Key Points
- BOX CFO Dylan Smith sold 23,720 shares on May 11 at an average price of $24.96, totaling about $592,051. After the sale, he still held 1,381,049 shares, and his ownership fell by 1.69%.
- Box recently beat quarterly expectations, reporting EPS of $0.49 versus the $0.33 consensus and revenue of $305.88 million, up 9.4% year over year. Analysts currently expect full-year EPS of 0.34.
- The company also authorized a $500 million stock repurchase program, while analysts remain mixed with a consensus rating of “Hold” and an average price target of $35.57.
Box, Inc. (NYSE:BOX - Get Free Report) COO Olivia Nottebohm sold 12,470 shares of the business's stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $25.17, for a total transaction of $313,869.90. Following the completion of the sale, the chief operating officer owned 558,739 shares in the company, valued at $14,063,460.63. The trade was a 2.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Olivia Nottebohm also recently made the following trade(s):
- On Friday, May 1st, Olivia Nottebohm sold 5,942 shares of BOX stock. The shares were sold at an average price of $25.00, for a total transaction of $148,550.00.
- On Tuesday, April 7th, Olivia Nottebohm sold 6,528 shares of BOX stock. The shares were 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 Price Performance
BOX stock opened at $24.50 on Tuesday. Box, Inc. has a 52-week low of $21.34 and a 52-week high of $38.80. The company's 50 day simple moving average is $24.16 and its 200-day simple moving average is $27.01. The firm has a market capitalization of $3.39 billion, a P/E ratio of 41.52, a P/E/G ratio of 1.32 and a beta of 0.71.
BOX (NYSE:BOX - Get Free Report) last released its quarterly earnings results on Tuesday, March 3rd. The software maker reported $0.49 earnings per share (EPS) for the quarter, beating 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 business had revenue of $305.88 million for the quarter, compared to analyst estimates of $305.64 million. During the same quarter in the previous year, the business earned $0.42 earnings per share. The firm's revenue was up 9.4% compared to the same quarter last year. Sell-side analysts predict that Box, Inc. will post 0.34 EPS for the current fiscal year.
BOX announced that its board has initiated a share buyback plan on Thursday, March 19th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the software maker to reacquire up to 14.2% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. grew its position in BOX by 8.6% during the first quarter. PNC Financial Services Group Inc. now owns 14,018 shares of the software maker's stock valued at $331,000 after purchasing an additional 1,110 shares in the last quarter. Dimensional Fund Advisors LP grew its position in BOX by 0.5% during the first quarter. Dimensional Fund Advisors LP now owns 2,674,883 shares of the software maker's stock valued at $63,232,000 after purchasing an additional 13,983 shares in the last quarter. KBC Group NV grew its position in BOX by 43.9% during the first quarter. KBC Group NV now owns 4,868 shares of the software maker's stock valued at $115,000 after purchasing an additional 1,485 shares in the last quarter. Kesler Norman & Wride LLC grew its position in BOX by 23.7% during the first quarter. Kesler Norman & Wride LLC now owns 36,880 shares of the software maker's stock valued at $872,000 after purchasing an additional 7,076 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in BOX by 10.2% during the first quarter. Principal Financial Group Inc. now owns 1,010,921 shares of the software maker's stock valued at $23,898,000 after purchasing an additional 93,516 shares in the last quarter. 86.74% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of research firms have recently issued reports on BOX. 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. 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. 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. Wall Street Zen lowered shares of BOX from a "strong-buy" rating to a "buy" rating in a report on Saturday. Finally, DA Davidson reaffirmed a "buy" rating and set a $45.00 price objective on shares of BOX in a research report on Friday, March 20th. Four investment 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. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $35.57.
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BOX Company Profile
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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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