Box, Inc. (NYSE:BOX) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Box, Inc. (NYSE:BOX) have been given an average recommendation of “Moderate Buy” by the eleven analysts that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and eight have assigned a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $37.11.

BOX has been the topic of several research analyst reports. StockNews.com lowered BOX from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, January 8th. DA Davidson reaffirmed a “buy” rating and set a $45.00 price target on shares of BOX in a report on Wednesday, March 19th. Bank of America assumed coverage on shares of BOX in a report on Thursday, December 12th. They issued a “buy” rating and a $40.00 price objective on the stock. Raymond James reaffirmed an “outperform” rating and set a $38.00 target price (down previously from $40.00) on shares of BOX in a report on Wednesday, March 5th. Finally, JPMorgan Chase & Co. lowered their price target on shares of BOX from $38.00 to $37.00 and set an “overweight” rating on the stock in a report on Wednesday, March 5th.

BOX Price Performance

BOX stock opened at $29.82 on Friday. The company’s 50-day moving average is $32.63 and its 200-day moving average is $32.58. The firm has a market capitalization of $4.29 billion, a PE ratio of 37.28, a P/E/G ratio of 4.42 and a beta of 1.00. BOX has a fifty-two week low of $24.63 and a fifty-two week high of $35.74.

BOX declared that its board has approved 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 stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at BOX

In other news, CFO Dylan C. Smith sold 13,000 shares of the business’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. The trade was a 0.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Aaron Levie sold 10,000 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $32.08, for a total transaction of $320,800.00. Following the sale, the chief executive officer now owns 2,979,780 shares in the company, valued at $95,591,342.40. This represents a 0.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 73,705 shares of company stock valued at $2,375,998 in the last three months. Corporate insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On BOX

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC raised its holdings in shares of BOX by 5.3% during the 4th quarter. Janney Montgomery Scott LLC now owns 7,807 shares of the software maker’s stock worth $247,000 after buying an additional 391 shares in the last quarter. Farther Finance Advisors LLC raised its stake in BOX by 19.3% during the fourth quarter. Farther Finance Advisors LLC now owns 2,579 shares of the software maker’s stock worth $81,000 after acquiring an additional 417 shares in the last quarter. Sanctuary Advisors LLC lifted its holdings in shares of BOX by 1.2% in the fourth quarter. Sanctuary Advisors LLC now owns 35,775 shares of the software maker’s stock worth $1,189,000 after acquiring an additional 423 shares during the last quarter. Aspiriant LLC boosted its stake in shares of BOX by 5.0% in the 4th quarter. Aspiriant LLC now owns 9,048 shares of the software maker’s stock valued at $286,000 after purchasing an additional 427 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of BOX by 2.6% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 17,340 shares of the software maker’s stock valued at $548,000 after purchasing an additional 442 shares during the last quarter. 86.74% of the stock is currently owned by institutional investors.

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.