BOX (NYSE:BOX) Stock Rating Lowered by StockNews.com

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

BOX has been the subject of a number of other research reports. William Blair restated an “outperform” rating on shares of BOX in a research report on Thursday, November 14th. UBS Group lifted their price target on shares of BOX from $34.00 to $42.00 and gave the stock a “buy” rating in a research report on Wednesday. Royal Bank of Canada reaffirmed an “underperform” rating and issued a $21.00 price objective on shares of BOX in a research note on Wednesday. Monness Crespi & Hardt upgraded shares of BOX to a “hold” rating in a research report on Friday, August 16th. Finally, Citigroup raised their price target on BOX from $34.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $34.00.

BOX Trading Up 1.4 %

Shares of BOX stock opened at $32.49 on Thursday. BOX has a 1 year low of $23.78 and a 1 year high of $35.74. The firm’s 50 day moving average is $33.05 and its 200-day moving average is $29.87. The firm has a market capitalization of $4.65 billion, a price-to-earnings ratio of 39.91 and a beta of 0.86.

Insiders Place Their Bets

In other news, CEO Aaron Levie sold 10,000 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $32.92, for a total value of $329,200.00. Following the sale, the chief executive officer now directly 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jack R. Lazar sold 2,500 shares of the 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 owns 26,697 shares of the company’s stock, valued at approximately $927,720.75. The trade was a 8.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 51,500 shares of company stock worth $1,711,135. Corporate insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On BOX

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Earnest Partners LLC boosted its holdings in shares of BOX by 8.5% in the 2nd quarter. Earnest Partners LLC now owns 7,960,924 shares of the software maker’s stock valued at $210,487,000 after buying an additional 620,450 shares during the last quarter. State Street Corp raised its position in BOX by 1.2% during the third 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 in the last quarter. Geode Capital Management LLC lifted its stake in BOX by 0.4% in the third quarter. Geode Capital Management LLC now owns 3,249,823 shares of the software maker’s stock valued at $106,387,000 after acquiring an additional 13,028 shares during the last quarter. Sei Investments Co. grew its position in shares of BOX by 4.2% in the 2nd quarter. Sei Investments Co. now owns 3,078,857 shares of the software maker’s stock valued at $81,405,000 after acquiring an additional 125,435 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of BOX by 9.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,564,668 shares of the software maker’s stock worth $67,809,000 after purchasing an additional 229,314 shares during the last quarter. 86.74% of the stock is owned by institutional investors.

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.