BOX (NYSE:BOX) VP Eli Berkovitch Sells 24,500 Shares

Box, Inc. (NYSE:BOX) VP Eli Berkovitch sold 24,500 shares of the company’s stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $23.85, for a total transaction of $584,325.00. Following the transaction, the vice president owned 95,516 shares in the company, valued at approximately $2,278,056.60. The trade was a 20.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

BOX Trading Down 3.3%

BOX opened at $23.22 on Thursday. The company’s fifty day moving average price is $24.06 and its two-hundred day moving average price is $28.32. Box, Inc. has a 1-year low of $21.61 and a 1-year high of $38.80. The company has a market cap of $3.21 billion, a price-to-earnings ratio of 39.35, a PEG ratio of 1.23 and a beta of 0.71.

BOX (NYSE:BOX) last released its quarterly earnings data on Tuesday, March 3rd. The software maker reported $0.49 earnings per share for the quarter, topping 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 the consensus estimate of $305.64 million. During the same quarter in the prior year, the company posted $0.42 earnings per share. The business’s revenue was up 9.4% on a year-over-year basis. As a group, equities analysts forecast that Box, Inc. will post 0.27 earnings per share for the current fiscal year.

BOX declared that its board has authorized a stock buyback program on Thursday, March 19th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the software maker to reacquire up to 14.2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Institutional Trading of BOX

A number of large investors have recently added to or reduced their stakes in the stock. First Horizon Corp increased its holdings in BOX by 148.1% during the fourth quarter. First Horizon Corp now owns 831 shares of the software maker’s stock worth $25,000 after buying an additional 496 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in BOX during the fourth quarter worth about $26,000. Geneos Wealth Management Inc. purchased a new stake in BOX during the first quarter worth about $31,000. Salomon & Ludwin LLC purchased a new stake in BOX during the third quarter worth about $32,000. Finally, Employees Retirement System of Texas purchased a new stake in BOX during the third quarter worth about $35,000. Hedge funds and other institutional investors own 86.74% of the company’s stock.

Wall Street Analyst Weigh In

BOX has been the subject of several analyst reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of BOX in a report on Monday, December 29th. Morgan Stanley lowered their target price on shares of BOX from $38.00 to $33.00 and set an “equal weight” rating for the company in a report on Thursday, March 12th. Citigroup dropped their target price on shares of BOX from $40.00 to $36.00 and set a “buy” rating on the stock in a research report on Wednesday, March 4th. Wall Street Zen cut shares of BOX from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 28th. Finally, William Blair reissued a “market perform” rating on shares of BOX in a research report on Monday, March 23rd. Four 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 MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $35.57.

BOX Company Profile

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.