JPMorgan Chase & Co. Has Lowered Expectations for BOX (NYSE:BOX) Stock Price

BOX (NYSE:BOX - Get Free Report) had its price target decreased by investment analysts at JPMorgan Chase & Co. from $38.00 to $37.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an "overweight" rating on the software maker's stock. JPMorgan Chase & Co.'s target price would suggest a potential upside of 14.61% from the company's previous close.

A number of other equities analysts have also recently commented on the stock. Royal Bank of Canada reiterated an "underperform" rating and issued a $21.00 target price on shares of BOX in a research report on Wednesday, December 4th. Bank of America began coverage on shares of BOX in a research report on Thursday, December 12th. They issued a "buy" rating and a $40.00 target price on the stock. UBS Group lifted their target price on shares of BOX from $34.00 to $42.00 and gave the stock a "buy" rating in a research report on Wednesday, December 4th. Morgan Stanley lifted their target price on shares of BOX from $33.00 to $36.00 and gave the stock an "equal weight" rating in a research report on Wednesday, December 4th. Finally, StockNews.com cut shares of BOX from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, January 8th. 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's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $36.60.

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BOX Price Performance

NYSE BOX traded up $0.12 on Wednesday, reaching $32.28. 2,116,996 shares of the company's stock traded hands, compared to its average volume of 1,888,260. BOX has a 12 month low of $24.63 and a 12 month high of $35.74. The stock has a 50-day simple moving average of $32.82 and a 200 day simple moving average of $32.67. The stock has a market cap of $4.64 billion, a PE ratio of 40.35, a P/E/G ratio of 4.42 and a beta of 1.00.

BOX declared that its board has initiated a share repurchase plan on Tuesday, March 4th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the software maker to buy up to 3.1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management believes its shares are undervalued.

Insider Buying and Selling at BOX

In related news, VP Eli Berkovitch sold 4,792 shares of the business's stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $32.46, for a total transaction of $155,548.32. Following the transaction, the vice president now owns 140,172 shares in the company, valued at $4,549,983.12. The trade was a 3.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Olivia Nottebohm sold 12,414 shares of the business's stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $31.85, for a total transaction of $395,385.90. Following the transaction, the chief operating officer now owns 453,146 shares in the company, valued at $14,432,700.10. This represents a 2.67 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have 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

Hedge funds have recently bought and sold shares of the business. Itau Unibanco Holding S.A. bought a new stake in BOX during the third quarter worth about $36,000. Smartleaf Asset Management LLC boosted its stake in BOX by 715.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,162 shares of the software maker's stock worth $69,000 after acquiring an additional 1,897 shares in the last quarter. TD Waterhouse Canada Inc. boosted its stake in BOX by 42.4% during the fourth quarter. TD Waterhouse Canada Inc. now owns 2,194 shares of the software maker's stock worth $69,000 after acquiring an additional 653 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in BOX by 245.4% during the third quarter. Farther Finance Advisors LLC now owns 2,162 shares of the software maker's stock worth $71,000 after acquiring an additional 1,536 shares in the last quarter. Finally, SBI Securities Co. Ltd. bought a new stake in BOX during the fourth quarter worth about $132,000. 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.