Box, Inc. (NYSE:BOX) Given Average Rating of “Moderate Buy” by Brokerages

Box, Inc. (NYSE:BOX) has received a consensus rating of “Moderate Buy” from the ten ratings firms that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $38.50.

BOX has been the topic of several research reports. DA Davidson set a $45.00 target price on BOX and gave the company a “buy” rating in a research report on Wednesday, May 28th. Royal Bank of Canada increased their target price on shares of BOX from $21.00 to $24.00 and gave the company an “underperform” rating in a research report on Wednesday, May 28th. UBS Group upgraded shares of BOX from a “buy” rating to a “strong-buy” rating and boosted their price target for the stock from $37.00 to $40.00 in a research report on Wednesday, May 28th. Wall Street Zen raised BOX from a “buy” rating to a “strong-buy” rating in a report on Wednesday, May 14th. Finally, JPMorgan Chase & Co. raised their price objective on shares of BOX from $37.00 to $39.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 28th.

Insider Buying and Selling

In related news, COO Olivia Nottebohm sold 1,332 shares of the stock in a transaction on Monday, April 7th. The shares were sold at an average price of $29.01, for a total value of $38,641.32. Following the transaction, the chief operating officer now directly owns 492,545 shares of the company’s stock, valued at $14,288,730.45. This trade represents a 0.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Eli Berkovitch sold 5,924 shares of the business’s stock in a transaction on Friday, May 30th. The shares were sold at an average price of $37.70, for a total transaction of $223,334.80. Following the completion of the sale, the vice president now directly owns 138,770 shares of the company’s stock, valued at approximately $5,231,629. This trade represents a 4.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 86,800 shares of company stock valued at $2,925,612 in the last three months. 3.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On BOX

Hedge funds have recently made changes to their positions in the company. Beverly Hills Private Wealth LLC grew its holdings in shares of BOX by 3.2% during the first quarter. Beverly Hills Private Wealth LLC now owns 11,550 shares of the software maker’s stock worth $356,000 after buying an additional 362 shares during the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of BOX by 5.3% in the fourth quarter. Janney Montgomery Scott LLC now owns 7,807 shares of the software maker’s stock valued at $247,000 after purchasing an additional 391 shares during the period. Farther Finance Advisors LLC increased its holdings in shares of BOX by 19.3% in the fourth quarter. Farther Finance Advisors LLC now owns 2,579 shares of the software maker’s stock valued at $81,000 after purchasing an additional 417 shares during the period. Sanctuary Advisors LLC lifted its holdings in shares of BOX by 1.2% during the fourth quarter. Sanctuary Advisors LLC now owns 35,775 shares of the software maker’s stock worth $1,189,000 after purchasing an additional 423 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of BOX by 2.6% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 17,340 shares of the software maker’s stock worth $548,000 after purchasing an additional 442 shares during the period. Hedge funds and other institutional investors own 86.74% of the company’s stock.

BOX Stock Performance

Shares of NYSE BOX opened at $35.88 on Thursday. The firm has a fifty day moving average of $32.22 and a 200 day moving average of $32.39. The firm has a market cap of $5.16 billion, a PE ratio of 44.84, a PEG ratio of 4.42 and a beta of 0.94. BOX has a one year low of $24.63 and a one year high of $38.80.

BOX (NYSE:BOX) last released its quarterly earnings results on Tuesday, May 27th. The software maker reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.05. The firm had revenue of $276.27 million during the quarter, compared to the consensus estimate of $274.77 million. BOX had a net margin of 13.96% and a negative return on equity of 17.20%. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.39 EPS. On average, equities analysts predict that BOX will post 0.27 EPS for the current fiscal year.

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

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.