Box, Inc. (NYSE:BOX) COO Olivia Nottebohm Sells 1,329 Shares

Box, Inc. (NYSE:BOX) COO Olivia Nottebohm sold 1,329 shares of the business’s stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $37.43, for a total value of $49,744.47. Following the transaction, the chief operating officer now directly owns 554,682 shares in the company, valued at approximately $20,761,747.26. This represents a 0.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Olivia Nottebohm also recently made the following trade(s):

• On Friday, May 9th, Olivia Nottebohm sold 3,434 shares of BOX stock. The shares were sold at an average price of $31.54, for a total value of $108,308.36.
• On Monday, April 21st, Olivia Nottebohm sold 2,105 shares of BOX stock. The shares were sold at an average price of $29.52, for a total value of $62,139.60.
• On Monday, April 7th, Olivia Nottebohm sold 1,332 shares of BOX stock. The shares were sold at an average price of $29.01, for a total value of $38,641.32.
• On Tuesday, March 25th, Olivia Nottebohm sold 2,105 shares of BOX stock. The shares were sold at an average price of $30.76, for a total value of $64,749.80.

BOX Trading Down 0.8%

Shares of BOX stock opened at $35.55 on Friday. Box, Inc. has a twelve month low of $24.63 and a twelve month high of $38.80. The stock has a fifty day simple moving average of $32.50 and a two-hundred day simple moving average of $32.38. The stock has a market capitalization of $5.11 billion, a price-to-earnings ratio of 44.43, a P/E/G ratio of 4.42 and a beta of 0.94.

BOX (NYSE:BOX) last posted its quarterly earnings results on Tuesday, May 27th. The software maker reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.05. BOX had a negative return on equity of 17.20% and a net margin of 13.96%. The business had revenue of $276.27 million for the quarter, compared to the consensus estimate of $274.77 million. During the same quarter in the prior year, the company earned $0.39 EPS. The business’s revenue was up 4.4% compared to the same quarter last year. Research analysts predict that Box, Inc. will post 0.27 EPS for the current fiscal year.

BOX declared that its board has initiated a share repurchase program on Tuesday, March 4th that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the software maker to reacquire up to 3.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.

Hedge Funds Weigh In On BOX

A number of hedge funds and other institutional investors have recently made changes to their positions in BOX. TCTC Holdings LLC grew its position in shares of BOX by 115.4% during the 1st quarter. TCTC Holdings LLC now owns 825 shares of the software maker’s stock worth $25,000 after buying an additional 442 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its position in shares of BOX by 332.5% during the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 865 shares of the software maker’s stock worth $27,000 after buying an additional 665 shares in the last quarter. MorganRosel Wealth Management LLC bought a new position in shares of BOX during the 1st quarter worth $31,000. Geneos Wealth Management Inc. bought a new position in shares of BOX during the 1st quarter worth $31,000. Finally, Versant Capital Management Inc grew its position in shares of BOX by 519.4% during the 1st quarter. Versant Capital Management Inc now owns 1,951 shares of the software maker’s stock worth $60,000 after buying an additional 1,636 shares in the last quarter. Institutional investors own 86.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. UBS Group raised BOX from a “buy” rating to a “strong-buy” rating and boosted their target price for the company from $37.00 to $40.00 in a research report on Wednesday, May 28th. Wall Street Zen raised BOX from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, May 14th. Raymond James reaffirmed an “outperform” rating and issued a $42.00 price objective (up previously from $38.00) on shares of BOX in a research report on Wednesday, May 28th. Morgan Stanley reaffirmed a “positive” rating on shares of BOX in a research report on Wednesday, May 28th. Finally, Royal Bank of Canada upped their price objective on BOX from $21.00 to $24.00 and gave the company an “underperform” rating in a research report on Wednesday, May 28th. One research analyst has rated the stock with a sell rating, one has given a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $38.50.

About BOX

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.