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

BOX (NYSE:BOX)‘s stock had its “buy” rating reissued by DA Davidson in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $45.00 target price on the software maker’s stock. DA Davidson’s price objective indicates a potential upside of 46.27% from the company’s current price.

BOX has been the subject of several other research reports. Citigroup lifted their price objective on shares of BOX from $34.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Morgan Stanley boosted their target price on shares of BOX from $33.00 to $36.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 4th. Bank of America initiated coverage on shares of BOX in a research report on Thursday, December 12th. They issued a “buy” rating and a $40.00 target price for the company. StockNews.com cut shares of BOX from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, January 8th. Finally, Raymond James restated an “outperform” rating and issued a $38.00 target price (down from $40.00) on shares of BOX in a research report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $36.60.

BOX Price Performance

BOX stock traded down $0.10 during midday trading on Wednesday, hitting $30.77. The company’s stock had a trading volume of 134,087 shares, compared to its average volume of 1,736,078. BOX has a 1-year low of $24.63 and a 1-year high of $35.74. The company has a 50-day moving average price of $32.77 and a two-hundred day moving average price of $32.75. The company has a market cap of $4.42 billion, a price-to-earnings ratio of 38.46, a PEG ratio of 4.42 and a beta of 1.00.

BOX declared that its Board of Directors has initiated a stock buyback plan on Tuesday, March 4th that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the software maker to purchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling at BOX

In other BOX news, CFO Dylan C. Smith sold 13,000 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $31.05, for a total value of $403,650.00. Following the completion of the transaction, the chief financial officer now directly owns 1,466,684 shares in the company, valued at approximately $45,540,538.20. This represents a 0.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Olivia Nottebohm sold 12,414 shares of the company’s stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $31.85, for a total transaction of $395,385.90. Following the completion of the transaction, the chief operating officer now owns 453,146 shares of the company’s stock, valued at approximately $14,432,700.10. This trade represents a 2.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 78,363 shares of company stock worth $2,533,374. 4.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On BOX

Large investors have recently modified their holdings of the company. Charles Schwab Investment Management Inc. increased its position in shares of BOX by 10.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,371,815 shares of the software maker’s stock worth $44,900,000 after buying an additional 134,175 shares during the period. Beacon Harbor Wealth Advisors Inc. acquired a new stake in shares of BOX during the fourth quarter worth $5,997,000. Townsquare Capital LLC acquired a new stake in shares of BOX during the third quarter worth $2,021,000. Robeco Institutional Asset Management B.V. acquired a new stake in shares of BOX during the fourth quarter worth $981,000. Finally, Petrus Trust Company LTA acquired a new stake in shares of BOX during the third quarter worth $615,000. 86.74% of the stock is currently owned by institutional investors and hedge funds.

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.