Box, Inc. (NYSE:BOX) Receives $36.44 Consensus Target Price from Analysts

Shares of Box, Inc. (NYSE:BOX) have earned an average rating of “Moderate Buy” from the eleven research firms that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and eight have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $36.44.

A number of research analysts recently commented on the company. JPMorgan Chase & Co. reduced their target price on BOX from $38.00 to $37.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 5th. Morgan Stanley cut their price objective on BOX from $36.00 to $35.00 and set an “equal weight” rating for the company in a report on Wednesday, April 16th. StockNews.com upgraded BOX from a “buy” rating to a “strong-buy” rating in a report on Wednesday, May 14th. DA Davidson dropped their target price on BOX from $45.00 to $40.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Finally, Raymond James restated an “outperform” rating and issued a $38.00 target price (down previously from $40.00) on shares of BOX in a research report on Wednesday, March 5th.

Insider Transactions at BOX

In related news, COO Olivia Nottebohm sold 1,332 shares of the business’s stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $29.01, for a total transaction of $38,641.32. Following the transaction, the chief operating officer now owns 492,545 shares in the company, valued at $14,288,730.45. The trade was a 0.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Aaron Levie sold 10,000 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $32.08, for a total value of $320,800.00. Following the transaction, the chief executive officer now owns 2,979,780 shares in the company, valued at approximately $95,591,342.40. This represents a 0.33% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 66,377 shares of company stock worth $2,060,714. Insiders own 3.90% of the company’s stock.

Institutional Trading of BOX

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Intech Investment Management LLC raised its holdings in BOX by 29.2% in the 1st quarter. Intech Investment Management LLC now owns 71,596 shares of the software maker’s stock worth $2,209,000 after purchasing an additional 16,179 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of BOX by 7.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 477,822 shares of the software maker’s stock valued at $14,746,000 after buying an additional 32,726 shares during the period. Woodline Partners LP increased its position in shares of BOX by 16.4% during the first quarter. Woodline Partners LP now owns 17,800 shares of the software maker’s stock valued at $549,000 after buying an additional 2,506 shares during the period. United Services Automobile Association purchased a new position in shares of BOX during the first quarter valued at about $283,000. Finally, UniSuper Management Pty Ltd purchased a new position in shares of BOX during the first quarter valued at about $1,155,000. Hedge funds and other institutional investors own 86.74% of the company’s stock.

BOX Price Performance

Shares of NYSE BOX opened at $31.98 on Friday. The firm has a market capitalization of $4.60 billion, a P/E ratio of 39.98, a P/E/G ratio of 4.42 and a beta of 0.94. The stock’s 50-day simple moving average is $30.74 and its two-hundred day simple moving average is $32.18. BOX has a twelve month low of $24.63 and a twelve month high of $35.74.

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

BOX Company Profile

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.