BOX (NYSE:BOX) Cut to Buy at StockNews.com

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

Several other equities analysts have also recently commented on the stock. Morgan Stanley boosted their price objective on shares of BOX from $33.00 to $36.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 4th. William Blair restated an “outperform” rating on shares of BOX in a research 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. DA Davidson assumed coverage on BOX in a research report on Wednesday, December 18th. They set a “buy” rating and a $45.00 target price for the company. Finally, UBS Group upped their target price on BOX from $34.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.89.

BOX Stock Up 0.4 %

BOX traded up $0.14 during trading on Wednesday, reaching $31.29. 2,257,338 shares of the company were exchanged, compared to its average volume of 1,427,108. BOX has a 12-month low of $24.56 and a 12-month high of $35.74. The company’s 50-day moving average is $32.93 and its two-hundred day moving average is $30.84. The company has a market cap of $4.50 billion, a price-to-earnings ratio of 39.11 and a beta of 0.89.

Insider Buying and Selling at BOX

In related news, 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 transaction of $86,875.00. Following the completion of the sale, the director now directly owns 26,697 shares in the company, valued at $927,720.75. This represents a 8.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Dylan C. Smith sold 13,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $32.52, for a total value of $422,760.00. Following the transaction, the chief financial officer now owns 1,474,509 shares in the company, valued at approximately $47,951,032.68. The trade was a 0.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 74,592 shares of company stock worth $2,442,284 over the last ninety days. Insiders own 4.10% of the company’s stock.

Institutional Trading of BOX

A number of institutional investors have recently made changes to their positions in BOX. Congress Asset Management Co. purchased a new position in shares of BOX in the third quarter worth $46,236,000. Earnest Partners LLC increased its position in shares of BOX by 8.5% in the second quarter. Earnest Partners LLC now owns 7,960,924 shares of the software maker’s stock valued at $210,487,000 after acquiring an additional 620,450 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of BOX by 9.8% during the second quarter. Dimensional Fund Advisors LP now owns 2,564,668 shares of the software maker’s stock valued at $67,809,000 after acquiring an additional 229,314 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of BOX by 10.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,371,815 shares of the software maker’s stock worth $44,900,000 after purchasing an additional 134,175 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec purchased a new stake in shares of BOX during the third quarter worth about $4,314,000. 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.