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

StockNews.com lowered shares of BOX (NYSE:BOX – Get Rating) from a strong-buy rating to a buy rating in a research note published on Wednesday morning.

Other equities analysts have also issued research reports about the stock. Royal Bank of Canada lowered shares of BOX from a sector perform rating to an underperform rating and reduced their target price for the company from $28.00 to $24.00 in a report on Tuesday, January 10th. JPMorgan Chase & Co. upgraded BOX from a neutral rating to an overweight rating and lifted their price objective for the stock from $31.00 to $34.00 in a report on Monday, December 12th. Morgan Stanley lifted their price objective on BOX from $34.00 to $39.00 and gave the stock an overweight rating in a report on Monday, December 19th. Oppenheimer reiterated an outperform rating and issued a $35.00 price objective on shares of BOX in a report on Monday, December 5th. Finally, Credit Suisse Group assumed coverage on BOX in a report on Monday, November 21st. They issued an outperform rating and a $36.00 price objective on the stock. One research analyst has rated the stock with a sell rating and seven have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $34.67.

BOX Price Performance

NYSE:BOX opened at $30.62 on Wednesday. The company has a market capitalization of $4.38 billion, a price-to-earnings ratio of -278.36 and a beta of 1.06. The business has a 50 day moving average of $29.61 and a 200 day moving average of $28.22. BOX has a 1-year low of $22.31 and a 1-year high of $33.04.

Insider Buying and Selling

In related news, CFO Dylan C. Smith sold 13,000 shares of the firm’s stock in a transaction dated Tuesday, January 10th. The stock was sold at an average price of $28.11, for a total value of $365,430.00. Following the sale, the chief financial officer now directly owns 1,288,904 shares of the company’s stock, valued at $36,231,091.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Dylan C. Smith sold 13,000 shares of the stock in a transaction that occurred on Tuesday, January 10th. The stock was sold at an average price of $28.11, for a total value of $365,430.00. Following the completion of the transaction, the chief financial officer now owns 1,288,904 shares of the company’s stock, valued at approximately $36,231,091.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Dana L. Evan sold 5,000 shares of BOX stock in a transaction that occurred on Wednesday, December 21st. The shares were sold at an average price of $31.32, for a total value of $156,600.00. Following the sale, the director now owns 130,179 shares in the company, valued at $4,077,206.28. The disclosure for this sale can be found here. Insiders have sold 296,919 shares of company stock valued at $8,753,424 over the last ninety days. 5.20% of the stock is owned by insiders.

Institutional Investors Weigh In On BOX

Several hedge funds have recently bought and sold shares of the business. Fairfield Bush & CO. purchased a new stake in BOX in the first quarter worth about $29,000. Harbor Investment Advisory LLC grew its holdings in BOX by 61.0% in the second quarter. Harbor Investment Advisory LLC now owns 1,275 shares of the software maker’s stock worth $32,000 after purchasing an additional 483 shares during the period. Trust Co. of Vermont purchased a new stake in BOX in the second quarter worth about $40,000. FNY Investment Advisers LLC purchased a new stake in BOX in the fourth quarter worth about $58,000. Finally, SeaCrest Wealth Management LLC purchased a new stake in BOX in the second quarter worth about $67,000. Institutional investors own 85.67% of the company’s stock.

About BOX

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Box, Inc engages in the provision of 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, box keysafe and automations.