BOX (NYSE:BOX) Price Target Cut to $21.00

BOX (NYSE:BOX – Get Rating) had its price objective cut by equities research analysts at Royal Bank of Canada from $24.00 to $21.00 in a research note issued on Wednesday, The Fly reports. The firm currently has an “underperform” rating on the software maker’s stock. Royal Bank of Canada’s price objective would indicate a potential downside of 17.74% from the stock’s previous close.

Several other brokerages have also commented on BOX. KeyCorp raised their price target on BOX from $34.00 to $37.00 and gave the company an “overweight” rating in a research note on Wednesday, January 18th. Oppenheimer reissued an “outperform” rating and issued a $35.00 price target on shares of BOX in a report on Monday, December 5th. Morgan Stanley dropped their price objective on shares of BOX from $39.00 to $37.00 and set an “overweight” rating on the stock in a report on Thursday, March 2nd. JMP Securities reiterated a “market perform” rating and issued a $32.00 price target on shares of BOX in a report on Thursday, March 2nd. Finally, JPMorgan Chase & Co. raised BOX from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $31.00 to $34.00 in a report on Monday, December 12th. One analyst has rated the stock with a sell rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, BOX presently has an average rating of “Moderate Buy” and an average target price of $34.20.

BOX Trading Down 2.4 %

BOX stock opened at $25.53 on Wednesday. The stock has a market cap of $3.65 billion, a PE ratio of 510.60, a P/E/G ratio of 11.76 and a beta of 1.07. The company has a 50-day moving average price of $31.09 and a 200 day moving average price of $29.04. BOX has a 12 month low of $22.31 and a 12 month high of $34.98.

Insider Buying and Selling at BOX

In related news, Director Dana L. Evan sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, December 21st. The shares were sold at an average price of $31.32, for a total transaction of $156,600.00. Following the completion of the sale, the director now directly owns 130,179 shares in the company, valued at $4,077,206.28. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Dana L. Evan sold 6,397 shares of the company’s stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $31.35, for a total value of $200,545.95. Following the transaction, the director now owns 123,782 shares of the company’s stock, valued at approximately $3,880,565.70. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Dana L. Evan sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, December 21st. The stock was sold at an average price of $31.32, for a total value of $156,600.00. Following the sale, the director now directly owns 130,179 shares of the company’s stock, valued at $4,077,206.28. The disclosure for this sale can be found here. Insiders sold a total of 59,696 shares of company stock worth $1,779,626 in the last three months. 5.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. James Investment Research Inc. purchased a new position in shares of BOX during the fourth quarter worth $27,000. Fairfield Bush & CO. acquired a new position in BOX in the 1st quarter valued at about $29,000. Glass Jacobson Investment Advisors llc purchased a new stake in BOX during the fourth quarter worth about $44,000. Harbor Investment Advisory LLC lifted its position in shares of BOX by 32.3% during the third quarter. Harbor Investment Advisory LLC now owns 1,687 shares of the software maker’s stock worth $41,000 after purchasing an additional 412 shares in the last quarter. Finally, FNY Investment Advisers LLC purchased a new position in shares of BOX in the fourth quarter valued at approximately $58,000. 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.