BOX’s (BOX) “Outperform” Rating Reaffirmed at Raymond James

Raymond James reiterated their outperform rating on shares of BOX (NYSE:BOX) in a report published on Wednesday,Benzinga reports. The brokerage currently has a $38.00 target price on the software maker’s stock, down from their prior target price of $40.00.

Several other analysts have also weighed in on the company. Morgan Stanley boosted their price objective on BOX from $33.00 to $36.00 and gave the company an “equal weight” rating in a report on Wednesday, December 4th. William Blair reiterated an “outperform” rating on shares of BOX in a report on Thursday, November 14th. UBS Group raised their price objective on BOX from $34.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Bank of America started coverage on shares of BOX in a research note on Thursday, December 12th. They set a “buy” rating and a $40.00 target price for the company. Finally, Citigroup raised their price target on shares of BOX from $34.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.60.

BOX Stock Performance

BOX opened at $32.44 on Wednesday. The company has a market capitalization of $4.66 billion, a P/E ratio of 40.54, a PEG ratio of 4.42 and a beta of 0.88. The company has a 50-day moving average of $32.82 and a 200-day moving average of $32.62. BOX has a 1-year low of $24.63 and a 1-year high of $35.74.

BOX declared that its board has approved a stock repurchase program on Tuesday, March 4th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the software maker to reacquire up to 3.1% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling at BOX

In other news, CEO Aaron Levie sold 10,000 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $32.54, for a total value of $325,400.00. Following the completion of the transaction, the chief executive officer now owns 2,999,155 shares of the company’s stock, valued at approximately $97,592,503.70. This represents a 0.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Daniel J. Levin sold 5,886 shares of the stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $32.50, for a total transaction of $191,295.00. Following the completion of the transaction, the director now owns 51,530 shares of the company’s stock, valued at $1,674,725. This represents a 10.25 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 89,041 shares of company stock worth $2,889,758. 4.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On BOX

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC boosted its stake in BOX by 5.3% during the 4th quarter. Janney Montgomery Scott LLC now owns 7,807 shares of the software maker’s stock valued at $247,000 after purchasing an additional 391 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in BOX by 19.3% during the fourth quarter. Farther Finance Advisors LLC now owns 2,579 shares of the software maker’s stock valued at $81,000 after buying an additional 417 shares in the last quarter. Sanctuary Advisors LLC grew its holdings in BOX by 1.2% during the fourth quarter. Sanctuary Advisors LLC now owns 35,775 shares of the software maker’s stock worth $1,189,000 after acquiring an additional 423 shares during the period. Aspiriant LLC raised its position in BOX by 5.0% in the fourth quarter. Aspiriant LLC now owns 9,048 shares of the software maker’s stock worth $286,000 after acquiring an additional 427 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in BOX by 2.6% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 17,340 shares of the software maker’s stock valued at $548,000 after acquiring an additional 442 shares during the last quarter. Institutional investors own 86.74% of the company’s stock.

About BOX

Box, Inc engages in the provision of an enterprise content platform that enables organizations to securely manage enterprise content while allowing easy, secure access and sharing of this content from anywhere, on any device. Its products include cloud content management, IT and admin controls, Box Governance, Box Zones, Box Relay, Box Shuttle, and Box KeySafe.