BOX (NYSE:BOX) Stock Rating Lowered by StockNews.com

BOX (NYSE:BOX) was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a note issued to investors on Wednesday.

A number of other brokerages have also recently commented on BOX. Citigroup raised 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 assumed coverage on shares of BOX in a research report on Thursday, December 12th. They issued a “buy” rating and a $40.00 price target for the company. Morgan Stanley upped their price objective on shares of BOX from $33.00 to $36.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 4th. DA Davidson began coverage on shares of BOX in a report on Wednesday, December 18th. They set a “buy” rating and a $45.00 price objective for the company. Finally, William Blair restated an “outperform” rating on shares of BOX in a report on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $35.89.

BOX Price Performance

Shares of BOX traded up $0.14 during trading hours on Wednesday, hitting $31.29. The stock had a trading volume of 2,257,338 shares, compared to its average volume of 1,427,108. BOX has a 1-year low of $24.56 and a 1-year high of $35.74. The firm has a market capitalization of $4.50 billion, a P/E ratio of 39.11 and a beta of 0.89. The firm has a 50 day simple moving average of $32.93 and a 200-day simple moving average of $30.84.

Insiders Place Their Bets

In other news, Director Jack R. Lazar sold 2,500 shares of BOX stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $34.75, for a total transaction of $86,875.00. Following the sale, the director now directly owns 26,697 shares in the company, valued at $927,720.75. The trade was a 8.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Dylan C. Smith sold 13,000 shares of the business’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $32.52, for a total transaction of $422,760.00. Following the completion of the transaction, the chief financial officer now directly owns 1,474,509 shares in the company, valued at $47,951,032.68. This trade represents a 0.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 74,592 shares of company stock valued at $2,442,284 in the last 90 days. 4.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On BOX

A number of hedge funds have recently modified their holdings of BOX. Itau Unibanco Holding S.A. bought a new position in BOX during the third quarter valued at $36,000. Quarry LP grew its stake in shares of BOX by 324.6% during the 2nd quarter. Quarry LP now owns 1,418 shares of the software maker’s stock worth $37,000 after acquiring an additional 1,084 shares during the period. GAMMA Investing LLC increased its holdings in BOX by 143.1% in the 3rd quarter. GAMMA Investing LLC now owns 1,337 shares of the software maker’s stock worth $44,000 after acquiring an additional 787 shares during the last quarter. Toronto Dominion Bank bought a new stake in BOX in the 2nd quarter valued at about $53,000. Finally, Farther Finance Advisors LLC raised its stake in BOX by 245.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,162 shares of the software maker’s stock valued at $71,000 after acquiring an additional 1,536 shares during the period. Institutional investors own 86.74% of the company’s stock.

About BOX

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.