Box, Inc. (NYSE:BOX) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Box, Inc. (NYSE:BOX) has been given an average recommendation of “Moderate Buy” by the eleven research firms that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and eight have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $37.11.

BOX has been the topic of several research analyst reports. Raymond James reissued an “outperform” rating and issued a $38.00 target price (down previously from $40.00) on shares of BOX in a report on Wednesday, March 5th. Royal Bank of Canada reiterated an “underperform” rating and issued a $21.00 price target on shares of BOX in a research note on Wednesday, March 19th. Morgan Stanley increased their price objective on shares of BOX from $33.00 to $36.00 and gave the company an “equal weight” rating in a report on Wednesday, December 4th. Citigroup lifted their target price on BOX from $34.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, JPMorgan Chase & Co. dropped their price target on BOX from $38.00 to $37.00 and set an “overweight” rating for the company in a research note on Wednesday, March 5th.

Insider Transactions at BOX

In related news, VP Eli Berkovitch sold 5,651 shares of the company’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $30.66, for a total transaction of $173,259.66. Following the transaction, the vice president now directly owns 124,672 shares in the company, valued at approximately $3,822,443.52. This represents a 4.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Olivia Nottebohm sold 2,105 shares of the stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $30.76, for a total transaction of $64,749.80. Following the completion of the sale, the chief operating officer now directly owns 427,113 shares in the company, valued at $13,137,995.88. This trade represents a 0.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 73,705 shares of company stock worth $2,375,998. 4.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in BOX. Itau Unibanco Holding S.A. purchased a new position in shares of BOX during the third quarter worth approximately $36,000. Smartleaf Asset Management LLC grew its stake in BOX by 715.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,162 shares of the software maker’s stock worth $69,000 after purchasing an additional 1,897 shares in the last quarter. TD Waterhouse Canada Inc. increased its holdings in BOX by 42.4% during the 4th quarter. TD Waterhouse Canada Inc. now owns 2,194 shares of the software maker’s stock worth $69,000 after purchasing an additional 653 shares during the period. Farther Finance Advisors LLC raised its position in BOX by 19.3% during the 4th quarter. Farther Finance Advisors LLC now owns 2,579 shares of the software maker’s stock valued at $81,000 after purchasing an additional 417 shares in the last quarter. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of BOX in the 4th quarter worth $132,000. Hedge funds and other institutional investors own 86.74% of the company’s stock.

BOX Trading Down 1.7 %

NYSE BOX opened at $31.12 on Friday. BOX has a 12 month low of $24.63 and a 12 month high of $35.74. The stock has a market cap of $4.47 billion, a PE ratio of 38.90, a P/E/G ratio of 4.42 and a beta of 1.00. The stock’s 50 day moving average is $32.69 and its 200 day moving average is $32.65.

BOX announced that its board has initiated a stock repurchase plan on Tuesday, March 4th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the software maker to purchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

BOX Company Profile

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.