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

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 sale, the chief executive officer now owns 2,979,780 shares of the company’s stock, valued at $95,591,342.40. This trade represents a 0.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

BOX Stock Performance

BOX stock opened at $30.36 on Friday. Box, Inc. has a one year low of $24.63 and a one year high of $35.74. The company’s fifty day moving average price is $32.81 and its 200-day moving average price is $32.74. The company has a market capitalization of $4.36 billion, a PE ratio of 37.95, a price-to-earnings-growth ratio of 4.42 and a beta of 1.00.

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

Hedge Funds Weigh In On BOX

Several hedge funds have recently modified their holdings of BOX. Arrowstreet Capital Limited Partnership lifted its holdings in shares of BOX by 103.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,386,370 shares of the software maker’s stock worth $107,009,000 after buying an additional 1,725,197 shares in the last quarter. Norges Bank purchased a new position in shares of BOX in the fourth quarter worth $29,973,000. Jupiter Asset Management Ltd. purchased a new position in shares of BOX in the fourth quarter worth $24,234,000. Fisher Asset Management LLC lifted its holdings in shares of BOX by 420.6% in the fourth quarter. Fisher Asset Management LLC now owns 857,498 shares of the software maker’s stock worth $27,097,000 after buying an additional 692,784 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in shares of BOX by 22.9% in the fourth quarter. Wells Fargo & Company MN now owns 1,633,647 shares of the software maker’s stock worth $51,623,000 after buying an additional 304,755 shares in the last quarter. Hedge funds and other institutional investors own 86.74% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on BOX shares. Raymond James restated an “outperform” rating and set a $38.00 target price (down from $40.00) on shares of BOX in a research report on Wednesday, March 5th. Royal Bank of Canada restated an “underperform” rating and set a $21.00 target price on shares of BOX in a research report on Wednesday, December 4th. UBS Group boosted their target price on shares of BOX from $34.00 to $42.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Citigroup boosted their target price on shares of BOX from $34.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Finally, StockNews.com lowered shares of BOX from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, BOX presently has a consensus rating of “Moderate Buy” and an average 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.