Dana Evan Sells 17,034 Shares of BOX (NYSE:BOX) Stock

Key Points

• Director Dana Evan sold 17,034 shares on April 6 at an average price of $24.24 for about $412,904, trimming his position by 13.05% to 113,525 shares (valued at roughly $2.75M).
• The board authorized a $500 million stock repurchase plan (up to ~14.2% of shares), a move typically signaling management believes the stock is undervalued.
• Box recently beat expectations with $0.49 EPS vs. $0.33 consensus and revenue of $305.88M (+9.4% YoY), but the shares trade near $23.22 and carry a MarketBeat consensus rating of Hold with a $35.57 target.

Box, Inc. (NYSE:BOX - Get Free Report) Director Dana Evan sold 17,034 shares of the stock in a transaction on Monday, April 6th. The stock was sold at an average price of $24.24, for a total value of $412,904.16. Following the transaction, the director owned 113,525 shares in the company, valued at $2,751,846. The trade was a 13.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

BOX Stock Performance

Shares of NYSE BOX traded down $0.79 during mid-day trading on Wednesday, reaching $23.22. The company had a trading volume of 2,147,808 shares, compared to its average volume of 2,681,093. Box, Inc. has a one year low of $21.61 and a one year high of $38.80. The firm has a market cap of $3.21 billion, a price-to-earnings ratio of 39.35, a PEG ratio of 1.23 and a beta of 0.71. The business's 50-day simple moving average is $24.12 and its 200 day simple moving average is $28.36.

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

BOX announced that its board has authorized a stock repurchase plan on Thursday, March 19th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the software maker to purchase up to 14.2% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's leadership believes its stock is undervalued.

Analyst Ratings Changes

Several analysts recently weighed in on the company. DA Davidson reaffirmed a "buy" rating and issued a $45.00 price objective on shares of BOX in a research note on Friday, March 20th. UBS Group reduced their price objective on BOX from $31.00 to $28.00 and set a "hold" rating on the stock in a research note on Wednesday, March 4th. Citigroup reduced their price objective on BOX from $40.00 to $36.00 and set a "buy" rating on the stock in a research note on Wednesday, March 4th. Morgan Stanley reduced their price objective on 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, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of BOX in a research note on Monday, December 29th. Four equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $35.57.

Institutional Trading of BOX

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of BOX by 2.8% in the third quarter. Vanguard Group Inc. now owns 18,487,018 shares of the software maker's stock worth $596,576,000 after acquiring an additional 497,658 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in shares of BOX by 15.5% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,511,258 shares of the software maker's stock worth $134,932,000 after acquiring an additional 604,946 shares during the period. RGM Capital LLC lifted its stake in shares of BOX by 8.2% in the fourth quarter. RGM Capital LLC now owns 3,330,168 shares of the software maker's stock worth $99,605,000 after acquiring an additional 251,520 shares during the period. Sei Investments Co. lifted its stake in shares of BOX by 2.9% in the third quarter. Sei Investments Co. now owns 3,316,783 shares of the software maker's stock worth $107,033,000 after acquiring an additional 94,289 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in shares of BOX by 823,134.5% in the fourth 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 period. 86.74% of the stock is currently owned by institutional investors.

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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