BOX (NYSE:BOX) Price Target Cut to $35.00 by Analysts at Morgan Stanley

BOX (NYSE:BOX - Free Report) had its price objective decreased by Morgan Stanley from $36.00 to $35.00 in a research note issued to investors on Wednesday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the software maker's stock.

Several other research firms have also issued reports on BOX. JPMorgan Chase & Co. cut their target price on BOX from $38.00 to $37.00 and set an "overweight" rating on the stock in a research note on Wednesday, March 5th. Raymond James reaffirmed an "outperform" rating and issued a $38.00 price objective (down previously from $40.00) on shares of BOX in a research report on Wednesday, March 5th. StockNews.com cut shares of BOX from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, January 8th. Royal Bank of Canada reaffirmed an "underperform" rating and issued a $21.00 price target on shares of BOX in a report on Wednesday, March 19th. Finally, DA Davidson decreased their price objective on BOX from $45.00 to $40.00 and set a "buy" rating for the company in a report on Monday, April 14th. One analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $36.44.

BOX Stock Down 0.4 %

BOX stock traded down $0.13 during trading on Wednesday, hitting $29.65. 928,340 shares of the company's stock traded hands, compared to its average volume of 1,818,450. The business has a fifty day simple moving average of $31.64 and a two-hundred day simple moving average of $32.33. The firm has a market capitalization of $4.26 billion, a P/E ratio of 37.06, a PEG ratio of 4.42 and a beta of 0.96. BOX has a 1 year low of $24.63 and a 1 year high of $35.74.

BOX announced that its Board of Directors 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 stock through open market purchases. Stock repurchase programs are typically a sign that the company's leadership believes its shares are undervalued.

Insider Buying and Selling

In other news, COO Olivia Nottebohm sold 1,332 shares of the business's stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $29.01, for a total value of $38,641.32. Following the completion of the sale, the chief operating officer now directly owns 492,545 shares in the company, valued at $14,288,730.45. The trade was a 0.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Dylan C. Smith sold 13,000 shares of the company's stock in a transaction that occurred on Thursday, April 10th. The stock was sold at an average price of $29.72, for a total value of $386,360.00. Following the transaction, the chief financial officer now directly owns 1,463,951 shares of the company's stock, valued at approximately $43,508,623.72. The trade was a 0.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 72,996 shares of company stock valued at $2,329,886 over the last ninety days. Company insiders own 4.10% of the company's stock.

Institutional Investors Weigh In On BOX

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Stifel Financial Corp increased its stake in shares of BOX by 34.6% during the third quarter. Stifel Financial Corp now owns 41,026 shares of the software maker's stock worth $1,343,000 after purchasing an additional 10,542 shares in the last quarter. MML Investors Services LLC purchased a new stake in BOX during the 3rd quarter worth approximately $266,000. Geode Capital Management LLC raised its holdings in shares of BOX by 0.4% during the third quarter. Geode Capital Management LLC now owns 3,249,823 shares of the software maker's stock valued at $106,387,000 after acquiring an additional 13,028 shares during the last quarter. Sanctuary Advisors LLC lifted its position in shares of BOX by 24.5% in the third quarter. Sanctuary Advisors LLC now owns 35,352 shares of the software maker's stock valued at $1,212,000 after acquiring an additional 6,965 shares in the last quarter. Finally, Franklin Resources Inc. boosted its stake in shares of BOX by 8.2% in the third quarter. Franklin Resources Inc. now owns 21,823 shares of the software maker's stock worth $712,000 after acquiring an additional 1,646 shares during the last quarter. Hedge funds and other institutional investors own 86.74% of the company's stock.

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.