Insider Selling: BOX (NYSE:BOX) CEO Sells $457,950.00 in Stock

Box, Inc. (NYSE:BOX) CEO Aaron Levie sold 15,000 shares of BOX stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $30.53, for a total transaction of $457,950.00. Following the transaction, the chief executive officer directly owned 2,922,030 shares of the company’s stock, valued at approximately $89,209,575.90. This represents a 0.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

BOX Price Performance

BOX stock opened at $30.12 on Monday. The firm has a market capitalization of $4.31 billion, a P/E ratio of 24.29, a price-to-earnings-growth ratio of 2.39 and a beta of 0.79. Box, Inc. has a 1-year low of $28.00 and a 1-year high of $38.80. The company’s 50-day moving average is $31.58 and its 200 day moving average is $32.69.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BOX. Acadian Asset Management LLC raised its position in shares of BOX by 36.4% in the 2nd quarter. Acadian Asset Management LLC now owns 4,137,447 shares of the software maker’s stock worth $141,345,000 after acquiring an additional 1,104,314 shares in the last quarter. Norges Bank bought a new position in BOX in the second quarter worth about $33,042,000. Qube Research & Technologies Ltd lifted its position in shares of BOX by 240.6% during the second quarter. Qube Research & Technologies Ltd now owns 1,210,237 shares of the software maker’s stock valued at $41,354,000 after buying an additional 854,953 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of BOX during the second quarter valued at about $22,626,000. Finally, Mizuho Markets Americas LLC bought a new stake in shares of BOX in the 3rd quarter valued at about $20,851,000. 86.74% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on BOX shares. Weiss Ratings restated a “hold (c+)” rating on shares of BOX in a report on Wednesday. Royal Bank Of Canada boosted their target price on shares of BOX from $24.00 to $26.00 and gave the company an “underperform” rating in a research note on Wednesday, August 27th. Raymond James Financial reaffirmed an “outperform” rating and issued a $42.00 price target on shares of BOX in a research note on Wednesday, August 27th. Zacks Research lowered shares of BOX from a “strong-buy” rating to a “hold” rating in a report on Friday, September 26th. Finally, DA Davidson restated a “buy” rating and issued a $45.00 target price on shares of BOX in a research note on Wednesday, December 3rd. Five investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $38.00.

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.