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

Shares of Box, Inc. (NYSE:BOX - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the twelve ratings firms that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and nine have assigned a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $36.60.

BOX has been the subject of a number of recent research reports. Morgan Stanley boosted their target price on BOX from $33.00 to $36.00 and gave the stock an "equal weight" rating in a research report on Wednesday, December 4th. Royal Bank of Canada restated an "underperform" rating and issued a $21.00 price objective on shares of BOX in a report on Wednesday, December 4th. StockNews.com lowered shares of BOX from a "strong-buy" rating to a "buy" rating in a report on Wednesday, January 8th. JPMorgan Chase & Co. lowered their price target on shares of BOX from $38.00 to $37.00 and set an "overweight" rating for the company in a research note on Wednesday. Finally, UBS Group upped their price target on shares of BOX from $34.00 to $42.00 and gave the company a "buy" rating in a research report on Wednesday, December 4th.

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BOX Price Performance

BOX stock traded up $0.12 during midday trading on Tuesday, reaching $32.28. The company had a trading volume of 2,116,996 shares, compared to its average volume of 1,904,604. The firm has a 50-day moving average price of $32.82 and a 200-day moving average price of $32.62. The company has a market capitalization of $4.64 billion, a P/E ratio of 40.35, a P/E/G ratio of 4.42 and a beta of 1.00. 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 share repurchase plan on Tuesday, March 4th that allows the company to buyback $150.00 million in shares. This buyback authorization allows the software maker to reacquire up to 3.1% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other BOX news, CEO Aaron Levie sold 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $32.54, for a total transaction 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 trade represents a 0.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Dylan C. Smith sold 13,000 shares of the firm's stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $32.33, for a total value of $420,290.00. Following the transaction, the chief financial officer now directly owns 1,448,509 shares of the company's stock, valued at approximately $46,830,295.97. This trade represents a 0.89 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 89,041 shares of company stock worth $2,889,758. 4.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On BOX

Several hedge funds have recently added to or reduced their stakes in the stock. Earnest Partners LLC raised its holdings in BOX by 2.1% in the fourth quarter. Earnest Partners LLC now owns 7,896,931 shares of the software maker's stock worth $249,543,000 after buying an additional 162,437 shares during the last quarter. State Street Corp increased its position in shares of BOX by 1.2% during the third quarter. State Street Corp now owns 5,623,032 shares of the software maker's stock valued at $184,042,000 after acquiring an additional 69,107 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of BOX by 103.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,386,370 shares of the software maker's stock valued at $107,009,000 after acquiring an additional 1,725,197 shares in the last quarter. Sei Investments Co. raised its holdings in BOX by 8.4% in the 4th quarter. Sei Investments Co. now owns 3,286,619 shares of the software maker's stock worth $103,857,000 after acquiring an additional 255,623 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in BOX by 0.4% during the 3rd quarter. Geode Capital Management LLC now owns 3,249,823 shares of the software maker's stock valued at $106,387,000 after purchasing an additional 13,028 shares during the last quarter. 86.74% of the stock is owned by institutional investors.

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.