StockNews.com Downgrades BOX (NYSE:BOX) to Buy

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

BOX has been the topic of several other reports. Morgan Stanley lifted their price objective on BOX from $33.00 to $36.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 4th. UBS Group lifted their price target on shares of BOX from $34.00 to $42.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. DA Davidson started coverage on shares of BOX in a research report on Wednesday, December 18th. They issued a “buy” rating and a $45.00 price objective for the company. Royal Bank of Canada restated an “underperform” rating and set a $21.00 target price on shares of BOX in a report on Wednesday, December 4th. Finally, Bank of America initiated coverage on shares of BOX in a research report on Thursday, December 12th. They set a “buy” rating and a $40.00 price target for the company. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $35.89.

BOX Trading Up 0.4 %

Shares of BOX stock opened at $31.29 on Wednesday. The business’s fifty day moving average price is $32.92 and its 200 day moving average price is $30.84. BOX has a twelve month low of $24.56 and a twelve month high of $35.74. The stock has a market capitalization of $4.50 billion, a P/E ratio of 39.11 and a beta of 0.89.

Insider Buying and Selling at BOX

In other BOX news, Director Jack R. Lazar sold 2,500 shares of the stock in a transaction on Tuesday, November 12th. The shares were 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. This represents a 8.56 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Eli Berkovitch sold 4,792 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $32.46, for a total transaction of $155,548.32. Following the transaction, the vice president now directly owns 140,172 shares of the company’s stock, valued at approximately $4,549,983.12. This represents a 3.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 61,592 shares of company stock valued at $2,019,524 in the last ninety days. Insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On BOX

Several large investors have recently modified their holdings of BOX. Central Pacific Bank Trust Division increased its holdings in BOX by 9.6% in the fourth quarter. Central Pacific Bank Trust Division now owns 6,070 shares of the software maker’s stock valued at $192,000 after buying an additional 530 shares during the last quarter. Glenmede Trust Co. NA increased its holdings in shares of BOX by 1.6% in the 3rd quarter. Glenmede Trust Co. NA now owns 34,107 shares of the software maker’s stock valued at $1,116,000 after acquiring an additional 535 shares during the last quarter. Creative Planning raised its position in shares of BOX by 4.2% during the 3rd quarter. Creative Planning now owns 15,743 shares of the software maker’s stock valued at $515,000 after acquiring an additional 631 shares in the last quarter. GAMMA Investing LLC lifted its stake in BOX by 143.1% during the third quarter. GAMMA Investing LLC now owns 1,337 shares of the software maker’s stock worth $44,000 after purchasing an additional 787 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D boosted its holdings in BOX by 1.2% in the third quarter. State of New Jersey Common Pension Fund D now owns 69,211 shares of the software maker’s stock worth $2,265,000 after purchasing an additional 834 shares during the period. Institutional investors own 86.74% of the company’s stock.

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.