Insider Selling: Box, Inc. (BOX) President Sells 57,444 Shares of Stock
Box, Inc. (NYSE:BOX) President Daniel J. Levin sold 57,444 shares of Box stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $18.43, for a total value of $1,058,692.92. Following the sale, the president now owns 3,752 shares of the company’s stock, valued at $69,149.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of Box, Inc. (NYSE BOX) traded down 0.38% during trading on Wednesday, hitting $18.29. The stock had a trading volume of 2,535,561 shares. The company’s 50 day moving average price is $19.13 and its 200 day moving average price is $18.09. The stock’s market cap is $2.40 billion. Box, Inc. has a 12 month low of $13.50 and a 12 month high of $20.91.
Box (NYSE:BOX) last posted its earnings results on Wednesday, August 30th. The software maker reported ($0.11) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.13) by $0.02. Box had a negative return on equity of 207.36% and a negative net margin of 34.11%. The firm had revenue of $122.94 million for the quarter, compared to analyst estimates of $121.75 million. During the same quarter in the prior year, the company earned ($0.14) EPS. Box’s revenue was up 28.4% on a year-over-year basis. Equities research analysts expect that Box, Inc. will post ($0.45) earnings per share for the current fiscal year.
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A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in Box by 79.0% during the 2nd quarter. Vanguard Group Inc. now owns 7,977,960 shares of the software maker’s stock worth $145,518,000 after purchasing an additional 3,521,030 shares during the period. Bares Capital Management Inc. increased its holdings in Box by 2.7% during the 1st quarter. Bares Capital Management Inc. now owns 5,926,050 shares of the software maker’s stock worth $96,654,000 after purchasing an additional 157,644 shares during the period. Wells Fargo & Company MN increased its holdings in Box by 3,627.5% during the 2nd quarter. Wells Fargo & Company MN now owns 3,462,849 shares of the software maker’s stock worth $63,162,000 after purchasing an additional 3,369,948 shares during the period. First Trust Advisors LP increased its holdings in Box by 32.2% during the 2nd quarter. First Trust Advisors LP now owns 2,859,338 shares of the software maker’s stock worth $52,154,000 after purchasing an additional 697,214 shares during the period. Finally, Renaissance Technologies LLC increased its holdings in Box by 62.5% during the 2nd quarter. Renaissance Technologies LLC now owns 2,510,200 shares of the software maker’s stock worth $45,786,000 after purchasing an additional 965,800 shares during the period. Institutional investors own 57.81% of the company’s stock.
Several analysts have recently weighed in on BOX shares. BidaskClub upgraded Box from a “hold” rating to a “buy” rating in a research report on Wednesday, August 23rd. Wells Fargo & Company reiterated an “outperform” rating and set a $27.00 target price (up from $24.00) on shares of Box in a research report on Thursday, June 1st. Morgan Stanley reiterated an “equal weight” rating and set a $20.00 target price (up from $19.00) on shares of Box in a research report on Thursday, June 1st. Mitsubishi UFJ Financial Group upgraded Box from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $17.50 to $23.00 in a research report on Thursday, June 1st. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $25.00 target price on shares of Box in a research report on Friday, September 1st. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $22.40.
Box Company Profile
Box, Inc provides an enterprise content management platform that enables organizations of all sizes to manage enterprise content while allowing access and sharing of this content from anywhere, on any device. With the Company’s Software-as-a-Service (SaaS) cloud-based platform, users can collaborate on content both internally and with external parties, automate content-driven business processes, develop custom applications, and implement data protection, security and compliance features to comply with internal policies and industry regulations.
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