Box, Inc. (NYSE:BOX) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Box, Inc. (NYSE:BOX) have been assigned a consensus recommendation of “Moderate Buy” from the eleven analysts that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $37.11.

A number of analysts have recently weighed in on the company. Morgan Stanley raised their price objective on BOX from $33.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 4th. DA Davidson restated a “buy” rating and set a $45.00 price target on shares of BOX in a research note on Wednesday, March 19th. Bank of America initiated coverage on shares of BOX in a research report on Thursday, December 12th. They issued a “buy” rating and a $40.00 price objective for the company. UBS Group boosted their target price on shares of BOX from $34.00 to $42.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Finally, Citigroup raised their price target on shares of BOX from $34.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th.

Insider Activity

In other news, CEO Aaron Levie sold 10,000 shares of the company’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $32.08, for a total transaction of $320,800.00. Following the completion of the transaction, the chief executive officer now directly owns 2,979,780 shares of the company’s stock, valued at approximately $95,591,342.40. This represents a 0.33 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Olivia Nottebohm sold 2,105 shares of the stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $30.76, for a total transaction of $64,749.80. Following the completion of the transaction, the chief operating officer now owns 427,113 shares in the company, valued at $13,137,995.88. This represents a 0.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 73,705 shares of company stock worth $2,375,998. Corporate insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in BOX. Earnest Partners LLC grew its holdings in shares of BOX by 2.1% during the fourth quarter. Earnest Partners LLC now owns 7,896,931 shares of the software maker’s stock worth $249,543,000 after buying an additional 162,437 shares during the last quarter. State Street Corp lifted its position in BOX by 1.2% during the 3rd 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. Arrowstreet Capital Limited Partnership grew its stake in shares of BOX by 103.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,386,370 shares of the software maker’s stock valued at $107,009,000 after purchasing an additional 1,725,197 shares during the last quarter. Sei Investments Co. increased its holdings in shares of BOX by 8.4% in the fourth quarter. Sei Investments Co. now owns 3,286,619 shares of the software maker’s stock valued at $103,857,000 after purchasing an additional 255,623 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of BOX by 0.4% during the third quarter. Geode Capital Management LLC now owns 3,249,823 shares of the software maker’s stock worth $106,387,000 after purchasing an additional 13,028 shares during the last quarter. Institutional investors and hedge funds own 86.74% of the company’s stock.

BOX Trading Down 1.7 %

BOX opened at $31.12 on Friday. The firm has a market cap of $4.47 billion, a price-to-earnings ratio of 38.90, a PEG ratio of 4.42 and a beta of 1.00. BOX has a 12 month low of $24.63 and a 12 month high of $35.74. The stock has a fifty day moving average price of $32.69 and a 200-day moving average price of $32.65.

BOX announced that its board has initiated a share buyback program on Tuesday, March 4th that allows the company to buyback $150.00 million in outstanding shares. This buyback authorization allows the software maker to purchase up to 3.1% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

About BOX

Box, Inc engages in the provision of an enterprise content platform that enables organizations to securely manage enterprise content while allowing easy, secure access and sharing of this content from anywhere, on any device. Its products include cloud content management, IT and admin controls, Box Governance, Box Zones, Box Relay, Box Shuttle, and Box KeySafe.