BOX (NYSE:BOX) Sets New 52-Week High – Time to Buy?

Box, Inc. (NYSE:BOX)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as $35.17 and last traded at $35.17, with a volume of 2383 shares changing hands. The stock had previously closed at $34.28.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on BOX shares. StockNews.com upgraded BOX from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 15th. Morgan Stanley lifted their price target on BOX from $30.00 to $33.00 and gave the company an “equal weight” rating in a report on Thursday, September 5th. UBS Group increased their price objective on BOX from $31.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Royal Bank of Canada reiterated an “underperform” rating and issued a $21.00 target price on shares of BOX in a research note on Wednesday, August 28th. Finally, Citigroup raised their price target on shares of BOX from $32.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $31.22.

BOX Price Performance

The company has a market capitalization of $5.09 billion, a P/E ratio of 44.95 and a beta of 0.85. The stock’s fifty day simple moving average is $32.82 and its 200-day simple moving average is $29.49.

BOX (NYSE:BOX) last released its earnings results on Tuesday, August 27th. The software maker reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.04. BOX had a negative return on equity of 14.41% and a net margin of 13.94%. The firm had revenue of $270.04 million for the quarter, compared to analyst estimates of $269.52 million. During the same quarter last year, the firm posted $0.01 EPS. The company’s revenue was up 3.3% on a year-over-year basis. On average, research analysts predict that Box, Inc. will post 0.23 earnings per share for the current year.

Insider Transactions at BOX

In related news, Director Jack R. Lazar sold 2,500 shares of the business’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $34.75, for a total transaction of $86,875.00. Following the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Aaron Levie sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $32.92, for a total value of $329,200.00. Following the completion of the sale, the chief executive officer now owns 3,009,155 shares of the company’s stock, valued at $99,061,382.60. This represents a 0.33 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 58,500 shares of company stock worth $1,939,895. Insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On BOX

Institutional investors have recently bought and sold shares of the business. Sanctuary Advisors LLC lifted its holdings in shares of BOX by 24.5% during the 3rd quarter. Sanctuary Advisors LLC now owns 35,352 shares of the software maker’s stock worth $1,212,000 after acquiring an additional 6,965 shares during the period. Coldstream Capital Management Inc. raised its position in BOX by 13.1% in the third quarter. Coldstream Capital Management Inc. now owns 14,546 shares of the software maker’s stock worth $476,000 after purchasing an additional 1,690 shares in the last quarter. Geode Capital Management LLC lifted its stake in BOX by 0.4% during the third quarter. Geode Capital Management LLC now owns 3,249,823 shares of the software maker’s stock worth $106,387,000 after purchasing an additional 13,028 shares during the period. MML Investors Services LLC acquired a new stake in BOX during the third quarter valued at approximately $266,000. Finally, XTX Topco Ltd grew its stake in shares of BOX by 17.8% in the 3rd quarter. XTX Topco Ltd now owns 38,002 shares of the software maker’s stock valued at $1,244,000 after purchasing an additional 5,736 shares during the period. Institutional investors and hedge funds 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.