BOX’s (BOX) Outperform Rating Reiterated at William Blair

William Blair reaffirmed their outperform rating on shares of BOX (NYSE:BOX) in a research report sent to investors on Thursday,RTT News reports.

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

BOX Price Performance

BOX opened at $33.53 on Thursday. The business has a 50 day simple moving average of $32.71 and a 200-day simple moving average of $29.15. BOX has a 12 month low of $23.29 and a 12 month high of $35.07. The stock has a market capitalization of $4.80 billion, a P/E ratio of 42.44 and a beta of 0.85.

BOX (NYSE:BOX) last issued its earnings results on Tuesday, August 27th. The software maker reported $0.44 EPS for the quarter, topping the consensus estimate of $0.40 by $0.04. The company had revenue of $270.04 million for the quarter, compared to analyst estimates of $269.52 million. BOX had a net margin of 13.94% and a negative return on equity of 14.41%. The business’s revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.01 EPS. Research analysts anticipate that BOX will post 0.23 EPS for the current year.

Insider Buying and Selling at BOX

In other BOX news, CEO Aaron Levie sold 10,000 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $32.92, for a total transaction of $329,200.00. Following the transaction, the chief executive officer now owns 3,009,155 shares of the company’s stock, valued at $99,061,382.60. This trade represents a 0.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jack R. Lazar sold 7,000 shares of the business’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $32.68, for a total transaction of $228,760.00. Following the sale, the director now directly owns 29,197 shares of the company’s stock, valued at $954,157.96. This represents a 19.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders 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

A number of institutional investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. lifted its stake in shares of BOX by 7.5% in the 1st quarter. Russell Investments Group Ltd. now owns 529,342 shares of the software maker’s stock valued at $14,994,000 after purchasing an additional 37,009 shares in the last quarter. US Bancorp DE increased its position in shares of BOX by 59.8% in the first quarter. US Bancorp DE now owns 44,729 shares of the software maker’s stock worth $1,267,000 after acquiring an additional 16,737 shares in the last quarter. ProShare Advisors LLC raised its stake in shares of BOX by 21.3% in the 1st quarter. ProShare Advisors LLC now owns 29,735 shares of the software maker’s stock valued at $842,000 after acquiring an additional 5,224 shares during the period. State Board of Administration of Florida Retirement System lifted its holdings in shares of BOX by 7.1% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 43,110 shares of the software maker’s stock valued at $1,155,000 after acquiring an additional 2,850 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in BOX by 14.9% during the 1st quarter. Vanguard Group Inc. now owns 17,313,882 shares of the software maker’s stock worth $490,329,000 after purchasing an additional 2,249,082 shares during the period. Hedge funds and other 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.