BOX (NYSE:BOX) Reaches New 1-Year Low – Here’s What Happened

Box, Inc. (NYSE:BOX) shares reached a new 52-week low on Wednesday . The stock traded as low as $27.76 and last traded at $28.0070, with a volume of 184033 shares changing hands. The stock had previously closed at $28.19.

Analyst Ratings Changes

A number of research firms have commented on BOX. Zacks Research downgraded shares of BOX from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 26th. UBS Group lowered BOX from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $42.00 to $36.00 in a report on Thursday, September 18th. Weiss Ratings reissued a “hold (c+)” rating on shares of BOX in a report on Monday, December 29th. Finally, DA Davidson restated a “buy” rating and set a $45.00 price target on shares of BOX in a research note on Wednesday, December 3rd. Five analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $38.00.

BOX Stock Down 2.7%

The company has a fifty day simple moving average of $30.11 and a 200-day simple moving average of $31.64. The firm has a market cap of $3.70 billion, a P/E ratio of 20.85, a price-to-earnings-growth ratio of 2.17 and a beta of 0.80.

Insider Activity at BOX

In related news, VP Eli Berkovitch sold 5,163 shares of the stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $29.96, for a total value of $154,683.48. Following the completion of the sale, the vice president directly owned 123,684 shares of the company’s stock, valued at approximately $3,705,572.64. This represents a 4.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jack R. Lazar sold 2,500 shares of the firm’s stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $31.77, for a total transaction of $79,425.00. Following the sale, the director owned 25,355 shares in the company, valued at $805,528.35. The trade was a 8.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 87,499 shares of company stock worth $2,689,178 in the last quarter. 3.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On BOX

Several large investors have recently made changes to their positions in the business. Acadian Asset Management LLC grew its position in shares of BOX by 36.4% during the second quarter. Acadian Asset Management LLC now owns 4,137,447 shares of the software maker’s stock worth $141,345,000 after purchasing an additional 1,104,314 shares in the last quarter. Norges Bank purchased a new stake in BOX during the 2nd quarter valued at approximately $33,042,000. Qube Research & Technologies Ltd raised 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 position in shares of BOX in the second quarter worth $22,626,000. Finally, Mizuho Markets Americas LLC bought a new position in shares of BOX during the third quarter worth $20,851,000. 86.74% of the stock is currently owned by hedge funds and other institutional investors.

BOX Company Profile

Box, Inc is a leading provider of cloud content management and file sharing solutions designed to support enterprises in securely managing, accessing and collaborating on digital content from anywhere. The company offers a unified platform that enables organizations to store, share and automate workflows across various departments, enhancing productivity and ensuring governance over sensitive information. Box’s services are tailored to meet the needs of industries such as healthcare, financial services, government and media, where compliance and data security are paramount.

The core offerings of Box include its Content Cloud platform, which provides content collaboration, workflow automation, data classification and secure file sharing.