BOX (BOX) Shares Down 5.5% on Insider Selling

Box, Inc. (NYSE:BOX) shares traded down 5.5% during mid-day trading on Tuesday after an insider sold shares in the company. The stock traded as low as $19.56 and last traded at $19.75. 3,746,800 shares traded hands during mid-day trading, an increase of 126% from the average session volume of 1,659,002 shares. The stock had previously closed at $20.89.

Specifically, Director Rory O’driscoll sold 600,000 shares of BOX stock in a transaction dated Tuesday, December 5th. The stock was sold at an average price of $20.50, for a total value of $12,300,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Jeff Mannie sold 6,145 shares of BOX stock in a transaction dated Thursday, September 28th. The shares were sold at an average price of $19.00, for a total value of $116,755.00. The disclosure for this sale can be found here. Insiders sold 1,512,090 shares of company stock valued at $29,445,738 over the last 90 days. 22.30% of the stock is currently owned by corporate insiders.

BOX has been the subject of a number of recent research reports. BidaskClub upgraded shares of BOX from a “hold” rating to a “buy” rating in a report on Wednesday, August 23rd. Mitsubishi UFJ Financial Group upgraded shares of BOX to an “overweight” rating and boosted their target price for the stock from $23.00 to $24.00 in a report on Thursday, August 31st. Raymond James Financial upgraded shares of BOX from a “market perform” rating to an “outperform” rating and set a $26.00 target price for the company in a report on Monday, September 25th. Drexel Hamilton reiterated a “buy” rating and issued a $28.00 target price on shares of BOX in a report on Monday, November 27th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $25.00 target price on shares of BOX in a report on Monday, October 9th. Three research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $24.24.

The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.58.

BOX (NYSE:BOX) last posted its quarterly earnings data on Wednesday, November 29th. The software maker reported ($0.13) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.13). BOX had a negative net margin of 33.20% and a negative return on equity of 270.51%. The firm had revenue of $129.30 million for the quarter, compared to the consensus estimate of $128.67 million. During the same quarter in the prior year, the company posted ($0.14) earnings per share. The company’s revenue for the quarter was up 25.8% compared to the same quarter last year. sell-side analysts expect that Box, Inc. will post -1.17 earnings per share for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of BOX. Bares Capital Management Inc. boosted its position in BOX by 10.1% in the third quarter. Bares Capital Management Inc. now owns 6,391,461 shares of the software maker’s stock valued at $123,483,000 after buying an additional 588,875 shares during the last quarter. Sterling Capital Management LLC boosted its position in BOX by 16.0% in the third quarter. Sterling Capital Management LLC now owns 119,223 shares of the software maker’s stock valued at $2,303,000 after buying an additional 16,462 shares during the last quarter. Crestline Management LP purchased a new stake in BOX in the third quarter valued at approximately $2,146,000. Cornerstone Capital Management Holdings LLC. purchased a new stake in BOX in the third quarter valued at approximately $1,473,000. Finally, Lyon Street Capital LLC purchased a new stake in BOX in the third quarter valued at approximately $2,415,000. Hedge funds and other institutional investors own 63.42% of the company’s stock.

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BOX Company Profile

Box, Inc provides an enterprise content management platform that enables organizations of all sizes to manage enterprise content while allowing access and sharing of this content from anywhere, on any device. With the Company’s Software-as-a-Service (SaaS) cloud-based platform, users can collaborate on content both internally and with external parties, automate content-driven business processes, develop custom applications, and implement data protection, security and compliance features to comply with internal policies and industry regulations.

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