BOX (NYSE:BOX) Price Target Lowered to $40.00 at DA Davidson

BOX (NYSE:BOX) had its target price reduced by DA Davidson from $45.00 to $40.00 in a research report sent to investors on Monday morning,Benzinga reports. DA Davidson currently has a buy rating on the software maker’s stock.

A number of other brokerages have also commented on BOX. Raymond James reiterated an “outperform” rating and set a $38.00 price target (down from $40.00) on shares of BOX in a report on Wednesday, March 5th. Royal Bank of Canada reissued an “underperform” rating and issued a $21.00 price target on shares of BOX in a report on Wednesday, March 19th. JPMorgan Chase & Co. dropped their price objective on shares of BOX from $38.00 to $37.00 and set an “overweight” rating on the stock in a report on Wednesday, March 5th. Finally, StockNews.com lowered shares of BOX from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $36.56.

BOX Stock Performance

Shares of NYSE:BOX opened at $30.13 on Monday. BOX has a 52-week low of $24.63 and a 52-week high of $35.74. The company has a market cap of $4.33 billion, a P/E ratio of 37.66, a P/E/G ratio of 4.42 and a beta of 0.96. The stock’s 50-day moving average is $32.02 and its 200-day moving average is $32.40.

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

Insider Transactions at BOX

In other news, VP Eli Berkovitch sold 5,651 shares of the business’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $30.66, for a total value of $173,259.66. Following the sale, the vice president now owns 124,672 shares in the company, valued at approximately $3,822,443.52. The trade was a 4.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Olivia Nottebohm sold 1,332 shares of the stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $29.01, for a total transaction of $38,641.32. Following the sale, the chief operating officer now 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 72,996 shares of company stock valued at $2,329,886. Corporate insiders own 4.10% of the company’s stock.

Institutional Trading of BOX

Several large investors have recently added to or reduced their stakes in BOX. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of BOX by 332.5% in the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 865 shares of the software maker’s stock worth $27,000 after acquiring an additional 665 shares in the last quarter. Versant Capital Management Inc boosted its stake in BOX by 519.4% in the first quarter. Versant Capital Management Inc now owns 1,951 shares of the software maker’s stock worth $60,000 after purchasing an additional 1,636 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in BOX by 715.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,162 shares of the software maker’s stock worth $69,000 after purchasing an additional 1,897 shares in the last quarter. TD Waterhouse Canada Inc. grew its holdings in shares of BOX by 42.4% during the fourth quarter. TD Waterhouse Canada Inc. now owns 2,194 shares of the software maker’s stock worth $69,000 after purchasing an additional 653 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its stake 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 buying an additional 417 shares in the last quarter. 86.74% of the stock is owned by institutional investors.

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.