BOX’s (BOX) “Outperform” Rating Reaffirmed at Raymond James

BOX (NYSE:BOX)‘s stock had its “outperform” rating restated by analysts at Raymond James in a report released on Wednesday,Benzinga reports. They presently have a $38.00 target price on the software maker’s stock, down from their prior target price of $40.00. Raymond James’ price target points to a potential upside of 18.55% from the stock’s previous close.

Several other analysts have also recently issued reports on BOX. Royal Bank of Canada reissued an “underperform” rating and issued a $21.00 target price on shares of BOX in a research note on Wednesday, December 4th. Bank of America assumed coverage on BOX in a research report on Thursday, December 12th. They issued a “buy” rating and a $40.00 price objective on the stock. DA Davidson began coverage on BOX in a report on Wednesday, December 18th. They set a “buy” rating and a $45.00 target price for the company. 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 report on Wednesday, December 4th. Finally, StockNews.com lowered shares of BOX from a “strong-buy” rating to a “buy” rating in a report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, BOX presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.60.

BOX Price Performance

BOX stock traded down $1.42 during trading hours on Wednesday, reaching $32.06. The company had a trading volume of 2,192,507 shares, compared to its average volume of 1,936,143. BOX has a 12-month low of $24.63 and a 12-month high of $35.74. The company has a 50-day moving average price of $32.81 and a 200 day moving average price of $32.62. The firm has a market cap of $4.61 billion, a price-to-earnings ratio of 40.03, a P/E/G ratio of 4.42 and a beta of 0.88.

BOX declared that its Board of Directors has authorized a share buyback plan on Tuesday, March 4th that allows the company to buyback $150.00 million in shares. This buyback authorization allows the software maker to buy up to 3.1% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Insider Activity

In other news, COO Olivia Nottebohm sold 6,079 shares of BOX stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $34.42, for a total value of $209,239.18. Following the completion of the transaction, the chief operating officer now owns 440,988 shares of the company’s stock, valued at $15,178,806.96. The trade was a 1.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Aaron Levie sold 10,000 shares of the stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $32.54, for a total transaction of $325,400.00. Following the sale, the chief executive officer now directly owns 2,999,155 shares in the company, valued at $97,592,503.70. This trade represents a 0.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 89,041 shares of company stock worth $2,889,758. Insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On BOX

A number of hedge funds have recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC boosted its stake in BOX by 5.3% during the 4th quarter. Janney Montgomery Scott LLC now owns 7,807 shares of the software maker’s stock valued at $247,000 after purchasing an additional 391 shares during the last quarter. Farther Finance Advisors LLC boosted its position in shares of BOX by 19.3% during 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 during the last quarter. Sanctuary Advisors LLC boosted its position in shares of BOX by 1.2% during the fourth quarter. Sanctuary Advisors LLC now owns 35,775 shares of the software maker’s stock valued at $1,189,000 after buying an additional 423 shares during the last quarter. Aspiriant LLC increased its holdings in BOX by 5.0% in the 4th quarter. Aspiriant LLC now owns 9,048 shares of the software maker’s stock worth $286,000 after buying an additional 427 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its position in BOX by 2.6% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 17,340 shares of the software maker’s stock worth $548,000 after buying an additional 442 shares during the last quarter. 86.74% of the stock is currently owned by hedge funds and other institutional investors.

BOX Company Profile

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.