BOX (NYSE:BOX) Rating Increased to Strong-Buy at StockNews.com

BOX (NYSE:BOX) was upgraded by StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Friday.

Other equities research analysts have also issued reports about the company. Monness Crespi & Hardt raised BOX to a “hold” rating in a research report on Friday, August 16th. Royal Bank of Canada restated an “underperform” rating and set a $21.00 price objective on shares of BOX in a report on Wednesday, December 4th. Citigroup raised their target price on shares of BOX from $34.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. William Blair restated an “outperform” rating on shares of BOX in a report on Thursday, November 14th. Finally, Morgan Stanley raised their price objective on shares of BOX from $33.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, BOX currently has an average rating of “Moderate Buy” and an average price target of $34.75.

BOX Stock Performance

Shares of NYSE:BOX traded down $0.54 during trading hours on Friday, hitting $32.48. 949,039 shares of the company’s stock traded hands, compared to its average volume of 2,009,821. The company’s fifty day simple moving average is $33.10 and its two-hundred day simple moving average is $30.14. BOX has a 52 week low of $24.28 and a 52 week high of $35.74. The company has a market cap of $4.65 billion, a price-to-earnings ratio of 40.60 and a beta of 0.86.

Insider Activity

In related news, Director Daniel J. Levin sold 5,886 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $32.50, for a total value of $191,295.00. Following the completion of the sale, the director now owns 51,530 shares of the company’s stock, valued at approximately $1,674,725. The trade was a 10.25 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Dylan C. Smith sold 13,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $32.52, for a total transaction of $422,760.00. Following the transaction, the chief financial officer now directly owns 1,474,509 shares in the company, valued at approximately $47,951,032.68. The trade was a 0.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 57,386 shares of company stock worth $1,891,350 in the last ninety days. Corporate insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On BOX

Several institutional investors and hedge funds have recently modified their holdings of the business. Glenmede Trust Co. NA raised its holdings in BOX by 1.6% during the third quarter. Glenmede Trust Co. NA now owns 34,107 shares of the software maker’s stock valued at $1,116,000 after buying an additional 535 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of BOX by 3.7% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 15,831 shares of the software maker’s stock valued at $419,000 after acquiring an additional 560 shares in the last quarter. Connable Office Inc. lifted its holdings in BOX by 3.8% in the 2nd quarter. Connable Office Inc. now owns 15,707 shares of the software maker’s stock worth $415,000 after purchasing an additional 573 shares during the last quarter. Creative Planning boosted its position in BOX by 4.2% during the third quarter. Creative Planning now owns 15,743 shares of the software maker’s stock worth $515,000 after purchasing an additional 631 shares during the period. Finally, Nisa Investment Advisors LLC grew its holdings in BOX by 31.7% during the second quarter. Nisa Investment Advisors LLC now owns 2,627 shares of the software maker’s stock valued at $69,000 after purchasing an additional 632 shares during the last quarter. Institutional investors and hedge funds own 86.74% of the company’s stock.

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.