BOX (NYSE:BOX) Lowered to “Buy” Rating by StockNews.com

StockNews.com cut shares of BOX (NYSE:BOX) from a strong-buy rating to a buy rating in a research report report published on Wednesday morning.

A number of other analysts have also issued reports on the company. DA Davidson initiated coverage on BOX in a research note on Wednesday, December 18th. They issued a “buy” rating and a $45.00 price target on the stock. Bank of America began coverage on shares of BOX in a research note on Thursday, December 12th. They set a “buy” rating and a $40.00 target price on the stock. Citigroup increased their target price on shares of BOX from $34.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. UBS Group raised their price target on shares of BOX from $34.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Finally, William Blair reaffirmed an “outperform” rating on shares of BOX in a research note on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, BOX currently has a consensus rating of “Moderate Buy” and an average price target of $35.89.

BOX Trading Up 0.4 %

Shares of BOX stock opened at $31.29 on Wednesday. BOX has a twelve month low of $24.56 and a twelve month high of $35.74. The firm has a market capitalization of $4.50 billion, a PE ratio of 39.11 and a beta of 0.89. The firm’s 50-day moving average price is $32.93 and its 200 day moving average price is $30.84.

Insider Activity at BOX

In related news, VP Eli Berkovitch sold 4,792 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $32.46, for a total value of $155,548.32. Following the sale, the vice president now directly owns 140,172 shares in the company, valued at approximately $4,549,983.12. The trade was a 3.31 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jack R. Lazar sold 2,500 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were 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 directly owns 26,697 shares in the company, valued at $927,720.75. The trade was a 8.56 % decrease in their position. 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. Insiders own 4.10% of the company’s stock.

Institutional Trading of BOX

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rhumbline Advisers boosted its position in shares of BOX by 1.0% during the second quarter. Rhumbline Advisers now owns 412,962 shares of the software maker’s stock worth $10,919,000 after buying an additional 3,909 shares during the period. Victory Capital Management Inc. grew its position in BOX by 12.3% in the 2nd quarter. Victory Capital Management Inc. now owns 660,836 shares of the software maker’s stock valued at $17,473,000 after acquiring an additional 72,600 shares in the last quarter. Arizona State Retirement System increased its stake in BOX by 2.4% during the second quarter. Arizona State Retirement System now owns 40,412 shares of the software maker’s stock worth $1,068,000 after purchasing an additional 950 shares during the period. Quest Partners LLC acquired a new stake in shares of BOX during the second quarter worth about $95,000. Finally, BOKF NA purchased a new position in shares of BOX in the second quarter valued at approximately $609,000. 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.