William Blair Reiterates Outperform Rating for BOX (NYSE:BOX)

William Blair restated their outperform rating on shares of BOX (NYSE:BOX) in a research note released on Thursday,RTT News reports.

BOX has been the topic of several other reports. UBS Group upped their price objective on shares of BOX from $31.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. Monness Crespi & Hardt raised shares of BOX to a “hold” rating in a report on Friday, August 16th. StockNews.com raised shares of BOX from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 15th. Citigroup increased their price objective on BOX from $32.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Finally, Morgan Stanley lifted their target price on BOX from $30.00 to $33.00 and gave the company an “equal weight” rating in a report on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $31.22.

BOX Stock Down 2.2 %

NYSE BOX traded down $0.75 during trading hours on Thursday, reaching $33.53. 529,437 shares of the company were exchanged, compared to its average volume of 1,985,769. The stock has a market capitalization of $4.80 billion, a P/E ratio of 43.39 and a beta of 0.85. BOX has a 1 year low of $23.29 and a 1 year high of $35.07. The business’s 50 day simple moving average is $32.68 and its 200-day simple moving average is $29.08.

BOX (NYSE:BOX) last posted its quarterly earnings results on Tuesday, August 27th. The software maker reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.04. BOX had a net margin of 13.94% and a negative return on equity of 14.41%. The company had revenue of $270.04 million for the quarter, compared to analysts’ expectations of $269.52 million. During the same quarter in the previous year, the firm posted $0.01 EPS. BOX’s revenue was up 3.3% on a year-over-year basis. As a group, sell-side analysts anticipate that BOX will post 0.23 earnings per share for the current year.

Insider Activity

In other BOX news, CFO Dylan C. Smith sold 13,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $32.89, for a total value of $427,570.00. Following the completion of the sale, the chief financial officer now owns 1,500,661 shares of the company’s stock, valued at $49,356,740.29. This represents a 0.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jack R. Lazar sold 2,500 shares of BOX stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $34.75, for a total transaction of $86,875.00. Following the transaction, the director now directly owns 26,697 shares in the company, valued at $927,720.75. This trade represents a 8.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 58,500 shares of company stock worth $1,939,895. 4.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of BOX. Itau Unibanco Holding S.A. bought a new stake in shares of BOX in the 3rd quarter valued at about $36,000. Quarry LP increased its stake in BOX by 324.6% in the 2nd quarter. Quarry LP now owns 1,418 shares of the software maker’s stock worth $37,000 after purchasing an additional 1,084 shares during the period. GAMMA Investing LLC lifted its position in BOX by 143.1% in the third quarter. GAMMA Investing LLC now owns 1,337 shares of the software maker’s stock valued at $44,000 after purchasing an additional 787 shares during the last quarter. Toronto Dominion Bank purchased a new stake in shares of BOX during the second quarter valued at approximately $53,000. Finally, Nisa Investment Advisors LLC grew its holdings in shares of BOX by 31.7% in the second quarter. Nisa Investment Advisors LLC now owns 2,627 shares of the software maker’s stock worth $69,000 after purchasing an additional 632 shares during the last quarter. 86.74% of the stock is owned by institutional investors.

BOX Company Profile

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.