BOX (NYSE:BOX) Price Target Lowered to $30.00 at Morgan Stanley

BOX (NYSE:BOXFree Report) had its price target reduced by Morgan Stanley from $32.00 to $30.00 in a report published on Wednesday, Benzinga reports. They currently have an equal weight rating on the software maker’s stock.

BOX has been the topic of a number of other reports. StockNews.com upgraded shares of BOX from a buy rating to a strong-buy rating in a research note on Thursday, April 11th. JPMorgan Chase & Co. raised their price target on BOX from $31.00 to $32.00 and gave the company an overweight rating in a research report on Wednesday, March 6th. JMP Securities reissued a market outperform rating and issued a $32.00 price objective on shares of BOX in a research note on Wednesday, March 20th. Citigroup lifted their target price on shares of BOX from $29.00 to $32.00 and gave the stock a buy rating in a research report on Wednesday, March 6th. Finally, Royal Bank of Canada reaffirmed an underperform rating and issued a $21.00 price target on shares of BOX in a report on Wednesday, March 20th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $30.33.

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BOX Trading Up 8.6 %

Shares of BOX opened at $27.20 on Wednesday. The firm has a market cap of $3.93 billion, a PE ratio of 40.59, a price-to-earnings-growth ratio of 8.71 and a beta of 0.85. The company’s 50 day simple moving average is $26.97 and its 200-day simple moving average is $26.51. BOX has a 12-month low of $23.29 and a 12-month high of $31.94.

BOX (NYSE:BOXGet Free Report) last released its quarterly earnings results on Tuesday, March 5th. The software maker reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.07. The firm had revenue of $262.88 million for the quarter, compared to analyst estimates of $262.92 million. BOX had a negative return on equity of 9.46% and a net margin of 12.43%. As a group, equities research analysts forecast that BOX will post 0.15 EPS for the current fiscal year.

Insider Transactions at BOX

In related news, CFO Dylan C. Smith sold 13,000 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $29.26, for a total value of $380,380.00. Following the sale, the chief financial officer now directly owns 1,395,702 shares of the company’s stock, valued at $40,838,240.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Dylan C. Smith sold 13,000 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $29.26, for a total value of $380,380.00. Following the completion of the sale, the chief financial officer now owns 1,395,702 shares of the company’s stock, valued at approximately $40,838,240.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel J. Levin sold 73,660 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $28.40, for a total transaction of $2,091,944.00. Following the completion of the sale, the director now owns 43,940 shares in the company, valued at approximately $1,247,896. The disclosure for this sale can be found here. Over the last quarter, insiders sold 133,660 shares of company stock valued at $3,774,134. 4.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in BOX. DekaBank Deutsche Girozentrale acquired a new stake in shares of BOX during the 3rd quarter valued at approximately $38,000. TFO Wealth Partners LLC increased its stake in BOX by 62,000.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,863 shares of the software maker’s stock valued at $48,000 after purchasing an additional 1,860 shares during the last quarter. a16z Perennial Management L.P. acquired a new stake in shares of BOX during the fourth quarter worth $48,000. Covestor Ltd lifted its position in shares of BOX by 27.3% in the 1st quarter. Covestor Ltd now owns 4,312 shares of the software maker’s stock worth $122,000 after buying an additional 924 shares during the last quarter. Finally, Central Pacific Bank Trust Division bought a new stake in shares of BOX during the 1st quarter valued at about $174,000. Institutional investors and hedge funds own 86.74% of the company’s stock.

About BOX

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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.

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