Box, Inc. (NYSE:BOX) Given Average Recommendation of “Hold” by Brokerages

Box, Inc. (NYSE:BOX) has been given an average recommendation of “Hold” by the ten research firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price target among analysts that have covered the stock in the last year is $35.5714.

A number of analysts have recently weighed in on BOX shares. William Blair reiterated a “market perform” rating on shares of BOX in a research note on Monday, March 23rd. Morgan Stanley cut their price objective on shares of BOX from $38.00 to $33.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 12th. Wall Street Zen lowered shares of BOX from a “strong-buy” rating to a “buy” rating in a research note on Saturday, March 28th. Weiss Ratings reiterated a “hold (c+)” rating on shares of BOX in a research note on Monday, December 29th. Finally, DA Davidson reiterated a “buy” rating and issued a $45.00 price objective on shares of BOX in a research note on Friday, March 20th.

Insider Transactions at BOX

In other news, CEO Aaron Levie sold 15,000 shares of the stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $24.72, for a total value of $370,800.00. Following the sale, the chief executive officer owned 2,907,030 shares in the company, valued at $71,861,781.60. This represents a 0.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Olivia Nottebohm sold 4,612 shares of the stock in a transaction on Friday, March 6th. The stock was sold at an average price of $25.78, for a total transaction of $118,897.36. Following the completion of the sale, the chief operating officer owned 465,219 shares in the company, valued at $11,993,345.82. The trade was a 0.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 75,224 shares of company stock worth $1,953,474 over the last 90 days. 3.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BOX. XTX Topco Ltd boosted its stake in shares of BOX by 283.2% during the 4th quarter. XTX Topco Ltd now owns 99,652 shares of the software maker’s stock worth $2,981,000 after acquiring an additional 73,645 shares in the last quarter. Voloridge Investment Management LLC boosted its stake in shares of BOX by 76.2% during the 4th quarter. Voloridge Investment Management LLC now owns 681,785 shares of the software maker’s stock worth $20,392,000 after acquiring an additional 294,954 shares in the last quarter. Toronto Dominion Bank purchased a new stake in shares of BOX during the 4th quarter worth about $60,000. Tudor Investment Corp ET AL boosted its stake in shares of BOX by 294.9% during the 4th quarter. Tudor Investment Corp ET AL now owns 449,973 shares of the software maker’s stock worth $13,459,000 after acquiring an additional 336,023 shares in the last quarter. Finally, Numerai GP LLC boosted its stake in shares of BOX by 152.4% during the 4th quarter. Numerai GP LLC now owns 46,524 shares of the software maker’s stock worth $1,392,000 after acquiring an additional 28,091 shares in the last quarter. Hedge funds and other institutional investors own 86.74% of the company’s stock.

BOX Stock Down 0.8%

BOX stock opened at $23.99 on Wednesday. BOX has a 52 week low of $21.61 and a 52 week high of $38.80. The company has a market capitalization of $3.32 billion, a price-to-earnings ratio of 40.65, a price-to-earnings-growth ratio of 1.23 and a beta of 0.71. The stock has a 50-day moving average price of $24.12 and a 200 day moving average price of $28.36.

BOX (NYSE:BOX) last released its earnings results on Tuesday, March 3rd. The software maker reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.16. BOX had a negative return on equity of 23.61% and a net margin of 9.80%.The firm had revenue of $305.88 million during the quarter, compared to the consensus estimate of $305.64 million. During the same quarter in the previous year, the company posted $0.42 earnings per share. The company’s revenue was up 9.4% compared to the same quarter last year. Research analysts anticipate that BOX will post 0.27 EPS for the current fiscal year.

BOX announced that its board has authorized a share buyback program on Thursday, March 19th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the software maker to reacquire up to 14.2% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

BOX Company Profile

Box, Inc is a leading provider of cloud content management and file sharing solutions designed to support enterprises in securely managing, accessing and collaborating on digital content from anywhere. The company offers a unified platform that enables organizations to store, share and automate workflows across various departments, enhancing productivity and ensuring governance over sensitive information. Box’s services are tailored to meet the needs of industries such as healthcare, financial services, government and media, where compliance and data security are paramount.

The core offerings of Box include its Content Cloud platform, which provides content collaboration, workflow automation, data classification and secure file sharing.