Insider Selling: Box, Inc. (NYSE:BOX) COO Sells 1,332 Shares of Stock

Box, Inc. (NYSE:BOX) COO Olivia Nottebohm sold 1,332 shares of the company’s stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $29.01, for a total transaction of $38,641.32. Following the completion of the transaction, the chief operating officer now directly owns 492,545 shares in the company, valued at $14,288,730.45. The trade was a 0.27 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Tuesday, March 25th, Olivia Nottebohm sold 2,105 shares of BOX stock. The stock was sold at an average price of $30.76, for a total transaction of $64,749.80.
• On Monday, February 10th, Olivia Nottebohm sold 6,079 shares of BOX stock. The shares were sold at an average price of $34.42, for a total transaction of $209,239.18.
• On Tuesday, January 21st, Olivia Nottebohm sold 6,079 shares of BOX stock. The stock was sold at an average price of $31.91, for a total value of $193,980.89.

BOX Price Performance

BOX stock opened at $30.22 on Thursday. The company has a market capitalization of $4.35 billion, a PE ratio of 37.78, a price-to-earnings-growth ratio of 4.42 and a beta of 0.96. Box, Inc. has a one year low of $24.63 and a one year high of $35.74. The business has a 50 day simple moving average of $32.24 and a 200 day simple moving average of $32.45.

BOX declared that its board has authorized a stock repurchase plan on Tuesday, March 4th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the software maker to buy up to 3.1% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On BOX

Hedge funds have recently added to or reduced their stakes in the stock. Versant Capital Management Inc raised its stake in shares of BOX by 519.4% in the 1st quarter. Versant Capital Management Inc now owns 1,951 shares of the software maker’s stock valued at $60,000 after purchasing an additional 1,636 shares during the period. Smartleaf Asset Management LLC boosted its stake in shares of BOX by 715.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,162 shares of the software maker’s stock valued at $69,000 after buying an additional 1,897 shares during the period. TD Waterhouse Canada Inc. boosted its stake in shares of BOX by 42.4% in the fourth quarter. TD Waterhouse Canada Inc. now owns 2,194 shares of the software maker’s stock valued at $69,000 after buying an additional 653 shares during the period. Farther Finance Advisors LLC boosted its stake in shares of BOX by 19.3% in the fourth quarter. Farther Finance Advisors LLC now owns 2,579 shares of the software maker’s stock valued at $81,000 after buying an additional 417 shares during the period. Finally, SBI Securities Co. Ltd. acquired a new position in BOX during the fourth quarter valued at approximately $132,000. Institutional investors and hedge funds own 86.74% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on BOX shares. Raymond James restated an “outperform” rating and issued a $38.00 price target (down previously from $40.00) on shares of BOX in a research report on Wednesday, March 5th. JPMorgan Chase & Co. decreased their price target on BOX from $38.00 to $37.00 and set an “overweight” rating for the company in a report on Wednesday, March 5th. DA Davidson reaffirmed a “buy” rating and issued a $45.00 target price on shares of BOX in a research report on Wednesday, March 19th. Bank of America initiated coverage on BOX in a research report on Thursday, December 12th. They set a “buy” rating and a $40.00 price target on the stock. Finally, Royal Bank of Canada reissued an “underperform” rating and issued a $21.00 price target on shares of BOX in a research note on Wednesday, March 19th. One analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $37.11.

About BOX

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.