BOX (NYSE:BOX) CEO Aaron Levie Sells 15,000 Shares of Stock

Key Points

• Aaron Levie sold 15,000 shares on March 10 at an average price of $24.72 for roughly $370,800, trimming his stake by 0.51% to 2,907,030 shares (about $71.9M).
• Box beat quarterly expectations, reporting $0.49 EPS vs. a $0.33 estimate and $305.88M in revenue, a 9.4% year-over-year increase.
• Shares trade around $24.66 with a market cap of $3.53B and a P/E of ~41.8, while analyst coverage is mixed (average rating "Hold" and average target ~$35.57).

Box, Inc. (NYSE:BOX - Get Free Report) CEO Aaron Levie sold 15,000 shares of the business's stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $24.72, for a total value of $370,800.00. Following the sale, the chief executive officer owned 2,907,030 shares of the company's stock, valued at $71,861,781.60. The trade was a 0.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

BOX Trading Down 0.0%

BOX stock traded down $0.01 during midday trading on Thursday, reaching $24.66. The stock had a trading volume of 3,634,558 shares, compared to its average volume of 2,623,845. Box, Inc. has a 52-week low of $21.61 and a 52-week high of $38.80. The company's fifty day simple moving average is $25.42 and its 200 day simple moving average is $29.48. The company has a market cap of $3.53 billion, a price-to-earnings ratio of 41.79, a price-to-earnings-growth ratio of 1.21 and a beta of 0.80.

BOX (NYSE:BOX - Get Free Report) last released its earnings results on Tuesday, March 3rd. The software maker reported $0.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.33 by $0.16. The business had revenue of $305.88 million during the quarter, compared to analyst estimates of $305.64 million. BOX had a net margin of 9.80% and a negative return on equity of 23.61%. The company's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.42 earnings per share. Sell-side analysts predict that Box, Inc. will post 0.27 EPS for the current year.

Institutional Trading of BOX

Hedge funds and other institutional investors have recently made changes to their positions in the company. Mackenzie Financial Corp lifted its holdings in BOX by 15.2% in the second quarter. Mackenzie Financial Corp now owns 560,329 shares of the software maker's stock valued at $19,146,000 after acquiring an additional 73,896 shares during the last quarter. Creative Planning increased its stake in BOX by 84.3% during the second quarter. Creative Planning now owns 39,251 shares of the software maker's stock worth $1,341,000 after acquiring an additional 17,950 shares during the last quarter. Neuberger Berman Group LLC raised its position in BOX by 38.1% in the second quarter. Neuberger Berman Group LLC now owns 955,286 shares of the software maker's stock valued at $32,637,000 after purchasing an additional 263,619 shares during the period. Mizuho Markets Americas LLC purchased a new stake in BOX in the third quarter valued at $20,851,000. Finally, Trek Financial LLC acquired a new position in shares of BOX in the 2nd quarter valued at $6,276,000. Institutional investors and hedge funds own 86.74% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on BOX shares. UBS Group cut their price objective on shares of BOX from $31.00 to $28.00 and set a "hold" rating for the company in a report on Wednesday, March 4th. Citigroup lowered their target price on BOX from $40.00 to $36.00 and set a "buy" rating on the stock in a report on Wednesday, March 4th. DA Davidson reaffirmed a "buy" rating and issued a $45.00 price target on shares of BOX in a report on Wednesday, December 3rd. Weiss Ratings reiterated a "hold (c+)" rating on shares of BOX in a research report on Monday, December 29th. Finally, Morgan Stanley dropped their target price on BOX from $38.00 to $33.00 and set an "equal weight" rating for the company in a report on Thursday. Four equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $35.57.

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.

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