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

Box, Inc. (NYSE:BOX) VP Eli Berkovitch sold 5,651 shares of the company’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $30.66, for a total transaction of $173,259.66. Following the completion of the transaction, the vice president now owns 124,672 shares of the company’s stock, valued at $3,822,443.52. This trade represents a 4.34 % decrease in their ownership of the stock. The sale was disclosed in a filing 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 Stock Up 0.8 %

Shares of BOX opened at $30.99 on Thursday. The stock has a market cap of $4.46 billion, a price-to-earnings ratio of 38.74, a PEG ratio of 4.42 and a beta of 1.00. Box, Inc. has a 52 week low of $24.63 and a 52 week high of $35.74. The business has a 50-day simple moving average of $32.70 and a two-hundred day simple moving average of $32.67.

BOX announced that its board has approved a share buyback plan on Tuesday, March 4th that allows the company to buyback $150.00 million in outstanding shares. This buyback authorization allows the software maker to purchase up to 3.1% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on BOX shares. Morgan Stanley increased their price objective on BOX from $33.00 to $36.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 4th. JPMorgan Chase & Co. dropped their target price on shares of BOX from $38.00 to $37.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 5th. Citigroup boosted their price objective on shares of BOX from $34.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. UBS Group increased their target price on BOX from $34.00 to $42.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, StockNews.com downgraded shares of BOX from a “strong-buy” rating to a “buy” rating in a report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, BOX currently has a consensus rating of “Moderate Buy” and an average price target of $37.11.

Hedge Funds Weigh In On BOX

Hedge funds have recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC raised its position in shares of BOX by 10.5% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 7,127 shares of the software maker’s stock valued at $225,000 after buying an additional 679 shares during the last quarter. Mackenzie Financial Corp lifted its position in BOX by 28.2% during the fourth quarter. Mackenzie Financial Corp now owns 341,606 shares of the software maker’s stock valued at $10,795,000 after purchasing an additional 75,041 shares during the last quarter. Vise Technologies Inc. raised its position in shares of BOX by 38.5% during the 4th quarter. Vise Technologies Inc. now owns 8,540 shares of the software maker’s stock valued at $270,000 after buying an additional 2,372 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in BOX by 20.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 445,096 shares of the software maker’s stock worth $14,065,000 after acquiring an additional 75,098 shares in the last quarter. Finally, Woodline Partners LP increased its stake in BOX by 63.3% during the fourth quarter. Woodline Partners LP now owns 15,294 shares of the software maker’s stock worth $483,000 after acquiring an additional 5,930 shares during the last quarter. Institutional investors own 86.74% of the company’s stock.

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.