Dylan C. Smith Sells 13,000 Shares of Box, Inc. (NYSE:BOX) Stock

Box, Inc. (NYSE:BOX - Get Free Report) CFO Dylan C. Smith sold 13,000 shares of the company's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $37.23, for a total transaction of $483,990.00. Following the completion of the transaction, the chief financial officer now directly owns 1,507,550 shares in the company, valued at $56,126,086.50. The trade was a 0.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

BOX Stock Down 0.0%

BOX stock traded down $0.00 during trading on Friday, reaching $35.84. The stock had a trading volume of 610,840 shares, compared to its average volume of 1,938,461. Box, Inc. has a 52-week low of $24.63 and a 52-week high of $38.80. The business has a 50 day moving average price of $32.35 and a 200 day moving average price of $32.39. The stock has a market cap of $5.15 billion, a PE ratio of 44.82, a P/E/G ratio of 4.42 and a beta of 0.94.

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

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

Hedge Funds Weigh In On BOX

Large investors have recently made changes to their positions in the stock. Arrowstreet Capital Limited Partnership increased its holdings in BOX by 103.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,386,370 shares of the software maker's stock valued at $107,009,000 after buying an additional 1,725,197 shares in the last quarter. Norges Bank purchased a new position in BOX in the 4th quarter valued at approximately $29,973,000. Jupiter Asset Management Ltd. acquired a new position in BOX during the fourth quarter worth $24,234,000. Fisher Asset Management LLC boosted 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 in the last quarter. Finally, Sunriver Management LLC grew its holdings in BOX by 62.9% in the first quarter. Sunriver Management LLC now owns 1,546,862 shares of the software maker's stock valued at $47,736,000 after purchasing an additional 597,410 shares during the last quarter. Hedge funds and other institutional investors own 86.74% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on BOX shares. UBS Group upgraded BOX from a "buy" rating to a "strong-buy" rating and raised their price target for the stock from $37.00 to $40.00 in a research report on Wednesday, May 28th. Morgan Stanley reiterated a "positive" rating on shares of BOX in a research note on Wednesday, May 28th. Royal Bank of Canada raised their price objective on shares of BOX from $21.00 to $24.00 and gave the company an "underperform" rating in a research note on Wednesday, May 28th. Wall Street Zen raised shares of BOX from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, May 14th. Finally, JPMorgan Chase & Co. increased their target price on shares of BOX from $37.00 to $39.00 and gave the stock an "overweight" rating in a report on Wednesday, May 28th. One research analyst has rated the stock with a sell rating, one has given a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, BOX currently has a consensus rating of "Moderate Buy" and a consensus target price of $38.50.

BOX Company Profile

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.