StockNews.com Upgrades BOX (NYSE:BOX) to Strong-Buy

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

Other research analysts also recently issued reports about the stock. Royal Bank of Canada reaffirmed an “underperform” rating and issued a $21.00 target price on shares of BOX in a research report on Wednesday, December 4th. Citigroup lifted their target price on BOX from $34.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. William Blair reissued an “outperform” rating on shares of BOX in a research report on Thursday, November 14th. Monness Crespi & Hardt upgraded BOX to a “hold” rating in a research note on Friday, August 16th. Finally, Bank of America assumed coverage on shares of BOX in a research report on Thursday. They set a “buy” rating and a $40.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, BOX presently has an average rating of “Moderate Buy” and an average price target of $34.75.

BOX Stock Down 1.6 %

Shares of BOX opened at $32.49 on Friday. The company has a market capitalization of $4.67 billion, a price-to-earnings ratio of 40.61 and a beta of 0.86. BOX has a 52-week low of $24.28 and a 52-week high of $35.74. The stock has a 50 day moving average price of $33.10 and a 200 day moving average price of $30.18.

Insider Transactions at BOX

In related news, CFO Dylan C. Smith sold 13,000 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $32.33, for a total value of $420,290.00. Following the completion of the sale, the chief financial officer now owns 1,448,509 shares in the company, valued at $46,830,295.97. This trade represents a 0.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jack R. Lazar sold 2,500 shares of the company’s 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 transaction, the director now owns 26,697 shares in the company, valued at $927,720.75. The trade was a 8.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 57,386 shares of company stock valued at $1,891,350. Corporate insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On BOX

Several hedge funds have recently bought and sold shares of BOX. Itau Unibanco Holding S.A. acquired a new stake in BOX in the third quarter valued at $36,000. GAMMA Investing LLC increased its holdings in BOX by 143.1% during the 3rd quarter. GAMMA Investing LLC now owns 1,337 shares of the software maker’s stock valued at $44,000 after acquiring an additional 787 shares in the last quarter. Quarry LP lifted its holdings in shares of BOX by 324.6% in the second quarter. Quarry LP now owns 1,418 shares of the software maker’s stock valued at $37,000 after purchasing an additional 1,084 shares in the last quarter. Toronto Dominion Bank acquired a new stake in shares of BOX in the second quarter valued at approximately $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 worth $71,000 after purchasing an additional 1,536 shares in 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.