BOX (NYSE:BOX) Sets New 1-Year High – Here’s Why

Shares of Box, Inc. (NYSE:BOX) hit a new 52-week high during trading on Wednesday . The stock traded as high as $35.03 and last traded at $34.95, with a volume of 381013 shares. The stock had previously closed at $34.24.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BOX. William Blair restated an “outperform” rating on shares of BOX in a research note on Thursday. Royal Bank of Canada reaffirmed an “underperform” rating and set a $21.00 price objective on shares of BOX in a report on Wednesday, August 28th. UBS Group increased their target price on BOX from $31.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. StockNews.com upgraded BOX from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 15th. Finally, Monness Crespi & Hardt raised BOX to a “hold” rating in a report on Friday, August 16th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, BOX presently has a consensus rating of “Moderate Buy” and an average target price of $31.22.

BOX Trading Down 1.1 %

The firm’s 50 day simple moving average is $32.68 and its two-hundred day simple moving average is $29.08. The firm has a market cap of $4.91 billion, a price-to-earnings ratio of 43.39 and a beta of 0.85.

BOX (NYSE:BOX) last announced its quarterly earnings data on Tuesday, August 27th. The software maker reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.04. The firm had revenue of $270.04 million for the quarter, compared to the consensus estimate of $269.52 million. BOX had a net margin of 13.94% and a negative return on equity of 14.41%. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.01 earnings per share. As a group, equities research analysts anticipate that Box, Inc. will post 0.23 earnings per share for the current fiscal year.

Insider Activity at BOX

In other news, Director Jack R. Lazar sold 2,500 shares of the business’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $34.75, for a total value of $86,875.00. Following the transaction, the director now directly owns 26,697 shares of the company’s stock, valued at $927,720.75. The trade was a 8.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Dylan C. Smith sold 13,000 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $32.89, for a total value of $427,570.00. Following the transaction, the chief financial officer now owns 1,500,661 shares in the company, valued at $49,356,740.29. The trade was a 0.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 58,500 shares of company stock valued at $1,939,895 in the last 90 days. 4.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Glenmede Trust Co. NA raised its holdings in shares of BOX by 1.6% in the 3rd quarter. Glenmede Trust Co. NA now owns 34,107 shares of the software maker’s stock worth $1,116,000 after acquiring an additional 535 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in BOX by 3.7% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 15,831 shares of the software maker’s stock valued at $419,000 after acquiring an additional 560 shares in the last quarter. Connable Office Inc. grew its stake in shares of BOX by 3.8% in the 2nd quarter. Connable Office Inc. now owns 15,707 shares of the software maker’s stock worth $415,000 after acquiring an additional 573 shares in the last quarter. Creative Planning lifted its position in shares of BOX by 4.2% during the third quarter. Creative Planning now owns 15,743 shares of the software maker’s stock valued at $515,000 after purchasing an additional 631 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its holdings in BOX by 31.7% during the second quarter. Nisa Investment Advisors LLC now owns 2,627 shares of the software maker’s stock worth $69,000 after purchasing an additional 632 shares during the last quarter. Institutional investors and hedge funds 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.