Box Inc (NYSE:BOX)’s share price dropped 6.8% during trading on Monday . The stock traded as low as $18.87 and last traded at $18.87. Approximately 1,896,545 shares were traded during mid-day trading, a decline of 11% from the average daily volume of 2,129,538 shares. The stock had previously closed at $20.24.
BOX has been the topic of several research analyst reports. Zacks Investment Research upgraded BOX from a “hold” rating to a “buy” rating and set a $21.00 price objective on the stock in a research note on Friday, March 8th. DA Davidson reiterated a “buy” rating and issued a $25.00 price objective on shares of BOX in a research note on Friday, February 22nd. Goldman Sachs Group initiated coverage on BOX in a research note on Tuesday, February 5th. They issued a “buy” rating and a $31.00 price objective on the stock. Craig Hallum initiated coverage on BOX in a research note on Thursday, January 24th. They issued a “buy” rating and a $30.00 price objective on the stock. Finally, Prescient Securities upgraded BOX from a “neutral” rating to a “buy” rating and set a $27.00 price objective on the stock in a research note on Tuesday, January 15th. Seven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $24.80.
The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 2.69. The firm has a market cap of $2.76 billion, a PE ratio of -19.66 and a beta of 1.50.
In other BOX news, Director Daniel J. Levin sold 30,000 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $19.88, for a total transaction of $596,400.00. Following the sale, the director now owns 5,790 shares of the company’s stock, valued at approximately $115,105.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Dylan C. Smith sold 15,000 shares of the business’s stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $19.53, for a total transaction of $292,950.00. Following the sale, the chief financial officer now directly owns 1,114,280 shares in the company, valued at approximately $21,761,888.40. The disclosure for this sale can be found here. Insiders have sold a total of 85,000 shares of company stock worth $1,679,850 in the last three months. Insiders own 8.51% of the company’s stock.
A number of hedge funds have recently modified their holdings of the business. Benjamin F. Edwards & Company Inc. raised its holdings in BOX by 15.4% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 3,750 shares of the software maker’s stock valued at $63,000 after acquiring an additional 500 shares during the period. Westside Investment Management Inc. raised its holdings in BOX by 22.2% during the 4th quarter. Westside Investment Management Inc. now owns 3,300 shares of the software maker’s stock valued at $58,000 after acquiring an additional 600 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of BOX by 0.6% in the first quarter. JPMorgan Chase & Co. now owns 160,745 shares of the software maker’s stock worth $3,104,000 after purchasing an additional 989 shares during the period. Natixis Advisors L.P. increased its holdings in shares of BOX by 5.1% in the fourth quarter. Natixis Advisors L.P. now owns 24,412 shares of the software maker’s stock worth $412,000 after purchasing an additional 1,183 shares during the period. Finally, Federated Investors Inc. PA increased its holdings in shares of BOX by 0.5% in the third quarter. Federated Investors Inc. PA now owns 251,191 shares of the software maker’s stock worth $6,006,000 after purchasing an additional 1,191 shares during the period. 66.07% of the stock is currently owned by institutional investors and hedge funds.
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BOX Company Profile (NYSE:BOX)
Box, Inc provides a cloud content management platform that enables organizations of various sizes to manage and share their content from anywhere or any device. The company's Software-as-a-Service platform enables users to collaborate on content internally and with external parties, automate content-driven business processes, develop custom applications, and implement data protection, security, and compliance features.
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