BOX (NYSE:BOX) Shares Down 4.7% – Here’s What Happened

Box, Inc. (NYSE:BOX) shares were down 4.7% during trading on Wednesday . The stock traded as low as $32.12 and last traded at $32.80. Approximately 977,677 shares traded hands during mid-day trading, a decline of 51% from the average daily volume of 1,988,073 shares. The stock had previously closed at $34.42.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Monness Crespi & Hardt raised BOX to a “hold” rating in a research note on Friday, August 16th. StockNews.com upgraded shares of BOX from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 15th. William Blair reiterated an “outperform” rating on shares of BOX in a research report on Thursday, November 14th. Morgan Stanley raised their price objective on shares of BOX from $33.00 to $36.00 and gave the company an “equal weight” rating in a research report on Wednesday. Finally, Royal Bank of Canada restated an “underperform” rating and issued a $21.00 price objective on shares of BOX in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, BOX currently has an average rating of “Moderate Buy” and a consensus price target of $33.11.

BOX Price Performance

The business’s 50 day moving average is $33.07 and its two-hundred day moving average is $29.84. The firm has a market capitalization of $4.56 billion, a PE ratio of 40.61 and a beta of 0.86.

Insiders Place Their Bets

In other news, Director Jack R. Lazar sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $34.75, for a total value of $86,875.00. Following the transaction, the director now owns 26,697 shares in the company, valued at approximately $927,720.75. This trade represents a 8.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Aaron Levie sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $32.92, for a total transaction of $329,200.00. Following the completion of the transaction, the chief executive officer now owns 3,009,155 shares in the company, valued at $99,061,382.60. This represents a 0.33 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 51,500 shares of company stock valued at $1,711,135. 4.10% of the stock is currently owned by corporate insiders.

Institutional Trading of BOX

Large investors have recently added to or reduced their stakes in the stock. Itau Unibanco Holding S.A. bought a new stake in BOX in the third quarter valued at $36,000. GAMMA Investing LLC boosted its holdings in BOX by 143.1% in the third quarter. GAMMA Investing LLC now owns 1,337 shares of the software maker’s stock valued at $44,000 after acquiring an additional 787 shares in the last quarter. Quarry LP boosted its holdings in BOX by 324.6% in the second quarter. Quarry LP now owns 1,418 shares of the software maker’s stock valued at $37,000 after acquiring an additional 1,084 shares in the last quarter. Toronto Dominion Bank bought a new stake in BOX in the second quarter valued at $53,000. Finally, Farther Finance Advisors LLC boosted its holdings in BOX by 245.4% in the third quarter. Farther Finance Advisors LLC now owns 2,162 shares of the software maker’s stock valued at $71,000 after acquiring an additional 1,536 shares in the last quarter. Institutional investors own 86.74% of the company’s stock.

BOX Company Profile

Box, Inc provides a cloud content management platform that enables organizations of various sizes to manage and share their content from anywhere on any device. The company's Software-as-a-Service platform enables users to work with their content as they need from secure external collaboration and sharing, workspaces and portals, e-signature processes, and content workflows improving employee productivity and accelerating business processes.