BOX’s (BOX) “Underperform” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reiterated their underperform rating on shares of BOX (NYSE:BOX) in a research report report published on Wednesday morning,Benzinga reports. The brokerage currently has a $21.00 price objective on the software maker’s stock.

Several other brokerages also recently weighed in on BOX. Citigroup increased their price target on BOX from $34.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Morgan Stanley increased their target price on BOX from $33.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 4th. Raymond James reissued an “outperform” rating and set a $38.00 target price (down from $40.00) on shares of BOX in a research note on Wednesday, March 5th. JPMorgan Chase & Co. reduced their price target on shares of BOX from $38.00 to $37.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 5th. Finally, UBS Group boosted their price objective on shares of BOX from $34.00 to $42.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.60.

BOX Trading Down 0.1 %

Shares of NYSE:BOX opened at $30.83 on Wednesday. BOX has a 12 month low of $24.63 and a 12 month high of $35.74. The company has a market capitalization of $4.43 billion, a price-to-earnings ratio of 38.53, a PEG ratio of 4.42 and a beta of 1.00. The firm’s 50-day moving average is $32.76 and its 200 day moving average is $32.74.

BOX declared that its Board of Directors has approved a share repurchase program on Tuesday, March 4th that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the software maker to reacquire up to 3.1% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In related news, CFO Dylan C. Smith sold 13,000 shares of the company’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $31.95, for a total transaction of $415,350.00. Following the completion of the sale, the chief financial officer now directly owns 1,440,684 shares in the company, valued at $46,029,853.80. This represents a 0.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Eli Berkovitch sold 4,791 shares of BOX stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $31.06, for a total value of $148,808.46. Following the completion of the transaction, the vice president now owns 132,741 shares in the company, valued at $4,122,935.46. This trade represents a 3.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 78,363 shares of company stock worth $2,533,374 over the last 90 days. Company insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On BOX

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Itau Unibanco Holding S.A. acquired a new position in shares of BOX during the third quarter worth $36,000. Smartleaf Asset Management LLC grew its stake in BOX by 715.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,162 shares of the software maker’s stock worth $69,000 after buying an additional 1,897 shares during the last quarter. TD Waterhouse Canada Inc. increased its position in BOX by 42.4% during the 4th quarter. TD Waterhouse Canada Inc. now owns 2,194 shares of the software maker’s stock valued at $69,000 after buying an additional 653 shares in the last quarter. Farther Finance Advisors LLC raised its stake in BOX by 19.3% in the fourth quarter. Farther Finance Advisors LLC now owns 2,579 shares of the software maker’s stock valued at $81,000 after buying an additional 417 shares during the last quarter. Finally, SBI Securities Co. Ltd. acquired a new stake in BOX in the fourth quarter worth about $132,000. 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.