BOX’s (BOX) “Buy” Rating Reaffirmed at DA Davidson

DA Davidson reiterated their buy rating on shares of BOX (NYSE:BOX) in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have a $45.00 target price on the software maker’s stock.

Several other brokerages also 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 research note on Wednesday, August 27th. UBS Group lowered shares of BOX from a “buy” rating to a “neutral” rating and decreased their price target for the company from $42.00 to $36.00 in a research note on Thursday, September 18th. Citigroup boosted their price target on BOX from $39.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, August 27th. Weiss Ratings lowered shares of BOX from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, November 28th. Finally, Zacks Research downgraded shares of BOX from a “strong-buy” rating to a “hold” rating in a report on Friday, September 26th. Six analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, BOX presently has an average rating of “Moderate Buy” and an average price target of $38.25.

BOX Stock Performance

BOX stock opened at $32.16 on Wednesday. The firm’s fifty day moving average is $31.78 and its 200 day moving average is $32.74. BOX has a one year low of $28.00 and a one year high of $38.80. The firm has a market cap of $4.66 billion, a PE ratio of 25.94 and a beta of 0.79.

Insiders Place Their Bets

In other BOX news, CFO Dylan C. Smith sold 51,000 shares of BOX stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $32.83, for a total transaction of $1,674,330.00. Following the completion of the sale, the chief financial officer directly owned 1,480,732 shares in the company, valued at $48,612,431.56. This trade represents a 3.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Olivia Nottebohm sold 4,612 shares of the business’s stock in a transaction that occurred 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 trade represents a 0.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 122,336 shares of company stock worth $3,986,999. Corporate insiders own 3.90% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. CWM LLC boosted its holdings in BOX by 25.6% in the 3rd quarter. CWM LLC now owns 1,503 shares of the software maker’s stock worth $49,000 after acquiring an additional 306 shares during the period. Portside Wealth Group LLC increased its stake in BOX by 3.6% during the 2nd quarter. Portside Wealth Group LLC now owns 10,380 shares of the software maker’s stock worth $355,000 after buying an additional 361 shares during the period. Aviva PLC grew its stake in shares of BOX by 3.4% during the second quarter. Aviva PLC now owns 13,488 shares of the software maker’s stock valued at $461,000 after acquiring an additional 442 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its stake in shares of BOX by 1.1% in the second quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 40,711 shares of the software maker’s stock worth $1,391,000 after acquiring an additional 461 shares in the last quarter. Finally, Franklin Resources Inc. grew its stake in BOX by 2.1% during the 2nd quarter. Franklin Resources Inc. now owns 24,219 shares of the software maker’s stock valued at $828,000 after purchasing an additional 489 shares in the last quarter. 86.74% of the stock is currently owned by institutional investors and hedge funds.

About BOX

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.