BOX (NYSE:BOX) Coverage Initiated at Bank of America

Bank of America began coverage on shares of BOX (NYSE:BOX) in a report issued on Thursday morning, Marketbeat.com reports. The firm issued a buy rating and a $40.00 price objective on the software maker’s stock.

A number of other equities research analysts have also commented on BOX. StockNews.com lowered BOX from a “strong-buy” rating to a “buy” rating in a research report on Thursday, December 5th. William Blair reissued an “outperform” rating on shares of BOX in a research report on Thursday, November 14th. Morgan Stanley upped their price objective on shares of BOX from $33.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 4th. Royal Bank of Canada reiterated an “underperform” rating and issued a $21.00 price objective on shares of BOX in a research note on Wednesday, December 4th. Finally, Monness Crespi & Hardt upgraded BOX to a “hold” rating in a research note on Friday, August 16th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $34.75.

BOX Stock Down 1.6 %

Shares of BOX stock opened at $32.49 on Thursday. BOX has a 52 week low of $24.28 and a 52 week high of $35.74. The business has a 50 day moving average price of $33.10 and a 200-day moving average price of $30.18. The company has a market cap of $4.67 billion, a PE ratio of 40.61 and a beta of 0.86.

Insider Activity at BOX

In other BOX news, Director Jack R. Lazar sold 2,500 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $34.75, for a total value of $86,875.00. Following the sale, the director now directly owns 26,697 shares in the company, valued at $927,720.75. The trade was a 8.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Dylan C. Smith sold 13,000 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $32.33, for a total value of $420,290.00. Following the transaction, the chief financial officer now owns 1,448,509 shares of the company’s stock, valued at $46,830,295.97. The trade was a 0.89 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 57,386 shares of company stock worth $1,891,350. Insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On BOX

Large investors have recently modified their holdings of the business. Itau Unibanco Holding S.A. purchased a new stake in shares of BOX during the 3rd quarter valued at approximately $36,000. Quarry LP lifted its position in shares of 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 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 worth $44,000 after acquiring an additional 787 shares during the period. Toronto Dominion Bank purchased a new position in shares of BOX in the second quarter valued at $53,000. Finally, Nisa Investment Advisors LLC grew its position 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 purchasing an additional 632 shares in the last quarter. Hedge funds and other institutional investors own 86.74% of the company’s stock.

BOX Company Profile

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.