Box, Inc. (NYSE:BOX) Receives $35.89 Consensus PT from Brokerages

Shares of Box, Inc. (NYSE:BOX) have been assigned an average rating of “Moderate Buy” from the twelve analysts that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and nine have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $36.60.

A number of equities research analysts recently weighed in on the stock. StockNews.com downgraded shares of BOX from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, January 8th. William Blair restated an “outperform” rating on shares of BOX in a research report on Thursday, November 14th. DA Davidson initiated coverage on shares of BOX in a research report on Wednesday, December 18th. They issued a “buy” rating and a $45.00 target price for the company. JPMorgan Chase & Co. lowered their price target on BOX from $38.00 to $37.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 5th. Finally, Morgan Stanley upped their price objective on BOX from $33.00 to $36.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 4th.

Insider Activity

In other BOX news, CFO Dylan C. Smith sold 13,000 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $31.05, for a total transaction of $403,650.00. Following the completion of the transaction, the chief financial officer now owns 1,466,684 shares of the company’s stock, valued at $45,540,538.20. This represents a 0.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Daniel J. Levin sold 5,886 shares of BOX stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $32.50, for a total value of $191,295.00. Following the completion of the sale, the director now owns 51,530 shares in the company, valued at approximately $1,674,725. This represents a 10.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,041 shares of company stock valued at $2,144,068. Insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Mackenzie Financial Corp increased its position in shares of BOX by 28.2% during the fourth quarter. Mackenzie Financial Corp now owns 341,606 shares of the software maker’s stock valued at $10,795,000 after buying an additional 75,041 shares during the period. Vise Technologies Inc. grew its holdings in shares of BOX by 38.5% during the 4th quarter. Vise Technologies Inc. now owns 8,540 shares of the software maker’s stock worth $270,000 after acquiring an additional 2,372 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of BOX by 20.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 445,096 shares of the software maker’s stock worth $14,065,000 after acquiring an additional 75,098 shares in the last quarter. Woodline Partners LP raised its position in shares of BOX by 63.3% in the 4th quarter. Woodline Partners LP now owns 15,294 shares of the software maker’s stock worth $483,000 after acquiring an additional 5,930 shares in the last quarter. Finally, Vident Advisory LLC lifted its stake in shares of BOX by 15.3% in the 4th quarter. Vident Advisory LLC now owns 116,662 shares of the software maker’s stock valued at $3,687,000 after purchasing an additional 15,475 shares during the period. 86.74% of the stock is currently owned by institutional investors.

BOX Stock Down 0.4 %

NYSE:BOX opened at $32.13 on Tuesday. The stock has a market cap of $4.62 billion, a P/E ratio of 40.16, a PEG ratio of 4.42 and a beta of 1.00. The business’s 50-day moving average price is $32.83 and its two-hundred day moving average price is $32.73. BOX has a twelve month low of $24.63 and a twelve month high of $35.74.

BOX announced that its Board of Directors has authorized a stock buyback plan on Tuesday, March 4th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the software maker to buy up to 3.1% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership 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.