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Taking a look at what insiders are doing to gauge the Box Inc (BOX)’s direction

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Box Inc shares valued at $85,467 were sold by Berkovitch Eli on Jun 14 ’24. At $25.90 per share, Berkovitch Eli sold 3,300 shares. The insider’s holdings dropped to 152,372 shares worth approximately $3.85 million following the completion of this transaction.

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Also, Smith Dylan C sold 13,000 shares, netting a total of over 342,953 in proceeds. Following the sale of shares at $26.38 each, the insider now holds 1,552,912 shares.

Before that, Smith Dylan C had sold 13,000 shares from its account. In a trade valued at $339,092, the Chief Financial Officer traded Box Inc shares for $26.08 each. Upon closing the transaction, the insider’s holdings decreased to 13,000 shares, worth approximately $39.57 million.

As published in a research note from Morgan Stanley on May 22, 2024, Box Inc [BOX] has been rated down from an Overweight to an Equal-weight and the price target has been revised to $32 from $35. Analysts at UBS started covering the stock with ‘”a Buy”‘ outlook in a report released in mid December. As of August 30, 2023, Craig Hallum has decreased its “Buy” rating to a “Hold” for BOX. Earlier on January 10, 2023, RBC Capital Mkts downgraded its rating. Their new recommendation was “an Underperform” for BOX stock which previously was a “a Sector perform”.

Analyzing BOX Stock Performance

During the last five days, there has been a drop of approximately -5.92%. Over the course of the year, Box Inc shares have dropped approximately -1.33%. Shares of the company reached a 52-week high of $30.30 on 03/12/24 and a 52-week low of $24.28 on 01/05/24. A 50-day SMA is recorded $26.57, while a 200-day SMA reached $26.15. Nevertheless, trading volume fell to 1.55 million shares from 1.37 million shares the previous day.

Support And Resistance Levels for Box Inc (BOX)

According to the 24-hour chart, there is a support level at 25.07, which, if violated, would cause prices to drop to 24.88. In the upper region, resistance lies at 25.63. The next price resistance is at 26.00. RSI (Relative Strength Index) is 37.86 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.08, which suggests the price will decrease in the coming days. Percent R is at 98.97%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

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