Analysts Set Box, Inc. (NYSE:BOX) PT at $35.89

Box, Inc. (NYSE:BOX) has earned a consensus rating of “Moderate Buy” from the twelve ratings firms that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $36.60.

Several equities research analysts recently commented on the stock. Bank of America assumed coverage on shares of BOX in a research report on Thursday, December 12th. They issued a “buy” rating and a $40.00 price objective on the stock. JPMorgan Chase & Co. decreased their price objective on shares of BOX from $38.00 to $37.00 and set an “overweight” rating on the stock in a research report on Wednesday. DA Davidson assumed coverage on shares of BOX in a research report on Wednesday, December 18th. They issued a “buy” rating and a $45.00 price objective on the stock. StockNews.com lowered shares of BOX from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, January 8th. Finally, Royal Bank of Canada reissued an “underperform” rating and issued a $21.00 target price on shares of BOX in a research note on Wednesday, December 4th.

BOX Stock Down 0.7 %

BOX stock opened at $32.17 on Tuesday. BOX has a 52 week low of $24.63 and a 52 week high of $35.74. The firm’s 50-day simple moving average is $32.82 and its 200 day simple moving average is $32.62. The firm has a market capitalization of $4.62 billion, a PE ratio of 40.21, a P/E/G ratio of 4.42 and a beta of 0.88.

BOX announced that its Board of Directors has initiated a share buyback program on Tuesday, March 4th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the software maker to buy up to 3.1% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Insider Transactions at BOX

In other news, Director Daniel J. Levin sold 5,886 shares of the business’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $32.50, for a total transaction of $191,295.00. Following the completion of the sale, the director now owns 51,530 shares in the company, valued at approximately $1,674,725. The trade was a 10.25 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Olivia Nottebohm sold 12,414 shares of the business’s stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $31.85, for a total value of $395,385.90. Following the sale, the chief operating officer now owns 453,146 shares of the company’s stock, valued at $14,432,700.10. The trade was a 2.67 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 89,041 shares of company stock worth $2,889,758. 4.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On BOX

A number of institutional investors and hedge funds have recently bought and sold shares of BOX. Arrowstreet Capital Limited Partnership boosted its holdings in BOX by 103.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,386,370 shares of the software maker’s stock worth $107,009,000 after acquiring an additional 1,725,197 shares during the period. Norges Bank purchased a new position in BOX in the 4th quarter worth approximately $29,973,000. Jupiter Asset Management Ltd. purchased a new position in BOX in the 4th quarter worth approximately $24,234,000. Fisher Asset Management LLC boosted its holdings in BOX by 420.6% in the 4th quarter. Fisher Asset Management LLC now owns 857,498 shares of the software maker’s stock worth $27,097,000 after acquiring an additional 692,784 shares during the period. Finally, Wells Fargo & Company MN boosted its holdings in BOX by 22.9% in the 4th quarter. Wells Fargo & Company MN now owns 1,633,647 shares of the software maker’s stock worth $51,623,000 after acquiring an additional 304,755 shares during the period. Hedge funds and other institutional investors own 86.74% of the company’s stock.

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.