Bank of America Begins Coverage on BOX (NYSE:BOX)

Equities researchers at Bank of America initiated coverage on shares of BOX (NYSE:BOX) in a note issued to investors on Thursday, MarketBeat.com reports. The brokerage set a “buy” rating and a $40.00 price target on the software maker’s stock. Bank of America‘s price target points to a potential upside of 23.15% from the stock’s current price.

Other analysts also recently issued research reports about the company. William Blair reaffirmed an “outperform” rating on shares of BOX in a research note on Thursday, November 14th. Morgan Stanley upped their price target on shares of BOX from $33.00 to $36.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 4th. Citigroup lifted their price objective on shares of BOX from $34.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Monness Crespi & Hardt upgraded shares of BOX to a “hold” rating in a research report on Friday, August 16th. Finally, Royal Bank of Canada reiterated an “underperform” rating and issued a $21.00 price target on shares of BOX in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, BOX has a consensus rating of “Moderate Buy” and a consensus price target of $34.75.

BOX Stock Down 1.6 %

Shares of BOX stock opened at $32.48 on Thursday. The firm has a market cap of $4.65 billion, a price-to-earnings ratio of 40.60 and a beta of 0.86. BOX has a twelve month low of $24.28 and a twelve month high of $35.74. The business has a 50-day moving average price of $33.10 and a 200-day moving average price of $30.14.

Insider Buying and Selling

In other BOX news, 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 value of $444,730.00. Following the sale, the chief financial officer now owns 1,461,509 shares in the company, valued at $49,998,222.89. This trade represents a 0.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Daniel J. Levin sold 5,886 shares of BOX stock in a transaction 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 sale, the director now owns 51,530 shares of the company’s stock, valued at approximately $1,674,725. This trade represents a 10.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 57,386 shares of company stock valued at $1,891,350 in the last ninety days. 4.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On BOX

A number of hedge funds have recently added to or reduced their stakes in BOX. Itau Unibanco Holding S.A. bought a new stake in shares of BOX during the third quarter valued at approximately $36,000. Quarry LP raised its position in BOX by 324.6% during the 2nd quarter. Quarry LP now owns 1,418 shares of the software maker’s stock valued at $37,000 after purchasing an additional 1,084 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of 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 buying an additional 787 shares during the period. Toronto Dominion Bank bought a new position in shares of BOX during the 2nd quarter worth $53,000. Finally, Nisa Investment Advisors LLC increased its stake in shares of BOX by 31.7% during the second quarter. Nisa Investment Advisors LLC now owns 2,627 shares of the software maker’s stock valued at $69,000 after buying an additional 632 shares during the period. 86.74% of the stock is currently owned by institutional investors.

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.