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

BOX (NYSE:BOX) was downgraded by investment analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a note issued to investors on Thursday.

BOX has been the topic of a number of other research reports. Morgan Stanley raised their target price on BOX from $33.00 to $36.00 and gave the stock an “equal weight” rating in a report on Wednesday. UBS Group raised their price objective on BOX from $34.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday. William Blair reissued an “outperform” rating on shares of BOX in a research note on Thursday, November 14th. Royal Bank of Canada reiterated an “underperform” rating and set a $21.00 price objective on shares of BOX in a report on Wednesday. Finally, Citigroup upped their price target on shares of BOX from $34.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $33.11.

BOX Stock Up 0.8 %

BOX stock traded up $0.27 during trading on Thursday, hitting $32.04. The company had a trading volume of 3,469,488 shares, compared to its average volume of 2,012,906. The firm has a 50-day moving average price of $33.06 and a 200-day moving average price of $29.85. The stock has a market cap of $4.59 billion, a price-to-earnings ratio of 40.05 and a beta of 0.86. BOX has a 12 month low of $23.29 and a 12 month high of $35.74.

Insiders Place Their Bets

In related news, Director Jack R. Lazar sold 2,500 shares of the firm’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 owns 26,697 shares in the company, valued at $927,720.75. This trade represents a 8.56 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Aaron Levie sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were 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 owns 3,009,155 shares in the company, valued at $99,061,382.60. The trade was a 0.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 51,500 shares of company stock worth $1,711,135 in the last quarter. 4.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On BOX

Several institutional investors have recently modified their holdings of the business. Itau Unibanco Holding S.A. purchased a new stake in shares of BOX during the third quarter worth $36,000. Quarry LP raised its stake in shares of BOX by 324.6% during the second quarter. Quarry LP now owns 1,418 shares of the software maker’s stock worth $37,000 after acquiring an additional 1,084 shares in the last quarter. GAMMA Investing LLC lifted its stake in BOX by 143.1% in the third quarter. GAMMA Investing LLC now owns 1,337 shares of the software maker’s stock worth $44,000 after purchasing an additional 787 shares during the last quarter. Toronto Dominion Bank purchased a new stake in BOX during the 2nd quarter valued at about $53,000. Finally, Nisa Investment Advisors LLC boosted its stake in shares of BOX by 31.7% during the second quarter. Nisa Investment Advisors LLC now owns 2,627 shares of the software maker’s stock valued at $69,000 after purchasing an additional 632 shares during the period. 86.74% of the stock is 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.