Key Points
- COO Olivia Nottebohm sold 6,528 shares on April 7 at an average price of $24.07 under a pre-arranged Rule 10b5-1 plan, leaving her with 487,488 shares (a 1.32% decline in her position, valued at about $11.73 million).
- Board authorized a $500 million share repurchase, allowing Box to buy up to roughly 14.2% of outstanding shares—a move typically interpreted as management signaling the stock may be undervalued.
- Box beat quarterly EPS estimates ($0.49 vs. $0.33) with revenue of $305.88 million, up 9.4% year-over-year; the stock carries a consensus analyst rating of "Hold" with an average target of $35.57.
Box, Inc. (NYSE:BOX - Get Free Report) COO Olivia Nottebohm sold 6,528 shares of the firm's 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 sale, the chief operating officer directly owned 487,488 shares in the company, valued at approximately $11,733,836.16. The trade was a 1.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 Trading Down 3.3%
BOX stock opened at $23.22 on Thursday. Box, Inc. has a twelve month low of $21.61 and a twelve month high of $38.80. The company's 50 day moving average is $24.06 and its two-hundred day moving average is $28.32. The stock has a market cap of $3.21 billion, a P/E ratio of 39.35, a PEG ratio of 1.23 and a beta of 0.71.
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, topping analysts' consensus estimates of $0.33 by $0.16. BOX had a net margin of 9.80% and a negative return on equity of 23.61%. 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 company earned $0.42 earnings per share. The firm's revenue for the quarter was up 9.4% on a year-over-year basis. On average, equities research analysts predict that Box, Inc. will post 0.27 earnings per share for the current year.
BOX announced that its board has authorized a share repurchase program on Thursday, March 19th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the software maker to buy up to 14.2% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's management believes its shares are undervalued.
Analyst Ratings Changes
BOX has been the topic of a number of research analyst reports. Weiss Ratings reissued a "hold (c+)" rating on shares of BOX in a report on Monday, December 29th. DA Davidson reaffirmed a "buy" rating and issued a $45.00 target price on shares of BOX in a report on Friday, March 20th. Citigroup cut their target price on shares of BOX from $40.00 to $36.00 and set a "buy" rating on the stock in a report on Wednesday, March 4th. Morgan Stanley cut their target price on shares of BOX from $38.00 to $33.00 and set an "equal weight" rating on the stock in a report on Thursday, March 12th. Finally, UBS Group cut their target price on shares of BOX from $31.00 to $28.00 and set a "hold" rating on the stock in a report on Wednesday, March 4th. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $35.57.
Check Out Our Latest Stock Report on BOX
Hedge Funds Weigh In On BOX
A number of institutional investors have recently modified their holdings of BOX. Northwestern Mutual Wealth Management Co. increased its holdings in shares of BOX by 823,134.5% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,054,200 shares of the software maker's stock valued at $91,351,000 after acquiring an additional 3,053,829 shares during the period. Norges Bank acquired a new position in shares of BOX in the 4th quarter valued at $58,814,000. Qube Research & Technologies Ltd increased its stake in BOX by 240.6% in the 2nd quarter. Qube Research & Technologies Ltd now owns 1,210,237 shares of the software maker's stock valued at $41,354,000 after buying an additional 854,953 shares during the period. Cubist Systematic Strategies LLC acquired a new position in BOX in the 2nd quarter valued at $22,626,000. Finally, Mizuho Markets Americas LLC acquired a new position in BOX in the 3rd quarter valued at $20,851,000. 86.74% of the stock is owned by institutional investors and hedge funds.
About BOX
(
Get Free Report)
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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