BOX (NYSE:BOX) Price Target Cut to $37.00 by Analysts at JPMorgan Chase & Co.

BOX (NYSE:BOX) had its price target decreased by JPMorgan Chase & Co. from $38.00 to $37.00 in a research report report published on Wednesday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the software maker’s stock.

Several other brokerages also recently commented on BOX. Citigroup raised their target price on BOX from $34.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Bank of America assumed coverage on BOX in a research note on Thursday, December 12th. They issued a “buy” rating and a $40.00 target price for the company. UBS Group lifted their price target on BOX from $34.00 to $42.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. StockNews.com downgraded BOX from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, January 8th. Finally, Morgan Stanley lifted their price target on BOX from $33.00 to $36.00 and gave the company an “equal weight” rating in a research note 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 stock has a consensus rating of “Moderate Buy” and a consensus price target of $36.60.

BOX Price Performance

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

BOX announced that its board has approved a share repurchase program on Tuesday, March 4th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the software maker to buy up to 3.1% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In other BOX news, COO Olivia Nottebohm sold 12,414 shares of the business’s stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $31.85, for a total transaction of $395,385.90. Following the sale, the chief operating officer now owns 453,146 shares of the company’s stock, valued at $14,432,700.10. The trade was a 2.67 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Dylan C. Smith sold 13,000 shares of the business’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $34.32, for a total transaction of $446,160.00. Following the sale, the chief financial officer now directly owns 1,453,684 shares in the company, valued at $49,890,434.88. The trade was a 0.89 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 89,041 shares of company stock valued at $2,889,758. 4.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On BOX

A number of hedge funds and other institutional investors have recently bought and sold shares of BOX. Itau Unibanco Holding S.A. bought a new stake in BOX during the 3rd quarter valued at $36,000. Smartleaf Asset Management LLC grew its position in shares of BOX by 715.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,162 shares of the software maker’s stock valued at $69,000 after purchasing an additional 1,897 shares in the last quarter. TD Waterhouse Canada Inc. grew its position in shares of BOX by 42.4% during the 4th quarter. TD Waterhouse Canada Inc. now owns 2,194 shares of the software maker’s stock valued at $69,000 after purchasing an additional 653 shares in the last quarter. Farther Finance Advisors LLC grew its position in shares of BOX by 245.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,162 shares of the software maker’s stock valued at $71,000 after purchasing an additional 1,536 shares in the last quarter. Finally, SBI Securities Co. Ltd. purchased a new position in shares of BOX during the 4th quarter valued at $132,000. Institutional investors own 86.74% of the company’s stock.

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.