BOX (NYSE:BOX) Sets New 1-Year High at $33.56

Box, Inc. (NYSE:BOX) reached a new 52-week high during trading on Monday . The company traded as high as $33.56 and last traded at $33.31, with a volume of 80107 shares changing hands. The stock had previously closed at $33.29.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on BOX shares. Monness Crespi & Hardt upgraded shares of BOX to a “hold” rating in a research report on Friday, August 16th. Royal Bank of Canada reissued an “underperform” rating and set a $21.00 target price on shares of BOX in a research note on Wednesday, August 28th. UBS Group raised their price target on shares of BOX from $31.00 to $34.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. Morgan Stanley boosted their price target on BOX from $30.00 to $33.00 and gave the company an “equal weight” rating in a report on Thursday, September 5th. Finally, Citigroup raised their price objective on BOX from $32.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $31.22.

BOX Stock Performance

The company has a market capitalization of $4.81 billion, a price-to-earnings ratio of 45.60 and a beta of 0.85. The business’s 50 day moving average is $28.67 and its 200 day moving average is $27.63.

BOX (NYSE:BOX) last released its earnings results on Tuesday, August 27th. The software maker reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.04. The firm had revenue of $270.04 million for the quarter, compared to the consensus estimate of $269.52 million. BOX had a negative return on equity of 14.41% and a net margin of 13.94%. The firm’s revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.01 EPS. Sell-side analysts predict that Box, Inc. will post 0.23 EPS for the current year.

Insider Buying and Selling at BOX

In other news, VP Eli Berkovitch sold 2,500 shares of the company’s stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $25.25, for a total value of $63,125.00. Following the sale, the vice president now owns 147,232 shares in the company, valued at $3,717,608. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Dylan C. Smith sold 13,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $24.97, for a total transaction of $324,610.00. Following the completion of the transaction, the chief financial officer now directly owns 1,526,661 shares of the company’s stock, valued at approximately $38,120,725.17. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Eli Berkovitch sold 2,500 shares of BOX stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $25.25, for a total transaction of $63,125.00. Following the completion of the sale, the vice president now directly owns 147,232 shares in the company, valued at approximately $3,717,608. The disclosure for this sale can be found here. In the last quarter, insiders sold 73,260 shares of company stock worth $2,113,560. Insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On BOX

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in BOX by 14.9% in the 1st quarter. Vanguard Group Inc. now owns 17,313,882 shares of the software maker’s stock valued at $490,329,000 after buying an additional 2,249,082 shares in the last quarter. Earnest Partners LLC grew its holdings in shares of BOX by 8.5% in the second quarter. Earnest Partners LLC now owns 7,960,924 shares of the software maker’s stock valued at $210,487,000 after purchasing an additional 620,450 shares during the period. Sei Investments Co. increased its position in BOX by 4.2% during the second quarter. Sei Investments Co. now owns 3,078,857 shares of the software maker’s stock worth $81,405,000 after purchasing an additional 125,435 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in BOX by 9.8% during the second quarter. Dimensional Fund Advisors LP now owns 2,564,668 shares of the software maker’s stock worth $67,809,000 after purchasing an additional 229,314 shares during the period. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in BOX by 19.4% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 2,374,580 shares of the software maker’s stock valued at $67,248,000 after purchasing an additional 386,149 shares during the last quarter. 86.74% of the stock is owned by hedge funds and other institutional investors.

BOX Company Profile

Box, Inc provides a cloud content management platform that enables organizations of various sizes to manage and share their content from anywhere on any device. The company's Software-as-a-Service platform enables users to work with their content as they need from secure external collaboration and sharing, workspaces and portals, e-signature processes, and content workflows improving employee productivity and accelerating business processes.