BOX’s (BOX) Underperform Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada restated their underperform rating on shares of BOX (NYSE:BOX) in a research note issued to investors on Wednesday morning,Benzinga reports. The firm currently has a $21.00 price target on the software maker’s stock.

Several other brokerages have also issued reports on BOX. William Blair reiterated an “outperform” rating on shares of BOX in a report on Thursday, November 14th. Citigroup boosted their target price on shares of BOX from $34.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday. StockNews.com raised shares of BOX from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 15th. Morgan Stanley increased their target price on shares of BOX from $33.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Finally, UBS Group boosted their price target on BOX from $34.00 to $42.00 and gave the stock a “buy” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, BOX has a consensus rating of “Moderate Buy” and an average target price of $34.00.

BOX Stock Up 1.4 %

BOX stock opened at $32.49 on Wednesday. BOX has a 12 month low of $23.78 and a 12 month high of $35.74. The company’s fifty day simple moving average is $33.04 and its 200-day simple moving average is $29.91. The stock has a market cap of $4.65 billion, a P/E ratio of 40.61 and a beta of 0.86.

Insider Buying and Selling at BOX

In related news, Director Jack R. Lazar sold 2,500 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $34.75, for a total transaction of $86,875.00. Following the completion of the sale, the director now owns 26,697 shares in the company, valued at $927,720.75. This represents a 8.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Dylan C. Smith sold 13,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $34.21, for a total value of $444,730.00. Following the completion of the sale, the chief financial officer now directly owns 1,461,509 shares in the company, valued at $49,998,222.89. This trade represents a 0.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 51,500 shares of company stock worth $1,711,135 over the last ninety days. Company insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On BOX

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Itau Unibanco Holding S.A. acquired a new stake in BOX in the 3rd quarter worth $36,000. Quarry LP grew its position in BOX by 324.6% during the second quarter. Quarry LP now owns 1,418 shares of the software maker’s stock worth $37,000 after buying an additional 1,084 shares in the last quarter. GAMMA Investing LLC grew its position in BOX by 143.1% during the third quarter. GAMMA Investing LLC now owns 1,337 shares of the software maker’s stock worth $44,000 after buying an additional 787 shares in the last quarter. Toronto Dominion Bank bought a new position in BOX during the second quarter valued at about $53,000. Finally, Nisa Investment Advisors LLC raised its holdings in BOX by 31.7% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,627 shares of the software maker’s stock valued at $69,000 after acquiring an additional 632 shares in the last quarter. Institutional investors own 86.74% of the company’s stock.

About BOX

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.