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

StockNews.com lowered shares of BOX (NYSE:BOX) from a strong-buy rating to a buy rating in a research report sent to investors on Wednesday.

Several other brokerages have also recently weighed in on BOX. UBS Group raised their target price on shares of BOX from $34.00 to $42.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Morgan Stanley raised their price objective on shares of BOX from $33.00 to $36.00 and gave the company an “equal weight” rating in a report on Wednesday, December 4th. DA Davidson started coverage on shares of BOX in a research note on Wednesday, December 18th. They set a “buy” rating and a $45.00 target price for the company. Royal Bank of Canada restated an “underperform” rating and issued a $21.00 price target on shares of BOX in a research note on Wednesday, December 4th. Finally, Citigroup lifted their price target on BOX from $34.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. One investment 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 currently has an average rating of “Moderate Buy” and a consensus target price of $35.89.

BOX Price Performance

BOX stock opened at $31.29 on Wednesday. The business’s 50-day moving average is $32.93 and its two-hundred day moving average is $30.84. The firm has a market capitalization of $4.50 billion, a P/E ratio of 39.11 and a beta of 0.89. BOX has a 1 year low of $24.56 and a 1 year high of $35.74.

Insiders Place Their Bets

In related news, CFO Dylan C. Smith sold 13,000 shares of the business’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $32.33, for a total value of $420,290.00. Following the transaction, the chief financial officer now owns 1,448,509 shares in the company, valued at $46,830,295.97. The trade was a 0.89 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Olivia Nottebohm sold 12,414 shares of the business’s stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $31.85, for a total value of $395,385.90. Following the completion of the transaction, the chief operating officer now directly owns 453,146 shares in the company, valued at approximately $14,432,700.10. The trade was a 2.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 61,592 shares of company stock valued at $2,019,524 over the last quarter. Company insiders own 4.10% of the company’s stock.

Institutional Trading of BOX

Several hedge funds have recently made changes to their positions in BOX. Itau Unibanco Holding S.A. purchased a new position in BOX during the third quarter worth about $36,000. Quarry LP increased its position in BOX by 324.6% during the 2nd quarter. Quarry LP now owns 1,418 shares of the software maker’s stock worth $37,000 after purchasing an additional 1,084 shares during the period. GAMMA Investing LLC raised its stake in shares of BOX by 143.1% during the 3rd quarter. GAMMA Investing LLC now owns 1,337 shares of the software maker’s stock worth $44,000 after buying an additional 787 shares in the last quarter. Toronto Dominion Bank purchased a new position in shares of BOX during the 2nd quarter worth approximately $53,000. Finally, Farther Finance Advisors LLC lifted its holdings in shares of BOX by 245.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,162 shares of the software maker’s stock valued at $71,000 after buying an additional 1,536 shares during the period. Institutional investors and hedge funds own 86.74% of the company’s stock.

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.