BOX (NYSE:BOX) Earns Underperform Rating from Royal Bank of Canada

BOX (NYSE:BOX)‘s stock had its “underperform” rating reaffirmed by Royal Bank of Canada in a research report issued on Wednesday,Benzinga reports. They presently have a $21.00 price objective on the software maker’s stock. Royal Bank of Canada’s price objective would suggest a potential downside of 30.56% from the stock’s current price.

Other equities analysts have also issued reports about the company. Raymond James reissued an “outperform” rating and set a $38.00 price target (down from $40.00) on shares of BOX in a research note on Wednesday, March 5th. DA Davidson began coverage on BOX in a research note on Wednesday, December 18th. They set a “buy” rating and a $45.00 price target for the company. UBS Group increased their price target on BOX from $34.00 to $42.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. StockNews.com lowered BOX from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, January 8th. Finally, Citigroup increased their price target on BOX from $34.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $37.11.

BOX Trading Down 1.9 %

Shares of BOX stock opened at $30.24 on Wednesday. The stock has a 50 day moving average of $32.74 and a 200 day moving average of $32.72. BOX has a 12 month low of $24.63 and a 12 month high of $35.74. The firm has a market cap of $4.35 billion, a PE ratio of 37.81, a PEG ratio of 4.42 and a beta of 1.00.

BOX announced that its board has initiated a stock repurchase plan on Tuesday, March 4th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the software maker to purchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In related news, CEO Aaron Levie sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $32.08, for a total transaction of $320,800.00. Following the completion of the sale, the chief executive officer now directly owns 2,979,780 shares of the company’s stock, valued at approximately $95,591,342.40. This trade represents a 0.33 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Dylan C. Smith sold 13,000 shares of the firm’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 value of $403,650.00. Following the sale, the chief financial officer now directly owns 1,466,684 shares of the company’s stock, valued at $45,540,538.20. This represents a 0.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 78,363 shares of company stock valued at $2,533,374 in the last ninety days. Insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On BOX

A number of institutional investors and hedge funds have recently modified their holdings of BOX. Natixis Advisors LLC lifted its stake in shares of BOX by 20.5% during the 3rd quarter. Natixis Advisors LLC now owns 382,530 shares of the software maker’s stock worth $12,520,000 after acquiring an additional 65,185 shares during the last quarter. Quest Partners LLC lifted its stake in shares of BOX by 1,012.4% during the 3rd quarter. Quest Partners LLC now owns 40,003 shares of the software maker’s stock worth $1,309,000 after acquiring an additional 36,407 shares during the last quarter. Pathstone Holdings LLC lifted its stake in shares of BOX by 7.3% during the 3rd quarter. Pathstone Holdings LLC now owns 51,813 shares of the software maker’s stock worth $1,696,000 after acquiring an additional 3,532 shares during the last quarter. Intech Investment Management LLC purchased a new position in BOX during the 3rd quarter worth $1,190,000. Finally, Integrated Investment Consultants LLC increased its holdings in BOX by 8.9% during the 3rd quarter. Integrated Investment Consultants LLC now owns 15,542 shares of the software maker’s stock worth $509,000 after purchasing an additional 1,268 shares during the period. 86.74% of the stock is owned by institutional investors.

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.