BOX (NYSE:BOX) Sets New 12-Month High – What’s Next?

Box, Inc. (NYSE:BOX)’s stock price reached a new 52-week high on Monday . The stock traded as high as $35.17 and last traded at $35.17, with a volume of 2383 shares trading hands. The stock had previously closed at $34.28.

Analysts Set New Price Targets

A number of brokerages recently issued reports on BOX. Morgan Stanley increased their price target on shares of BOX from $30.00 to $33.00 and gave the stock an “equal weight” rating in a report on Thursday, September 5th. Citigroup increased their target price on shares of BOX from $32.00 to $34.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. Royal Bank of Canada restated an “underperform” rating and issued a $21.00 price target on shares of BOX in a research note on Wednesday, August 28th. William Blair reiterated an “outperform” rating on shares of BOX in a research report on Thursday, November 14th. Finally, Monness Crespi & Hardt upgraded BOX to a “hold” rating in a research report on Friday, August 16th. One research analyst has rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $31.22.

BOX Stock Up 1.3 %

The company has a 50-day moving average of $32.77 and a 200 day moving average of $29.42. The stock has a market capitalization of $4.97 billion, a PE ratio of 43.39 and a beta of 0.85.

BOX (NYSE:BOX) last released its earnings results on Tuesday, August 27th. The software maker reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.04. The business had revenue of $270.04 million during the quarter, compared to analyst estimates of $269.52 million. BOX had a net margin of 13.94% and a negative return on equity of 14.41%. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.01 earnings per share. As a group, equities analysts predict that Box, Inc. will post 0.23 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Jack R. Lazar sold 2,500 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $34.75, for a total transaction of $86,875.00. Following the transaction, the director now owns 26,697 shares of the company’s stock, valued at approximately $927,720.75. The trade was a 8.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Dylan C. Smith sold 13,000 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $32.89, for a total transaction of $427,570.00. Following the sale, the chief financial officer now owns 1,500,661 shares of the company’s stock, valued at approximately $49,356,740.29. The trade was a 0.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 58,500 shares of company stock valued at $1,939,895 in the last ninety days. 4.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in BOX. Congress Asset Management Co. acquired a new position in shares of BOX in the 3rd quarter valued at $46,236,000. Earnest Partners LLC grew its stake in shares of BOX by 8.5% in the second quarter. Earnest Partners LLC now owns 7,960,924 shares of the software maker’s stock valued at $210,487,000 after buying an additional 620,450 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of BOX by 9.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,564,668 shares of the software maker’s stock valued at $67,809,000 after buying an additional 229,314 shares during the period. Assenagon Asset Management S.A. lifted its stake in BOX by 143.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 254,975 shares of the software maker’s stock worth $6,742,000 after acquiring an additional 150,309 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in BOX by 10.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,371,815 shares of the software maker’s stock valued at $44,900,000 after acquiring an additional 134,175 shares during the period. 86.74% of the stock is currently owned by institutional investors and hedge funds.

About BOX

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.