Key Points
- Olivia Nottebohm, Box's COO, sold 5,942 shares on May 1 at an average price of $25 for proceeds of $148,550, leaving her with 571,209 shares (a 1.03% reduction in her stake).
- Nottebohm has made multiple insider sales this year, including 6,528 shares on April 7 at $24.07 and 4,612 shares on March 6 at $25.78, signaling continued insider selling.
- Box beat quarterly EPS estimates ($0.49 vs. $0.33) with revenue up 9.4% year-over-year, and its board approved a $500 million buyback program (up to 14.2% of outstanding shares).
Box, Inc. (NYSE:BOX - Get Free Report) COO Olivia Nottebohm sold 5,942 shares of the stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $25.00, for a total transaction of $148,550.00. Following the transaction, the chief operating officer owned 571,209 shares in the company, valued at approximately $14,280,225. The trade was a 1.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Olivia Nottebohm also recently made the following trade(s):
- On Tuesday, April 7th, Olivia Nottebohm sold 6,528 shares of BOX stock. The stock was sold at an average price of $24.07, for a total transaction of $157,128.96.
- On Friday, March 6th, Olivia Nottebohm sold 4,612 shares of BOX stock. The shares were sold at an average price of $25.78, for a total transaction of $118,897.36.
BOX Stock Performance
NYSE BOX opened at $25.21 on Tuesday. Box, Inc. has a one year low of $21.34 and a one year high of $38.80. The company's 50 day moving average price is $23.93 and its 200 day moving average price is $27.29. The firm has a market capitalization of $3.49 billion, a price-to-earnings ratio of 42.72, a PEG ratio of 1.28 and a beta of 0.71.
BOX (NYSE:BOX - Get Free Report) last posted its quarterly 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. BOX had a net margin of 9.80% and a negative return on equity of 23.61%. The firm had revenue of $305.88 million for the quarter, compared to analyst estimates of $305.64 million. During the same quarter last year, the firm posted $0.42 earnings per share. BOX's revenue for the quarter was up 9.4% compared to the same quarter last year. Sell-side analysts forecast that Box, Inc. will post 0.34 EPS for the current fiscal year.
BOX declared that its board has approved a stock buyback 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 stock through open market purchases. Stock repurchase plans are typically a sign that the company's board believes its stock is undervalued.
Analysts Set New Price Targets
Several research firms recently commented on BOX. UBS Group cut their price target 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. William Blair restated a "market perform" rating on shares of BOX in a report on Monday, March 23rd. Morgan Stanley cut their price target 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. Citigroup cut their price target 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. Finally, DA Davidson restated a "buy" rating and issued a $45.00 price target on shares of BOX in a report on Friday, March 20th. Four equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $35.57.
Read Our Latest Stock Analysis on BOX
Institutional Trading of BOX
Hedge funds have recently made changes to their positions in the company. Capital Fund Management S.A. raised its stake in shares of BOX by 19.9% during the third quarter. Capital Fund Management S.A. now owns 378,101 shares of the software maker's stock valued at $12,201,000 after purchasing an additional 62,630 shares during the period. Mizuho Markets Americas LLC purchased a new stake in shares of BOX during the third quarter valued at approximately $20,851,000. First Trust Advisors LP raised its stake in shares of BOX by 6.2% during the third quarter. First Trust Advisors LP now owns 1,273,546 shares of the software maker's stock valued at $41,097,000 after purchasing an additional 74,758 shares during the period. Natixis Advisors LLC raised its stake in shares of BOX by 19.5% during the third quarter. Natixis Advisors LLC now owns 682,315 shares of the software maker's stock valued at $22,018,000 after purchasing an additional 111,153 shares during the period. Finally, Sivia Capital Partners LLC purchased a new stake in shares of BOX during the second quarter valued at approximately $484,000. Hedge funds and other institutional investors own 86.74% of the company's stock.
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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