BOX (NYSE:BOX) Rating Increased to Strong-Buy at StockNews.com

BOX (NYSE:BOX) was upgraded by stock analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Friday.

Other research analysts have also issued reports about the company. Citigroup increased their target price on BOX from $34.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Monness Crespi & Hardt upgraded BOX to a “hold” rating in a report on Friday, August 16th. Royal Bank of Canada restated an “underperform” rating and issued a $21.00 price target on shares of BOX in a report on Wednesday, December 4th. William Blair reiterated an “outperform” rating on shares of BOX in a research note on Thursday, November 14th. Finally, Bank of America began coverage on shares of BOX in a research note on Thursday. They issued a “buy” rating and a $40.00 target price on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, BOX has a consensus rating of “Moderate Buy” and an average target price of $34.75.

BOX Stock Performance

Shares of BOX opened at $32.49 on Friday. The company has a market capitalization of $4.67 billion, a PE ratio of 40.61 and a beta of 0.86. The stock has a fifty day moving average of $33.10 and a two-hundred day moving average of $30.18. BOX has a fifty-two week low of $24.28 and a fifty-two week high of $35.74.

Insider Transactions at BOX

In other news, CFO Dylan C. Smith sold 13,000 shares of the business’s stock in a transaction 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 approximately $49,998,222.89. The trade was a 0.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jack R. Lazar sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $34.75, for a total value of $86,875.00. Following the completion of the sale, the director now directly owns 26,697 shares in the company, valued at approximately $927,720.75. This represents a 8.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 57,386 shares of company stock valued at $1,891,350 over the last three months. 4.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On BOX

Several institutional investors and hedge funds have recently added to or reduced their stakes in BOX. Earnest Partners LLC boosted its stake in BOX by 8.5% during the second quarter. Earnest Partners LLC now owns 7,960,924 shares of the software maker’s stock worth $210,487,000 after buying an additional 620,450 shares in the last quarter. State Street Corp increased its stake in BOX by 1.2% in the third quarter. State Street Corp now owns 5,623,032 shares of the software maker’s stock valued at $184,042,000 after acquiring an additional 69,107 shares during the period. Geode Capital Management LLC raised its position in BOX by 0.4% in the third quarter. Geode Capital Management LLC now owns 3,249,823 shares of the software maker’s stock worth $106,387,000 after purchasing an additional 13,028 shares in the last quarter. Sei Investments Co. lifted its stake in BOX by 4.2% during the second quarter. Sei Investments Co. now owns 3,078,857 shares of the software maker’s stock worth $81,405,000 after purchasing an additional 125,435 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in BOX by 9.8% during the second quarter. Dimensional Fund Advisors LP now owns 2,564,668 shares of the software maker’s stock valued at $67,809,000 after purchasing an additional 229,314 shares in the last quarter. 86.74% of the stock is currently owned by institutional investors.

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.