Box, Inc. (NYSE:BOX) CEO Aaron Levie Sells 10,000 Shares

Box, Inc. (NYSE:BOX) CEO Aaron Levie sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $32.08, for a total transaction of $320,800.00. Following the completion of the transaction, the chief executive officer now owns 2,979,780 shares of the company’s stock, valued at $95,591,342.40. The trade was a 0.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

BOX Stock Down 1.5 %

BOX stock opened at $30.93 on Thursday. Box, Inc. has a 12-month low of $24.63 and a 12-month high of $35.74. The firm’s fifty day moving average is $32.81 and its 200 day moving average is $32.74. The company has a market capitalization of $4.44 billion, a PE ratio of 38.66, a PEG ratio of 4.42 and a beta of 1.00.

BOX declared that its board has initiated a share buyback plan on Tuesday, March 4th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the software maker to buy up to 3.1% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of BOX. Itau Unibanco Holding S.A. acquired a new position in shares of BOX during the 3rd quarter valued at $36,000. Smartleaf Asset Management LLC raised its holdings in BOX by 715.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,162 shares of the software maker’s stock worth $69,000 after buying an additional 1,897 shares during the last quarter. TD Waterhouse Canada Inc. raised its holdings in BOX by 42.4% during the fourth quarter. TD Waterhouse Canada Inc. now owns 2,194 shares of the software maker’s stock worth $69,000 after buying an additional 653 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in BOX by 245.4% during the third quarter. Farther Finance Advisors LLC now owns 2,162 shares of the software maker’s stock worth $71,000 after buying an additional 1,536 shares during the last quarter. Finally, SBI Securities Co. Ltd. acquired a new position in BOX during the fourth quarter worth $132,000. Institutional investors and hedge funds own 86.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on BOX. William Blair restated an “outperform” rating on shares of BOX in a research report on Thursday, November 14th. Bank of America initiated coverage on shares of BOX in a report on Thursday, December 12th. They set a “buy” rating and a $40.00 target price on the stock. DA Davidson initiated coverage on shares of BOX in a report on Wednesday, December 18th. They set a “buy” rating and a $45.00 target price on the stock. StockNews.com lowered shares of BOX from a “strong-buy” rating to a “buy” rating in a report on Wednesday, January 8th. Finally, Royal Bank of Canada reissued an “underperform” rating and set a $21.00 target price on shares of BOX in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $36.60.

BOX Company Profile

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.