BOX (NYSE:BOX) Reaches New 1-Year High – Time to Buy?

Shares of Box, Inc. (NYSE:BOX) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $34.03 and last traded at $33.95, with a volume of 28492 shares. The stock had previously closed at $33.55.

Analyst Ratings Changes

Several brokerages have recently commented on BOX. Monness Crespi & Hardt upgraded BOX to a “hold” rating in a report on Friday, August 16th. UBS Group increased their price target on BOX from $31.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. Citigroup boosted their price target on BOX from $32.00 to $34.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. StockNews.com raised shares of BOX from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 15th. Finally, Morgan Stanley lifted their price target on BOX from $30.00 to $33.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $31.22.

BOX Trading Up 1.3 %

The company has a fifty day moving average price of $32.49 and a two-hundred day moving average price of $28.79. The firm has a market capitalization of $4.87 billion, a price-to-earnings ratio of 42.47 and a beta of 0.85.

BOX (NYSE:BOX) last announced its quarterly earnings data on Tuesday, August 27th. The software maker reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.04. BOX had a negative return on equity of 14.41% and a net margin of 13.94%. The business had revenue of $270.04 million during the quarter, compared to the consensus estimate of $269.52 million. During the same period in the previous year, the company posted $0.01 earnings per share. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. As a group, equities research analysts expect that Box, Inc. will post 0.23 earnings per share for the current year.

Insider Transactions at BOX

In other BOX news, Director Jack R. Lazar sold 7,000 shares of the company’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $32.68, for a total transaction of $228,760.00. Following the completion of the transaction, the director now owns 29,197 shares in the company, valued at approximately $954,157.96. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other BOX news, CFO Dylan C. Smith sold 13,000 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $27.05, for a total transaction of $351,650.00. Following the sale, the chief financial officer now owns 1,513,661 shares in the company, valued at approximately $40,944,530.05. This represents a 0.00 % 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 Jack R. Lazar sold 7,000 shares of the business’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $32.68, for a total value of $228,760.00. Following the completion of the transaction, the director now directly owns 29,197 shares of the company’s stock, valued at approximately $954,157.96. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 56,000 shares of company stock worth $1,759,940 over the last 90 days. 4.10% of the stock is currently owned by insiders.

Institutional Trading of BOX

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BOX. Assenagon Asset Management S.A. grew its holdings in shares of BOX by 143.6% during the second quarter. Assenagon Asset Management S.A. now owns 254,975 shares of the software maker’s stock worth $6,742,000 after buying an additional 150,309 shares in the last quarter. Vanguard Group Inc. lifted its position in BOX by 14.9% during the first quarter. Vanguard Group Inc. now owns 17,313,882 shares of the software maker’s stock worth $490,329,000 after buying an additional 2,249,082 shares during the period. Teachers Retirement System of The State of Kentucky purchased a new stake in BOX in the 1st quarter valued at about $1,096,000. Mutual of America Capital Management LLC acquired a new position in shares of BOX during the 1st quarter valued at about $701,000. Finally, Comerica Bank lifted its holdings in shares of BOX by 964.7% during the 1st quarter. Comerica Bank now owns 85,081 shares of the software maker’s stock worth $2,409,000 after acquiring an additional 77,090 shares during the period. Hedge funds and other institutional investors 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.