BOX (NYSE:BOX) Coverage Initiated by Analysts at DA Davidson

Equities researchers at DA Davidson started coverage on shares of BOX (NYSE:BOX - Get Free Report) in a research report issued on Wednesday, Marketbeat reports. The firm set a "buy" rating and a $45.00 price target on the software maker's stock. DA Davidson's price target would indicate a potential upside of 40.67% from the company's previous close.

A number of other analysts also recently weighed in on the company. Bank of America initiated coverage on BOX in a report on Thursday, December 12th. They set a "buy" rating and a $40.00 price target for the company. UBS Group raised their target price on BOX from $34.00 to $42.00 and gave the stock a "buy" rating in a research note on Wednesday, December 4th. William Blair reissued an "outperform" rating on shares of BOX in a research note on Thursday, November 14th. StockNews.com raised shares of BOX from a "buy" rating to a "strong-buy" rating in a research report on Friday, December 13th. Finally, Morgan Stanley lifted their price objective on shares of BOX from $33.00 to $36.00 and gave the company an "equal weight" rating in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, BOX has an average rating of "Moderate Buy" and an average price target of $35.89.

BOX Stock Performance

Shares of NYSE:BOX traded down $0.08 during mid-day trading on Wednesday, reaching $31.99. 2,281,792 shares of the company's stock were exchanged, compared to its average volume of 2,006,057. The firm has a market capitalization of $4.60 billion, a price-to-earnings ratio of 39.99 and a beta of 0.86. BOX has a twelve month low of $24.28 and a twelve month high of $35.74. The business's fifty day moving average price is $33.10 and its 200-day moving average price is $30.28.

Insiders Place Their Bets

In related 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 sale, the chief executive officer now directly 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Eli Berkovitch sold 4,792 shares of BOX stock in a transaction on Monday, December 16th. The stock was sold at an average price of $32.46, for a total transaction of $155,548.32. Following the transaction, the vice president now directly owns 140,172 shares in the company, valued at $4,549,983.12. This represents a 3.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 62,178 shares of company stock worth $2,046,898. Insiders own 4.10% of the company's stock.

Hedge Funds Weigh In On BOX

Hedge funds and other institutional investors have recently modified their holdings of the business. SG Americas Securities LLC boosted its holdings in shares of BOX by 80.7% in the 2nd quarter. SG Americas Securities LLC now owns 15,794 shares of the software maker's stock worth $418,000 after buying an additional 7,053 shares during the last quarter. Nisa Investment Advisors LLC grew its position in shares of BOX by 31.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,627 shares of the software maker's stock valued at $69,000 after acquiring an additional 632 shares during the period. Fifth Third Bancorp grew its position in shares of BOX by 1.2% during the 2nd quarter. Fifth Third Bancorp now owns 86,171 shares of the software maker's stock valued at $2,278,000 after acquiring an additional 1,052 shares during the period. Louisiana State Employees Retirement System increased its stake in shares of BOX by 2.1% during the 2nd quarter. Louisiana State Employees Retirement System now owns 72,600 shares of the software maker's stock worth $1,920,000 after purchasing an additional 1,500 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of BOX by 7.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,603,725 shares of the software maker's stock worth $42,402,000 after purchasing an additional 104,228 shares during the period. Hedge funds and other institutional investors own 86.74% of the company's stock.

About BOX

Box, Inc provides a cloud content management platform that enables organizations of various sizes to manage and share their content from anywhere on any device. The company's Software-as-a-Service platform enables users to work with their content as they need from secure external collaboration and sharing, workspaces and portals, e-signature processes, and content workflows improving employee productivity and accelerating business processes.