BOX (NYSE:BOX) Hits New 12-Month High – What’s Next?

Box, Inc. (NYSE:BOX)’s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $35.17 and last traded at $35.17, with a volume of 2383 shares changing hands. The stock had previously closed at $34.28.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on BOX shares. Morgan Stanley increased their target price on shares of BOX from $30.00 to $33.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 5th. Royal Bank of Canada reaffirmed an “underperform” rating and set a $21.00 price objective on shares of BOX in a report on Wednesday, August 28th. StockNews.com raised BOX from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 15th. Citigroup raised their price target on BOX from $32.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. Finally, UBS Group boosted their price objective on BOX from $31.00 to $34.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. One analyst has rated the stock with a sell rating, two have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $31.22.

BOX Trading Down 0.4 %

The company has a market cap of $5.09 billion, a P/E ratio of 44.95 and a beta of 0.85. The firm’s 50 day moving average price is $32.82 and its 200-day moving average price is $29.49.

BOX (NYSE:BOX) last released its earnings results on Tuesday, August 27th. The software maker reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.04. The firm had revenue of $270.04 million during the quarter, compared to analyst estimates of $269.52 million. BOX had a net margin of 13.94% and a negative return on equity of 14.41%. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.01 EPS. Analysts predict that Box, Inc. will post 0.23 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Jack R. Lazar sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $34.75, for a total transaction of $86,875.00. Following the completion of the transaction, the director now owns 26,697 shares in the company, valued at approximately $927,720.75. The trade was a 8.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Dylan C. Smith sold 13,000 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $34.21, for a total transaction of $444,730.00. Following the completion of the sale, the chief financial officer now owns 1,461,509 shares in the company, valued at approximately $49,998,222.89. This trade represents a 0.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 58,500 shares of company stock valued at $1,939,895 over the last three months. Company insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On BOX

Hedge funds have recently modified their holdings of the business. Assenagon Asset Management S.A. grew its position in shares of BOX by 143.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 254,975 shares of the software maker’s stock valued at $6,742,000 after purchasing an additional 150,309 shares during the period. Teachers Retirement System of The State of Kentucky bought a new position in BOX in the first quarter valued at approximately $1,096,000. Comerica Bank boosted its holdings in shares of BOX by 964.7% in the first quarter. Comerica Bank now owns 85,081 shares of the software maker’s stock valued at $2,409,000 after buying an additional 77,090 shares during the period. Bank of Montreal Can increased its position in shares of BOX by 16.0% during the second quarter. Bank of Montreal Can now owns 351,850 shares of the software maker’s stock worth $9,514,000 after acquiring an additional 48,633 shares in the last quarter. Finally, Versor Investments LP acquired a new stake in shares of BOX during the third quarter worth $1,221,000. Institutional investors and hedge funds own 86.74% of the company’s stock.

BOX Company Profile

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.