Box, Inc. (NYSE:BOX) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Box, Inc. (NYSE:BOX) has earned a consensus rating of “Moderate Buy” from the ten ratings firms that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $38.25.

Several research firms have recently weighed in on BOX. Raymond James Financial reaffirmed an “outperform” rating and set a $42.00 target price on shares of BOX in a report on Wednesday, August 27th. Citigroup lifted their price objective on shares of BOX from $39.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, August 27th. Zacks Research lowered shares of BOX from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 26th. DA Davidson restated a “buy” rating and set a $45.00 target price on shares of BOX in a research report on Wednesday. Finally, Royal Bank Of Canada upped their price target on BOX from $24.00 to $26.00 and gave the stock an “underperform” rating in a report on Wednesday, August 27th.

BOX Trading Up 6.6%

Shares of BOX stock opened at $32.16 on Thursday. BOX has a twelve month low of $28.00 and a twelve month high of $38.80. The stock has a market cap of $4.66 billion, a P/E ratio of 25.94 and a beta of 0.79. The stock has a 50 day moving average of $31.78 and a 200 day moving average of $32.74.

Insider Buying and Selling at BOX

In other news, VP Eli Berkovitch sold 3,500 shares of the stock in a transaction that occurred on Tuesday, October 7th. The stock was sold at an average price of $32.77, for a total transaction of $114,695.00. Following the transaction, the vice president owned 128,847 shares in the company, valued at $4,222,316.19. This trade represents a 2.64% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Olivia Nottebohm sold 4,612 shares of BOX stock in a transaction on Monday, November 10th. The shares were sold at an average price of $31.35, for a total transaction of $144,586.20. Following the completion of the sale, the chief operating officer directly owned 497,639 shares in the company, valued at $15,600,982.65. This represents a 0.92% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 122,336 shares of company stock worth $3,986,999. 3.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Cetera Investment Advisers boosted its holdings in BOX by 57.2% in the 1st quarter. Cetera Investment Advisers now owns 15,516 shares of the software maker’s stock worth $479,000 after buying an additional 5,644 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of BOX by 24.7% in the first quarter. PNC Financial Services Group Inc. now owns 11,870 shares of the software maker’s stock worth $366,000 after acquiring an additional 2,352 shares during the last quarter. Townsquare Capital LLC increased its position in shares of BOX by 13.8% during the first quarter. Townsquare Capital LLC now owns 105,178 shares of the software maker’s stock worth $3,246,000 after purchasing an additional 12,766 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in BOX by 177.8% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 89,677 shares of the software maker’s stock valued at $2,767,000 after purchasing an additional 57,392 shares during the last quarter. Finally, Covestor Ltd lifted its holdings in BOX by 29.9% in the 1st quarter. Covestor Ltd now owns 2,142 shares of the software maker’s stock valued at $66,000 after purchasing an additional 493 shares in the last quarter. Institutional investors and hedge funds own 86.74% of the company’s stock.

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.