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

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

A number of other equities research analysts have also weighed in on the company. William Blair reaffirmed an “outperform” rating on shares of BOX in a report on Thursday, November 14th. Citigroup increased their price objective on BOX from $34.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. 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. Royal Bank of Canada reiterated an “underperform” rating and issued a $21.00 price target on shares of BOX in a report on Wednesday, December 4th. Finally, DA Davidson started coverage on shares of BOX in a report on Wednesday, December 18th. They set a “buy” rating and a $45.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.89.

BOX Price Performance

Shares of NYSE BOX opened at $31.29 on Wednesday. The stock has a fifty day moving average price of $32.92 and a 200 day moving average price of $30.84. BOX has a 1-year low of $24.56 and a 1-year high of $35.74. The company has a market cap of $4.50 billion, a PE ratio of 39.11 and a beta of 0.89.

Insider Activity at BOX

In other BOX news, COO Olivia Nottebohm sold 12,414 shares of the company’s stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $31.85, for a total value of $395,385.90. Following the transaction, the chief operating officer now directly owns 453,146 shares in the company, valued at approximately $14,432,700.10. This represents a 2.67 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Eli Berkovitch sold 4,792 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $32.46, for a total transaction of $155,548.32. Following the sale, the vice president now directly owns 140,172 shares in the company, valued at $4,549,983.12. This represents a 3.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 61,592 shares of company stock valued at $2,019,524. 4.10% of the stock is owned by corporate insiders.

Institutional Trading of BOX

Hedge funds and other institutional investors have recently bought and sold shares of the company. Itau Unibanco Holding S.A. acquired a new stake in shares of BOX during the third quarter worth $36,000. Quarry LP lifted its position in 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 buying an additional 1,084 shares during the period. GAMMA Investing LLC grew its holdings in BOX by 143.1% in the 3rd quarter. GAMMA Investing LLC now owns 1,337 shares of the software maker’s stock valued at $44,000 after buying an additional 787 shares during the period. Toronto Dominion Bank purchased a new stake in BOX in the 2nd quarter valued at about $53,000. Finally, Farther Finance Advisors LLC increased its stake in shares of BOX by 245.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,162 shares of the software maker’s stock valued at $71,000 after acquiring an additional 1,536 shares during the last quarter. 86.74% of the stock is owned by hedge funds and other 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.