Bank of America Begins Coverage on BOX (NYSE:BOX)

Research analysts at Bank of America assumed coverage on shares of BOX (NYSE:BOX) in a research report issued on Thursday, Marketbeat reports. The brokerage set a “buy” rating and a $40.00 price target on the software maker’s stock. Bank of America‘s price target would indicate a potential upside of 23.15% from the company’s current price.

Several other equities research analysts also recently commented on the company. StockNews.com downgraded BOX from a “strong-buy” rating to a “buy” rating in a report on Thursday, December 5th. William Blair reiterated an “outperform” rating on shares of BOX in a research note on Thursday, November 14th. Monness Crespi & Hardt upgraded shares of BOX to a “hold” rating in a research report on Friday, August 16th. UBS Group lifted 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 boosted their target price on shares of BOX from $34.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $34.75.

BOX Trading Down 1.6 %

Shares of BOX opened at $32.48 on Thursday. BOX has a 12 month low of $24.28 and a 12 month high of $35.74. The business’s fifty day simple moving average is $33.10 and its two-hundred day simple moving average is $30.14. The company has a market cap of $4.65 billion, a price-to-earnings ratio of 40.60 and a beta of 0.86.

Insider Transactions at BOX

In related news, CFO Dylan C. Smith sold 13,000 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $34.21, for a total transaction of $444,730.00. Following the completion of the transaction, the chief financial officer now directly owns 1,461,509 shares in the company, valued at approximately $49,998,222.89. The trade was a 0.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jack R. Lazar sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $34.75, for a total transaction of $86,875.00. Following the sale, the director now owns 26,697 shares in the company, valued at approximately $927,720.75. The trade was a 8.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 57,386 shares of company stock worth $1,891,350 in the last three months. Corporate insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Itau Unibanco Holding S.A. purchased a new stake in BOX in the 3rd quarter worth $36,000. GAMMA Investing LLC boosted its stake in shares of 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 acquiring an additional 787 shares during the period. Quarry LP grew its position 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 purchasing an additional 1,084 shares in the last quarter. Toronto Dominion Bank bought a new stake in BOX during the 2nd quarter valued at approximately $53,000. Finally, Farther Finance Advisors LLC lifted its holdings in BOX by 245.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,162 shares of the software maker’s stock worth $71,000 after purchasing an additional 1,536 shares in the last quarter. Hedge funds and other institutional investors 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.