BOX’s (BOX) Market Outperform Rating Reaffirmed at JMP Securities

JMP Securities reaffirmed their market outperform rating on shares of BOX (NYSE:BOXFree Report) in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a $32.00 price target on the software maker’s stock.

Several other research analysts also recently weighed in on BOX. Raymond James cut their price target on BOX from $33.00 to $30.00 and set an outperform rating for the company in a research note on Wednesday, December 6th. Citigroup increased their price target on BOX from $29.00 to $32.00 and gave the stock a buy rating in a research note on Wednesday, March 6th. Morgan Stanley dropped their price objective on BOX from $35.00 to $32.00 and set an overweight rating on the stock in a report on Wednesday, December 6th. KeyCorp dropped their price objective on BOX from $33.00 to $30.00 and set an overweight rating on the stock in a report on Wednesday, December 6th. Finally, TheStreet raised BOX from a c rating to a b rating in a report on Tuesday, March 5th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $30.89.

Read Our Latest Report on BOX

BOX Stock Down 1.6 %

Shares of NYSE:BOX opened at $28.34 on Wednesday. BOX has a twelve month low of $23.29 and a twelve month high of $31.94. The stock’s 50 day moving average is $26.89 and its 200-day moving average is $25.81. The firm has a market capitalization of $4.09 billion, a price-to-earnings ratio of 42.30, a PEG ratio of 8.92 and a beta of 0.83.

Insider Buying and Selling at BOX

In other BOX news, VP Eli Berkovitch sold 7,750 shares of the firm’s stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $24.94, for a total value of $193,285.00. Following the sale, the vice president now owns 136,733 shares of the company’s stock, valued at approximately $3,410,121.02. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other BOX news, CEO Aaron Levie sold 10,000 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $29.47, for a total value of $294,700.00. Following the sale, the chief executive officer now owns 3,048,653 shares of the company’s stock, valued at approximately $89,843,803.91. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Eli Berkovitch sold 7,750 shares of the firm’s stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $24.94, for a total value of $193,285.00. Following the transaction, the vice president now directly owns 136,733 shares in the company, valued at $3,410,121.02. The disclosure for this sale can be found here. Insiders have sold a total of 56,750 shares of company stock valued at $1,549,305 in the last 90 days. Corporate insiders own 4.90% of the company’s stock.

Hedge Funds Weigh In On BOX

Large investors have recently modified their holdings of the company. Comerica Bank purchased a new position in shares of BOX during the 2nd quarter valued at about $23,020,000. Rhumbline Advisers grew its position in BOX by 0.7% during the 3rd quarter. Rhumbline Advisers now owns 205,861 shares of the software maker’s stock worth $4,984,000 after acquiring an additional 1,347 shares during the last quarter. Burney Co. grew its position in BOX by 19.0% during the 3rd quarter. Burney Co. now owns 296,958 shares of the software maker’s stock worth $7,189,000 after acquiring an additional 47,421 shares during the last quarter. Earnest Partners LLC grew its position in BOX by 1.2% during the 3rd quarter. Earnest Partners LLC now owns 6,132,385 shares of the software maker’s stock worth $148,465,000 after acquiring an additional 70,129 shares during the last quarter. Finally, KADENSA CAPITAL Ltd bought a new position in BOX during the 2nd quarter worth approximately $10,532,000. 87.90% of the stock is owned by hedge funds and other institutional investors.

About BOX

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Box, Inc provides a cloud content management platform that enables organizations of various sizes to manage and share their content from anywhere on any device. The company's Software-as-a-Service platform enables users to work with their content as they need from secure external collaboration and sharing, workspaces and portals, e-signature processes, and content workflows improving employee productivity and accelerating business processes.

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