BOX (NYSE:BOX) Cut to Buy at StockNews.com

StockNews.com cut shares of BOX (NYSE:BOX) from a strong-buy rating to a buy rating in a research note issued to investors on Thursday.

A number of other equities research analysts have also weighed in on the stock. William Blair restated an “outperform” rating on shares of BOX in a report on Thursday, November 14th. Morgan Stanley raised their price objective on shares of BOX from $33.00 to $36.00 and gave the company an “equal weight” rating in a report on Wednesday. Monness Crespi & Hardt upgraded shares of BOX to a “hold” rating in a report on Friday, August 16th. Citigroup raised their price objective on shares of BOX from $34.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Royal Bank of Canada restated an “underperform” rating and issued a $21.00 price objective on shares of BOX in a report on Wednesday. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, BOX has a consensus rating of “Moderate Buy” and a consensus price target of $34.00.

BOX Stock Up 1.4 %

BOX stock opened at $32.50 on Thursday. The firm has a market cap of $4.65 billion, a PE ratio of 40.63 and a beta of 0.86. BOX has a 52-week low of $23.78 and a 52-week high of $35.74. The company’s 50 day moving average is $33.04 and its two-hundred day moving average is $29.93.

Insiders Place Their Bets

In other BOX news, CFO Dylan C. Smith sold 13,000 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $32.89, for a total transaction of $427,570.00. Following the transaction, the chief financial officer now directly owns 1,500,661 shares of the company’s stock, valued at approximately $49,356,740.29. This trade represents a 0.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Aaron Levie sold 10,000 shares of BOX stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $32.92, for a total transaction of $329,200.00. Following the completion of the sale, the chief executive officer now directly owns 3,009,155 shares in the company, valued at approximately $99,061,382.60. The trade was a 0.33 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 51,500 shares of company stock valued at $1,711,135. Insiders own 4.10% of the company’s stock.

Institutional Trading of BOX

Several hedge funds and other institutional investors have recently made changes to their positions in BOX. Itau Unibanco Holding S.A. purchased a new stake in shares of BOX in the third quarter valued at about $36,000. Quarry LP boosted its holdings in shares of BOX by 324.6% in the second quarter. Quarry LP now owns 1,418 shares of the software maker’s stock valued at $37,000 after acquiring an additional 1,084 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of BOX by 143.1% in the third quarter. GAMMA Investing LLC now owns 1,337 shares of the software maker’s stock valued at $44,000 after acquiring an additional 787 shares in the last quarter. Toronto Dominion Bank purchased a new stake in shares of BOX in the second quarter valued at about $53,000. Finally, Nisa Investment Advisors LLC boosted its holdings in shares of BOX by 31.7% in the second 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. Hedge funds and other 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.