BOX (NYSE:BOX) Stock Price Expected to Rise, Citigroup Analyst Says

BOX (NYSE:BOX) had its price target hoisted by investment analysts at Citigroup from $34.00 to $40.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the software maker’s stock. Citigroup’s price target suggests a potential upside of 25.47% from the company’s current price.

Several other equities research analysts have also recently weighed in on the stock. UBS Group increased their price target on shares of BOX from $34.00 to $42.00 and gave the company a “buy” rating in a research report on Wednesday. William Blair restated an “outperform” rating on shares of BOX in a report on Thursday, November 14th. StockNews.com upgraded BOX from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 15th. Royal Bank of Canada reiterated an “underperform” rating and issued a $21.00 price target on shares of BOX in a report on Wednesday, August 28th. Finally, 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 report on Wednesday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.11.

BOX Stock Performance

NYSE:BOX traded down $2.54 during trading hours on Wednesday, reaching $31.88. The company’s stock had a trading volume of 2,289,551 shares, compared to its average volume of 1,993,420. The firm has a 50-day simple moving average of $33.07 and a 200-day simple moving average of $29.84. BOX has a 1 year low of $23.29 and a 1 year high of $35.74. The firm has a market capitalization of $4.57 billion, a price-to-earnings ratio of 40.23 and a beta of 0.86.

Insider Buying and Selling

In related news, Director Jack R. Lazar sold 2,500 shares of the business’s stock in a transaction that occurred on 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 transaction, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Aaron Levie sold 10,000 shares of BOX stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $32.92, for a total value of $329,200.00. Following the completion of the sale, the chief executive officer now directly owns 3,009,155 shares of the company’s stock, 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. Insiders have sold 51,500 shares of company stock worth $1,711,135 in the last 90 days. Insiders own 4.10% of the company’s stock.

Institutional Trading of BOX

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

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.