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 published on Wednesday morning.

A number of other equities research analysts have also recently commented on the company. William Blair reissued an “outperform” rating on shares of BOX in a research note on Thursday, November 14th. Morgan Stanley boosted their price target on shares of BOX from $33.00 to $36.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 4th. Bank of America initiated coverage on shares of BOX in a report on Thursday, December 12th. They set a “buy” rating and a $40.00 price objective on the stock. Royal Bank of Canada reiterated an “underperform” rating and set a $21.00 price objective on shares of BOX in a report on Wednesday, December 4th. Finally, UBS Group upped their target price on shares of BOX from $34.00 to $42.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, BOX presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.89.

BOX Trading Down 1.6 %

NYSE:BOX opened at $30.82 on Wednesday. The firm has a fifty day simple moving average of $32.92 and a two-hundred day simple moving average of $30.84. BOX has a 12 month low of $24.56 and a 12 month high of $35.74. The stock has a market capitalization of $4.43 billion, a price-to-earnings ratio of 38.53 and a beta of 0.89.

Insider Buying and Selling

In other news, Director Jack R. Lazar sold 2,500 shares of the stock in a transaction 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 transaction, the director now owns 26,697 shares in the company, valued at approximately $927,720.75. This represents a 8.56 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Aaron Levie sold 10,000 shares of the business’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $32.54, for a total value of $325,400.00. Following the completion of the sale, the chief executive officer now owns 2,999,155 shares in the company, valued at $97,592,503.70. This represents a 0.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 61,592 shares of company stock worth $2,019,524. 4.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On BOX

Several hedge funds and other institutional investors have recently modified their holdings of BOX. Charles Schwab Investment Management Inc. increased its holdings in shares of BOX by 10.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,371,815 shares of the software maker’s stock worth $44,900,000 after buying an additional 134,175 shares during the last quarter. Bank of Montreal Can lifted its holdings in BOX by 16.0% in the 2nd quarter. Bank of Montreal Can now owns 351,850 shares of the software maker’s stock worth $9,514,000 after buying an additional 48,633 shares during the period. Versor Investments LP purchased a new position in BOX during the 3rd quarter valued at $1,221,000. Townsquare Capital LLC bought a new position in BOX in the third quarter worth about $2,021,000. Finally, Petrus Trust Company LTA bought a new position in shares of BOX in the 3rd quarter worth approximately $615,000. 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.