Insider Selling: BOX (NYSE:BOX) COO Sells 6,528 Shares of Stock

Key Points

• On April 7, BOX COO Olivia Nottebohm sold 6,528 shares at an average price of $24.07 under a pre‑arranged Rule 10b5‑1 plan, trimming her stake by 1.32% to 487,488 shares (about $11.73M).
• BOX shares fell about 3.3% to $23.22, with a market cap of $3.21B, a P/E of 39.35, a 52‑week range of $21.61–$38.80, and 50/200‑day moving averages of $24.06 and $28.32.
• The board approved a $500 million share repurchase program (up to ~14.2% of outstanding shares), a signal that management views the stock as potentially undervalued.

Box, Inc. (NYSE:BOX - Get Free Report) COO Olivia Nottebohm sold 6,528 shares of BOX stock in a transaction that occurred on Tuesday, April 7th. The stock was sold at an average price of $24.07, for a total transaction of $157,128.96. Following the completion of the transaction, the chief operating officer owned 487,488 shares of the company's stock, valued at $11,733,836.16. This represents a 1.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Friday, March 6th, Olivia Nottebohm sold 4,612 shares of BOX stock. The stock was sold at an average price of $25.78, for a total transaction of $118,897.36.
• On Wednesday, January 21st, Olivia Nottebohm sold 4,612 shares of BOX stock. The stock was sold at an average price of $26.04, for a total transaction of $120,096.48.

BOX Stock Down 3.3%

BOX stock traded down $0.79 during trading on Wednesday, reaching $23.22. The stock had a trading volume of 2,147,808 shares, compared to its average volume of 2,423,793. Box, Inc. has a 52-week low of $21.61 and a 52-week high of $38.80. The business has a 50 day moving average price of $24.06 and a 200 day moving average price of $28.32. The stock has a market cap of $3.21 billion, a PE ratio of 39.35, a P/E/G ratio of 1.23 and a beta of 0.71.

BOX (NYSE:BOX - Get Free Report) last posted its earnings results on Tuesday, March 3rd. The software maker reported $0.49 EPS for the quarter, beating the consensus estimate of $0.33 by $0.16. The firm had revenue of $305.88 million for the quarter, compared to analyst estimates of $305.64 million. BOX had a negative return on equity of 23.61% and a net margin of 9.80%.BOX'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 company posted $0.42 earnings per share. On average, equities analysts predict that Box, Inc. will post 0.27 EPS for the current fiscal year.

BOX declared that its board has approved 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 buy up to 14.2% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. UBS Group dropped their target price on BOX from $31.00 to $28.00 and set a "hold" rating on the stock in a report on Wednesday, March 4th. DA Davidson reissued a "buy" rating and issued a $45.00 target price on shares of BOX in a report on Friday, March 20th. Weiss Ratings reissued a "hold (c+)" rating on shares of BOX in a report on Monday, December 29th. Wall Street Zen lowered BOX from a "strong-buy" rating to a "buy" rating in a report on Saturday, March 28th. Finally, William Blair reissued a "market perform" rating on shares of BOX in a report on Monday, March 23rd. Four research 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. Based on data from MarketBeat, BOX has an average rating of "Hold" and a consensus target price of $35.57.

Hedge Funds Weigh In On BOX

Hedge funds have recently made changes to their positions in the company. First Horizon Corp grew its holdings in shares of BOX by 148.1% during the fourth quarter. First Horizon Corp now owns 831 shares of the software maker's stock worth $25,000 after purchasing an additional 496 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of BOX during the fourth quarter worth about $26,000. Geneos Wealth Management Inc. purchased a new position in shares of BOX during the first quarter worth about $31,000. Salomon & Ludwin LLC purchased a new position in shares of BOX during the third quarter worth about $32,000. Finally, Employees Retirement System of Texas purchased a new position in shares of BOX during the third quarter worth about $35,000. Hedge funds and other institutional investors 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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