Raymond James Reaffirms "Outperform" Rating for BOX (NYSE:BOX)

BOX (NYSE:BOX - Get Free Report)'s stock had its "outperform" rating reaffirmed by research analysts at Raymond James in a report issued on Wednesday,Benzinga reports. They presently have a $38.00 price target on the software maker's stock, down from their prior price target of $40.00. Raymond James' price target indicates a potential upside of 17.71% from the stock's previous close.

BOX has been the subject of a number of other research reports. William Blair restated an "outperform" rating on shares of BOX in a research note on Thursday, November 14th. StockNews.com lowered BOX from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, January 8th. Citigroup lifted their price objective on BOX from $34.00 to $40.00 and gave the company a "buy" rating in a research note on Wednesday, December 4th. Bank of America began coverage on BOX in a research note on Thursday, December 12th. They set a "buy" rating and a $40.00 price objective for the company. Finally, Morgan Stanley lifted their price objective on BOX from $33.00 to $36.00 and gave the company an "equal weight" rating in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $36.60.

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BOX Stock Up 0.4 %

Shares of BOX stock traded up $0.12 during trading on Wednesday, reaching $32.28. The company's stock had a trading volume of 2,116,996 shares, compared to its average volume of 1,888,260. The company has a market cap of $4.64 billion, a price-to-earnings ratio of 40.35, a P/E/G ratio of 4.42 and a beta of 1.00. The company has a 50-day simple moving average of $32.82 and a two-hundred day simple moving average of $32.70. BOX has a 1-year low of $24.63 and a 1-year high of $35.74.

BOX declared that its Board of Directors has authorized a stock buyback program 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 stock through open market purchases. Stock buyback programs are often an indication that the company's board of directors believes its stock is undervalued.

Insider Transactions at BOX

In other news, CFO Dylan C. Smith sold 13,000 shares of BOX stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $31.05, for a total transaction of $403,650.00. Following the sale, the chief financial officer now owns 1,466,684 shares of the company's stock, valued at approximately $45,540,538.20. The trade was a 0.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Eli Berkovitch sold 4,791 shares of BOX stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $31.06, for a total transaction of $148,808.46. Following the sale, the vice president now directly owns 132,741 shares in the company, valued at approximately $4,122,935.46. The trade was a 3.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 89,041 shares of company stock worth $2,889,758 in the last ninety days. Insiders own 4.10% of the company's stock.

Institutional Trading of BOX

Institutional investors have recently made changes to their positions in the company. Earnest Partners LLC raised its position in BOX by 2.1% in the fourth quarter. Earnest Partners LLC now owns 7,896,931 shares of the software maker's stock valued at $249,543,000 after purchasing an additional 162,437 shares during the period. State Street Corp raised its position in BOX by 1.2% in the third quarter. State Street Corp now owns 5,623,032 shares of the software maker's stock valued at $184,042,000 after purchasing an additional 69,107 shares during the period. Arrowstreet Capital Limited Partnership raised its position in BOX by 103.9% in 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 purchasing an additional 1,725,197 shares during the period. Sei Investments Co. raised its position in BOX by 8.4% in the fourth quarter. Sei Investments Co. now owns 3,286,619 shares of the software maker's stock valued at $103,857,000 after purchasing an additional 255,623 shares during the period. Finally, Geode Capital Management LLC raised its position in BOX by 0.4% in 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 purchasing an additional 13,028 shares during the period. Hedge funds and other institutional investors own 86.74% of the company's stock.

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.