Box, Inc. (NYSE:BOX) VP Eli Berkovitch Sells 5,651 Shares

Box, Inc. (NYSE:BOX) VP Eli Berkovitch sold 5,651 shares of the firm’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $30.66, for a total transaction of $173,259.66. Following the transaction, the vice president now directly owns 124,672 shares in the company, valued at $3,822,443.52. This trade represents a 4.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Eli Berkovitch also recently made the following trade(s):

• On Friday, January 10th, Eli Berkovitch sold 4,791 shares of BOX stock. The shares were sold at an average price of $31.06, for a total transaction of $148,808.46.

BOX Price Performance

BOX stock opened at $31.12 on Friday. The company has a market capitalization of $4.47 billion, a P/E ratio of 38.90, a price-to-earnings-growth ratio of 4.42 and a beta of 1.00. Box, Inc. has a 12 month low of $24.63 and a 12 month high of $35.74. The firm’s fifty day simple moving average is $32.69 and its 200-day simple moving average is $32.65.

BOX announced that its Board of Directors has authorized a stock repurchase program on Tuesday, March 4th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the software maker to repurchase up to 3.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Hedge Funds Weigh In On BOX

A number of institutional investors have recently modified their holdings of BOX. Janney Montgomery Scott LLC raised its position in BOX by 5.3% during the fourth quarter. Janney Montgomery Scott LLC now owns 7,807 shares of the software maker’s stock valued at $247,000 after acquiring an additional 391 shares in the last quarter. Farther Finance Advisors LLC grew its stake in shares of BOX by 19.3% during the 4th quarter. Farther Finance Advisors LLC now owns 2,579 shares of the software maker’s stock worth $81,000 after purchasing an additional 417 shares during the period. Sanctuary Advisors LLC increased its holdings in shares of BOX by 1.2% during the 4th quarter. Sanctuary Advisors LLC now owns 35,775 shares of the software maker’s stock valued at $1,189,000 after purchasing an additional 423 shares in the last quarter. Aspiriant LLC lifted its stake in shares of BOX by 5.0% in the 4th quarter. Aspiriant LLC now owns 9,048 shares of the software maker’s stock valued at $286,000 after purchasing an additional 427 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in BOX by 2.6% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 17,340 shares of the software maker’s stock worth $548,000 after buying an additional 442 shares in the last quarter. Hedge funds and other institutional investors own 86.74% of the company’s stock.

Analysts Set New Price Targets

BOX has been the topic of several recent research reports. Raymond James reaffirmed an “outperform” rating and set a $38.00 target price (down previously from $40.00) on shares of BOX in a research report on Wednesday, March 5th. Bank of America started coverage on BOX in a research note on Thursday, December 12th. They issued a “buy” rating and a $40.00 target price on the stock. StockNews.com lowered shares of BOX from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, January 8th. Royal Bank of Canada restated an “underperform” rating and issued a $21.00 price target on shares of BOX in a report on Wednesday, March 19th. Finally, Citigroup boosted their price objective on shares of BOX from $34.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $37.11.

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.