BOX (NYSE:BOX) Now Covered by Analysts at DA Davidson

DA Davidson assumed coverage on shares of BOX (NYSE:BOX) in a research report report published on Wednesday morning, MarketBeat Ratings reports. The brokerage issued a buy rating and a $45.00 price objective on the software maker’s stock.

Other equities research analysts also recently issued reports about the company. UBS Group raised their target price on BOX from $34.00 to $42.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Royal Bank of Canada reiterated an “underperform” rating and set a $21.00 price objective on shares of BOX in a research note on Wednesday, December 4th. Citigroup upped their target price on shares of BOX from $34.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Morgan Stanley lifted their price target 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. Finally, Bank of America assumed coverage on shares of BOX in a research report on Thursday, December 12th. They issued a “buy” rating and a $40.00 price objective for the company. One analyst has rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $35.89.

BOX Stock Performance

Shares of NYSE:BOX traded up $0.02 during trading on Wednesday, reaching $32.01. 95,686 shares of the stock were exchanged, compared to its average volume of 1,998,154. The firm’s 50-day moving average price is $33.10 and its 200 day moving average price is $30.28. The firm has a market cap of $4.60 billion, a price-to-earnings ratio of 40.01 and a beta of 0.86. BOX has a 12-month low of $24.28 and a 12-month high of $35.74.

Insider Activity

In related news, Director Jack R. Lazar sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $34.75, for a total transaction of $86,875.00. Following the completion of the sale, the director now directly owns 26,697 shares in the company, valued at approximately $927,720.75. This trade represents a 8.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Eli Berkovitch sold 4,792 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $32.46, for a total transaction of $155,548.32. Following the completion of the sale, the vice president now owns 140,172 shares of the company’s stock, valued at approximately $4,549,983.12. The trade was a 3.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 62,178 shares of company stock worth $2,046,898 over the last 90 days. 4.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Congress Asset Management Co. acquired a new stake in BOX in the 3rd quarter worth approximately $46,236,000. Earnest Partners LLC lifted its stake 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 worth $210,487,000 after buying an additional 620,450 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of BOX by 9.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,564,668 shares of the software maker’s stock worth $67,809,000 after buying an additional 229,314 shares during the period. Charles Schwab Investment Management Inc. grew its stake in BOX by 10.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,371,815 shares of the software maker’s stock valued at $44,900,000 after buying an additional 134,175 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec bought a new position in BOX in the 3rd quarter worth $4,314,000. 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.