StockNews.com Upgrades BOX (NYSE:BOX) to Strong-Buy

BOX (NYSE:BOX – Get Rating) was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued on Saturday.

A number of other research analysts also recently weighed in on the company. Morgan Stanley reduced their target price on BOX from $39.00 to $37.00 and set an “overweight” rating on the stock in a report on Thursday, March 2nd. Royal Bank of Canada downgraded BOX from a “sector perform” rating to an “underperform” rating and reduced their target price for the stock from $28.00 to $24.00 in a report on Tuesday, January 10th. JMP Securities reiterated a “market perform” rating and set a $32.00 target price on shares of BOX in a report on Thursday, March 2nd. KeyCorp upped their target price on BOX from $34.00 to $37.00 and gave the stock an “overweight” rating in a report on Wednesday, January 18th. Finally, Oppenheimer reissued an “outperform” rating and issued a $35.00 price target on shares of BOX in a research report on Monday, December 5th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $34.50.

BOX Stock Performance

BOX stock opened at $25.78 on Friday. BOX has a fifty-two week low of $22.31 and a fifty-two week high of $34.98. The business’s 50 day moving average price is $31.53 and its two-hundred day moving average price is $29.12. The company has a market capitalization of $3.68 billion, a price-to-earnings ratio of 515.60, a price-to-earnings-growth ratio of 12.48 and a beta of 1.07.

Insider Transactions at BOX

In other news, Director Daniel J. Levin sold 76,494 shares of the company’s stock in a transaction on Wednesday, December 14th. The stock was sold at an average price of $31.56, for a total value of $2,414,150.64. Following the completion of the sale, the director now directly owns 56,341 shares in the company, valued at approximately $1,778,121.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other BOX news, CFO Dylan C. Smith sold 13,000 shares of the stock in a transaction on Monday, December 12th. The stock was sold at an average price of $29.39, for a total value of $382,070.00. Following the completion of the sale, the chief financial officer now owns 1,316,082 shares in the company, valued at approximately $38,679,649.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Daniel J. Levin sold 76,494 shares of the stock in a transaction on Wednesday, December 14th. The stock was sold at an average price of $31.56, for a total value of $2,414,150.64. Following the completion of the sale, the director now owns 56,341 shares of the company’s stock, valued at approximately $1,778,121.96. The disclosure for this sale can be found here. Insiders sold 140,190 shares of company stock worth $4,357,237 in the last three months. Corporate insiders own 5.20% of the company’s stock.

Institutional Investors Weigh In On BOX

A number of institutional investors have recently bought and sold shares of BOX. Ardevora Asset Management LLP purchased a new stake in BOX in the 4th quarter worth $40,887,000. Millennium Management LLC grew its position in shares of BOX by 249.4% during the fourth quarter. Millennium Management LLC now owns 1,019,044 shares of the software maker’s stock valued at $31,723,000 after purchasing an additional 727,428 shares in the last quarter. Federated Hermes Inc. grew its position in shares of BOX by 213.1% during the first quarter. Federated Hermes Inc. now owns 968,632 shares of the software maker’s stock valued at $28,148,000 after purchasing an additional 659,231 shares in the last quarter. Macquarie Group Ltd. grew its position in shares of BOX by 28.9% during the second quarter. Macquarie Group Ltd. now owns 2,890,365 shares of the software maker’s stock valued at $72,664,000 after purchasing an additional 648,830 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of BOX during the fourth quarter valued at about $19,374,000. Hedge funds and other institutional investors own 85.67% of the company’s stock.

About BOX

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Box, Inc engages in the provision of 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, box keysafe and automations.