BOX (NYSE:BOX) COO Olivia Nottebohm Sells 5,942 Shares

Key Points

• COO Olivia Nottebohm sold 5,942 shares on May 1 at an average of $25 for $148,550, trimming her stake by 1.03% to 571,209 shares (≈$14.28M); she also sold 6,528 shares on April 7 and 4,612 shares on March 6.
• Box reported a quarterly EPS beat ($0.49 vs. $0.33) with revenue of $305.88M (up 9.4% YoY), and its board approved a $500 million stock buyback program to repurchase up to about 14.2% of outstanding shares.

Box, Inc. (NYSE:BOX - Get Free Report) COO Olivia Nottebohm sold 5,942 shares of the company's stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $25.00, for a total transaction of $148,550.00. Following the completion of the transaction, the chief operating officer owned 571,209 shares in the company, valued at approximately $14,280,225. This represents a 1.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Olivia Nottebohm also recently made the following trade(s):

• On Tuesday, April 7th, Olivia Nottebohm sold 6,528 shares of BOX stock. The shares were sold at an average price of $24.07, for a total transaction of $157,128.96.
• On Friday, March 6th, Olivia Nottebohm sold 4,612 shares of BOX stock. The shares were sold at an average price of $25.78, for a total transaction of $118,897.36.

BOX Price Performance

BOX stock traded up $0.20 during trading hours on Monday, hitting $25.21. The company had a trading volume of 1,751,018 shares, compared to its average volume of 2,201,103. The firm has a market capitalization of $3.49 billion, a P/E ratio of 42.72, a price-to-earnings-growth ratio of 1.28 and a beta of 0.71. The firm's fifty day moving average is $23.93 and its 200-day moving average is $27.29. Box, Inc. has a fifty-two week low of $21.34 and a fifty-two week high of $38.80.

BOX (NYSE:BOX - Get Free Report) last released its quarterly earnings data on Tuesday, March 3rd. The software maker reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.16. BOX had a net margin of 9.80% and a negative return on equity of 23.61%. The firm had revenue of $305.88 million for the quarter, compared to analyst estimates of $305.64 million. During the same quarter in the prior year, the business earned $0.42 EPS. The company's revenue for the quarter was up 9.4% compared to the same quarter last year. Analysts anticipate that Box, Inc. will post 0.34 earnings per share for the current year.

BOX declared that its Board of Directors has approved a stock buyback program on Thursday, March 19th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the software maker to reacquire up to 14.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Citigroup dropped their price target on shares of BOX from $40.00 to $36.00 and set a "buy" rating on the stock in a research note on Wednesday, March 4th. DA Davidson restated a "buy" rating and set a $45.00 price target on shares of BOX in a research note on Friday, March 20th. William Blair restated a "market perform" rating on shares of BOX in a research note on Monday, March 23rd. Morgan Stanley dropped their price target on shares of BOX from $38.00 to $33.00 and set an "equal weight" rating on the stock in a research note on Thursday, March 12th. Finally, UBS Group dropped their price target on shares of BOX from $31.00 to $28.00 and set a "hold" rating on the stock in a research note on Wednesday, March 4th. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $35.57.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of BOX. Northwestern Mutual Wealth Management Co. lifted its position in BOX by 823,134.5% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,054,200 shares of the software maker's stock worth $91,351,000 after acquiring an additional 3,053,829 shares during the last quarter. Norges Bank acquired a new position in BOX during the 4th quarter worth $58,814,000. Qube Research & Technologies Ltd lifted its position in BOX by 240.6% during the 2nd quarter. Qube Research & Technologies Ltd now owns 1,210,237 shares of the software maker's stock worth $41,354,000 after acquiring an additional 854,953 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in BOX during the 2nd quarter worth $22,626,000. Finally, Mizuho Markets Americas LLC acquired a new position in BOX during the 3rd quarter worth $20,851,000. Institutional investors and hedge funds 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.

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