BOX (NYSE:BOX) Now Covered by Analysts at Bank of America

Bank of America initiated coverage on shares of BOX (NYSE:BOX) in a research note released on Thursday, Marketbeat reports. The brokerage issued a buy rating and a $40.00 target price on the software maker’s stock.

A number of other brokerages have also weighed in on BOX. Morgan Stanley upped their price objective on BOX from $33.00 to $36.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 4th. UBS Group upped their price target on shares of BOX from $34.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. William Blair reiterated an “outperform” rating on shares of BOX in a research note on Thursday, November 14th. Monness Crespi & Hardt raised shares of BOX to a “hold” rating in a report on Friday, August 16th. Finally, StockNews.com cut shares of BOX from a “strong-buy” rating to a “buy” rating in a report on Thursday, December 5th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.75.

BOX Trading Up 2.3 %

NYSE BOX opened at $33.02 on Thursday. The stock has a market capitalization of $4.73 billion, a price-to-earnings ratio of 41.28 and a beta of 0.86. The business’s 50 day moving average is $33.09 and its two-hundred day moving average is $30.09. BOX has a 12-month low of $24.15 and a 12-month high of $35.74.

Insiders Place Their Bets

In other BOX news, CFO Dylan C. Smith sold 13,000 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $32.33, for a total transaction of $420,290.00. Following the sale, the chief financial officer now owns 1,448,509 shares in the company, valued at approximately $46,830,295.97. This represents a 0.89 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Daniel J. Levin sold 5,886 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 51,530 shares of the company’s stock, valued at $1,674,725. The trade was a 10.25 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 57,386 shares of company stock worth $1,891,350. Insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC grew its holdings in shares of BOX by 80.7% during the second quarter. SG Americas Securities LLC now owns 15,794 shares of the software maker’s stock worth $418,000 after buying an additional 7,053 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in BOX by 143.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 254,975 shares of the software maker’s stock worth $6,742,000 after acquiring an additional 150,309 shares during the period. Blue Trust Inc. raised its holdings in BOX by 20.9% in the 2nd quarter. Blue Trust Inc. now owns 11,448 shares of the software maker’s stock valued at $324,000 after acquiring an additional 1,982 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of BOX by 31.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,627 shares of the software maker’s stock worth $69,000 after purchasing an additional 632 shares during the period. Finally, Neo Ivy Capital Management purchased a new position in shares of BOX during the 2nd quarter worth $1,406,000. Institutional investors and hedge funds own 86.74% of the company’s stock.

About BOX

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.