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

Box, Inc. (NYSE:BOX) VP Eli Berkovitch sold 5,651 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $30.66, for a total value of $173,259.66. Following the completion of the transaction, the vice president now directly owns 124,672 shares in the company, valued at approximately $3,822,443.52. This trade represents a 4.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

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 Trading Up 2.0 %

Shares of BOX stock opened at $31.61 on Friday. The company has a market capitalization of $4.55 billion, a P/E ratio of 39.52, a price-to-earnings-growth ratio of 4.42 and a beta of 1.00. The stock has a fifty day simple moving average of $32.70 and a 200 day simple moving average of $32.66. Box, Inc. has a 12-month low of $24.63 and a 12-month high of $35.74.

BOX announced that its Board of Directors has approved a stock buyback plan on Tuesday, March 4th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the software maker to buy up to 3.1% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its stake in BOX by 10.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,371,815 shares of the software maker’s stock valued at $44,900,000 after buying an additional 134,175 shares during the last quarter. Beacon Harbor Wealth Advisors Inc. purchased a new stake in shares of BOX during the fourth quarter valued at approximately $5,997,000. Townsquare Capital LLC bought a new stake in BOX during the third quarter worth $2,021,000. Robeco Institutional Asset Management B.V. purchased a new position in BOX in the fourth quarter worth $981,000. Finally, Petrus Trust Company LTA bought a new position in BOX in the 3rd quarter valued at $615,000. 86.74% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on BOX shares. Morgan Stanley increased their target price on shares of BOX from $33.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 4th. Bank of America started coverage on BOX in a research note on Thursday, December 12th. They issued a “buy” rating and a $40.00 target price for the company. JPMorgan Chase & Co. decreased their target price on BOX from $38.00 to $37.00 and set an “overweight” rating for the company in a research report on Wednesday, March 5th. Citigroup increased their price target on BOX from $34.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, DA Davidson restated a “buy” rating and set a $45.00 price objective on shares of BOX in a report on Wednesday, March 19th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $37.11.

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.