Box, Inc. (NYSE:BOX) Given Consensus Rating of "Moderate Buy" by Brokerages

Box, Inc. (NYSE:BOX - Get Free Report) has earned a consensus rating of "Moderate Buy" from the eleven research firms that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and eight have given a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $36.44.

A number of brokerages have issued reports on BOX. Raymond James reissued an "outperform" rating and set a $38.00 price objective (down from $40.00) on shares of BOX in a research report on Wednesday, March 5th. Royal Bank of Canada reaffirmed an "underperform" rating and set a $21.00 price objective on shares of BOX in a research report on Wednesday, March 19th. Morgan Stanley cut their target price on BOX from $36.00 to $35.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. StockNews.com downgraded BOX from a "strong-buy" rating to a "buy" rating in a report on Wednesday, January 8th. Finally, DA Davidson cut their price objective on shares of BOX from $45.00 to $40.00 and set a "buy" rating on the stock in a research report on Monday, April 14th.

Insider Activity at BOX

In other news, COO Olivia Nottebohm sold 6,079 shares of the business's stock in a transaction on Monday, February 10th. The shares were sold at an average price of $34.42, for a total value of $209,239.18. Following the transaction, the chief operating officer now owns 440,988 shares of the company's stock, valued at approximately $15,178,806.96. The trade was a 1.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Aaron Levie sold 10,000 shares of the firm's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $32.08, for a total transaction of $320,800.00. Following the transaction, the chief executive officer now directly owns 2,979,780 shares of the company's stock, valued at $95,591,342.40. The trade was a 0.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,917 shares of company stock worth $2,135,905. 4.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in BOX. MML Investors Services LLC purchased a new stake in shares of BOX in the third quarter worth about $266,000. Franklin Resources Inc. boosted its position in shares of BOX by 8.2% during the 3rd quarter. Franklin Resources Inc. now owns 21,823 shares of the software maker's stock valued at $712,000 after acquiring an additional 1,646 shares during the last quarter. Central Pacific Bank Trust Division grew its holdings in shares of BOX by 9.6% in the fourth quarter. Central Pacific Bank Trust Division now owns 6,070 shares of the software maker's stock valued at $192,000 after purchasing an additional 530 shares in the last quarter. Nordea Investment Management AB increased its position in BOX by 4.2% in the fourth quarter. Nordea Investment Management AB now owns 356,309 shares of the software maker's stock worth $11,295,000 after purchasing an additional 14,208 shares during the last quarter. Finally, CWA Asset Management Group LLC raised its stake in BOX by 60.7% during the fourth quarter. CWA Asset Management Group LLC now owns 23,875 shares of the software maker's stock valued at $754,000 after purchasing an additional 9,016 shares in the last quarter. Institutional investors own 86.74% of the company's stock.

BOX Trading Up 1.7 %

Shares of NYSE:BOX opened at $29.80 on Wednesday. The company has a market cap of $4.29 billion, a price-to-earnings ratio of 37.25, a price-to-earnings-growth ratio of 4.42 and a beta of 0.96. BOX has a 12 month low of $24.63 and a 12 month high of $35.74. The company has a 50-day moving average price of $31.42 and a 200-day moving average price of $32.30.

BOX declared that its board has authorized a share buyback plan on Tuesday, March 4th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the software maker to purchase up to 3.1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's leadership believes its shares are undervalued.

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.

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