BOX (NYSE:BOX) Receives Buy Rating from DA Davidson

BOX (NYSE:BOX)‘s stock had its “buy” rating reiterated by equities researchers at DA Davidson in a report released on Wednesday,Benzinga reports. They currently have a $45.00 price target on the software maker’s stock. DA Davidson’s target price suggests a potential upside of 46.27% from the company’s current price.

BOX has been the topic of several other reports. Raymond James reiterated an “outperform” rating and issued a $38.00 target price (down from $40.00) on shares of BOX in a report on Wednesday, March 5th. StockNews.com lowered shares of BOX from a “strong-buy” rating to a “buy” rating in a report on Wednesday, January 8th. Morgan Stanley raised their price objective on shares of BOX from $33.00 to $36.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 4th. Citigroup raised their price objective on shares of BOX from $34.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, Royal Bank of Canada restated an “underperform” rating and set a $21.00 price objective on shares of BOX in a report on Wednesday. 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 MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $36.60.

BOX Price Performance

BOX traded down $0.10 during mid-day trading on Wednesday, hitting $30.77. The stock had a trading volume of 134,087 shares, compared to its average volume of 1,736,078. The stock’s fifty day simple moving average is $32.77 and its 200-day simple moving average is $32.75. The firm has a market capitalization of $4.42 billion, a price-to-earnings ratio of 38.46, a price-to-earnings-growth ratio of 4.42 and a beta of 1.00. BOX has a 1-year low of $24.63 and a 1-year high of $35.74.

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

Insider Activity at BOX

In related news, COO Olivia Nottebohm sold 6,079 shares of the firm’s stock in a transaction on Monday, February 10th. The shares were 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 approximately $15,178,806.96. This trade represents a 1.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Eli Berkovitch sold 4,791 shares of the firm’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $31.06, for a total transaction of $148,808.46. Following the completion of the transaction, the vice president now directly owns 132,741 shares of the company’s stock, valued at approximately $4,122,935.46. This trade represents a 3.48 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 78,363 shares of company stock valued at $2,533,374. Corporate insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Itau Unibanco Holding S.A. bought a new position in shares of BOX in the 3rd quarter valued at about $36,000. Smartleaf Asset Management LLC grew its position in shares of BOX by 715.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,162 shares of the software maker’s stock valued at $69,000 after acquiring an additional 1,897 shares during the period. TD Waterhouse Canada Inc. grew its position in shares of BOX by 42.4% in the 4th quarter. TD Waterhouse Canada Inc. now owns 2,194 shares of the software maker’s stock valued at $69,000 after acquiring an additional 653 shares during the period. Farther Finance Advisors LLC grew its position in shares of BOX by 19.3% in the 4th quarter. Farther Finance Advisors LLC now owns 2,579 shares of the software maker’s stock valued at $81,000 after acquiring an additional 417 shares during the period. Finally, SBI Securities Co. Ltd. bought a new position in shares of BOX in the 4th quarter valued at about $132,000. Institutional investors own 86.74% of the company’s stock.

About BOX

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.