Box Inc COO Olivia Nottebohm sells $209,257 in shares

In a recent transaction, Olivia Nottebohm, the Chief Operating Officer of Box Inc (NYSE:BOX), sold 6,079 shares of the company’s Class A Common Stock. The shares were sold at a weighted average price of $34.423, with the price per share ranging from $34.26 to $34.60. The sale comes as Box trades near its 52-week high of $35.74, having delivered an impressive 26% return over the past six months. InvestingPro data shows the company maintains robust gross profit margins of 78.4%. This sale, which totaled approximately $209,257, was conducted under a pre-established Rule 10b5-1 trading plan adopted by Nottebohm in September 2024.

Following this transaction, Nottebohm holds 440,988 shares in the company. Some of these shares are represented by restricted stock units, which are subject to vesting schedules and continuous service requirements.

In other recent news, RBC Capital Markets’ 2025 CIO Survey has indicated a positive outlook for IT spending, notably in software and GenAI initiatives. The survey reported an increase in IT spending intentions, with a significant rise in software investment anticipation. GenAI projects are being implemented by 39% of respondents, with a further 43% planning to do so within six months. Despite this, data privacy remains a major concern associated with GenAI.

In other developments, Box Inc has revised its credit agreement with Wells Fargo (NYSE:WFC) Bank, reducing its revolving credit commitments from $150 million to $75 million. The company’s Board of Directors also approved performance-based restricted stock units for CEO Aaron Levie, covering 600,000 shares of Class A common stock. The grant aims to incentivize Levie to continue leading the company and align his interests with shareholders.

DA Davidson has initiated coverage on Box Inc shares with a Buy rating and a price target of $45.00. The firm anticipates a surge in upgrades from existing customers moving to more premium tiers of the Box platform, contributing to higher growth and improved profit margins. In contrast, RBC Capital maintained its Underperform rating on Box Inc with an unchanged price target of $21.00, expressing caution about the timing of potential Enterprise Agreement SKU upgrades. Meanwhile, Raymond (NSE:RYMD) James maintained an Outperform rating on Box Inc, increasing the price target to $40.00, citing steady metrics and rising margins.

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