trading Down 0.4 %

BOX traded down $0.13 during midday trading on Friday, hitting $29.65. 928,340 shares of the company traded hands, compared to its average volume of 1,818,450. The business has a 50 day simple moving average of $31.64 and a two-hundred day simple moving average of $32.33. Box, Inc. has a 52-week low of $24.63 and a 52-week high of $35.74. The company has a market capitalization of $4.26 billion, a price-to-earnings ratio of 37.06, a PEG ratio of 4.42 and a beta of 0.96.

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

Wall Street Analyst Weigh In

A number of brokerages have issued reports on BOX. Morgan Stanley decreased their price objective on BOX from $36.00 to $35.00 and set an "equal weight" rating on the stock in a research report on Wednesday. JPMorgan Chase & Co. decreased their price target on shares of BOX from $38.00 to $37.00 and set an "overweight" rating for the company in a research note on Wednesday, March 5th. StockNews.com cut shares of BOX from a "strong-buy" rating to a "buy" rating in a report on Wednesday, January 8th. Raymond James reiterated an "outperform" rating and issued a $38.00 target price (down from $40.00) on shares of BOX in a report on Wednesday, March 5th. Finally, DA Davidson lowered their price objective on shares of BOX from $45.00 to $40.00 and set a "buy" rating for the company in a research note on Monday, April 14th. One research analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $36.44.

Hedge Funds Weigh In On BOX

Hedge funds and other institutional investors have recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership boosted its stake in BOX by 103.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,386,370 shares of the software maker's stock worth $107,009,000 after buying an additional 1,725,197 shares during the last quarter. Norges Bank purchased a new stake in shares of BOX in the fourth quarter valued at about $29,973,000. Jupiter Asset Management Ltd. purchased a new stake in shares of BOX in the fourth quarter valued at about $24,234,000. Fisher Asset Management LLC increased its position in BOX by 420.6% during the fourth quarter. Fisher Asset Management LLC now owns 857,498 shares of the software maker's stock worth $27,097,000 after purchasing an additional 692,784 shares during the last quarter. Finally, Wells Fargo & Company MN raised its stake in BOX by 22.9% during the fourth quarter. Wells Fargo & Company MN now owns 1,633,647 shares of the software maker's stock worth $51,623,000 after purchasing an additional 304,755 shares during the period. Hedge funds and other institutional investors own 86.74% of the company's stock.

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.