BOX’s (BOX) Underperform Rating Reiterated at Royal Bank of Canada

BOX (NYSE:BOX)‘s stock had its “underperform” rating restated by stock analysts at Royal Bank of Canada in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $21.00 price target on the software maker’s stock. Royal Bank of Canada’s target price points to a potential downside of 31.94% from the stock’s previous close.

BOX has been the subject of a number of other research reports. UBS Group upped their price objective on BOX from $34.00 to $42.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Bank of America initiated coverage on BOX in a research report on Thursday, December 12th. They set a “buy” rating and a $40.00 price objective for the company. Raymond James reissued an “outperform” rating and set a $38.00 price target (down from $40.00) on shares of BOX in a research report on Wednesday, March 5th. Citigroup increased their price target on BOX from $34.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Finally, DA Davidson initiated coverage on BOX in a research report on Wednesday, December 18th. They set a “buy” rating and a $45.00 price target for the company. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $36.60.

BOX Stock Down 0.0 %

NYSE BOX traded down $0.01 on Wednesday, reaching $30.86. The company had a trading volume of 94,272 shares, compared to its average volume of 1,735,889. The stock’s 50 day moving average is $32.77 and its 200-day moving average is $32.75. The stock has a market cap of $4.44 billion, a price-to-earnings ratio of 38.57, a PEG ratio of 4.42 and a beta of 1.00. BOX has a 52 week low of $24.63 and a 52 week high of $35.74.

BOX announced that its Board of Directors has initiated a share buyback program on Tuesday, March 4th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the software maker to reacquire up to 3.1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other BOX news, CFO Dylan C. Smith sold 13,000 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $31.95, for a total value of $415,350.00. Following the sale, the chief financial officer now owns 1,440,684 shares of the company’s stock, valued at approximately $46,029,853.80. This trade represents a 0.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Aaron Levie sold 10,000 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $32.08, for a total value of $320,800.00. Following the completion of the sale, the chief executive officer now directly owns 2,979,780 shares in the company, valued at approximately $95,591,342.40. This represents a 0.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 78,363 shares of company stock valued at $2,533,374 over the last 90 days. 4.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

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

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.