BOX’s (BOX) “Buy” Rating Reaffirmed at DA Davidson

DA Davidson reissued their buy rating on shares of BOX (NYSE:BOX) in a report published on Wednesday,Benzinga reports. DA Davidson currently has a $45.00 price target on the software maker’s stock.

Several other equities research analysts also recently commented on BOX. JPMorgan Chase & Co. reduced their price objective on BOX from $38.00 to $37.00 and set an “overweight” rating for the company in a report on Wednesday, March 5th. StockNews.com lowered shares of BOX from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, January 8th. Royal Bank of Canada reissued an “underperform” rating and set a $21.00 price objective on shares of BOX in a report on Wednesday. Morgan Stanley raised their target price on shares of BOX from $33.00 to $36.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 4th. Finally, Citigroup boosted their target price on shares of BOX from $34.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, BOX presently has an average rating of “Moderate Buy” and a consensus price target of $36.60.

BOX Trading Down 0.1 %

Shares of BOX opened at $30.83 on Wednesday. BOX has a 12 month low of $24.63 and a 12 month high of $35.74. The business’s fifty day simple moving average is $32.76 and its two-hundred day simple moving average is $32.74. The company has a market cap of $4.43 billion, a price-to-earnings ratio of 38.53, a P/E/G ratio of 4.42 and a beta of 1.00.

BOX declared that its Board of Directors has approved a share buyback program on Tuesday, March 4th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the software maker to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Insider Activity at BOX

In other news, COO Olivia Nottebohm sold 6,079 shares of BOX stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $34.42, for a total transaction of $209,239.18. Following the transaction, the chief operating officer now directly owns 440,988 shares of the company’s stock, valued at $15,178,806.96. The trade was a 1.36 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Aaron Levie sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $32.08, for a total value of $320,800.00. Following the transaction, the chief executive officer now owns 2,979,780 shares of the company’s stock, valued at approximately $95,591,342.40. This trade represents a 0.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 78,363 shares of company stock worth $2,533,374. Corporate insiders own 4.10% of the company’s stock.

Institutional Trading of BOX

Several institutional investors and hedge funds have recently modified their holdings of the company. Natixis Advisors LLC boosted its holdings in BOX by 20.5% in the 3rd quarter. Natixis Advisors LLC now owns 382,530 shares of the software maker’s stock worth $12,520,000 after buying an additional 65,185 shares during the period. Quest Partners LLC grew its position in shares of BOX by 1,012.4% during the third quarter. Quest Partners LLC now owns 40,003 shares of the software maker’s stock worth $1,309,000 after purchasing an additional 36,407 shares in the last quarter. Pathstone Holdings LLC raised its stake in BOX by 7.3% during the 3rd quarter. Pathstone Holdings LLC now owns 51,813 shares of the software maker’s stock valued at $1,696,000 after purchasing an additional 3,532 shares during the period. Intech Investment Management LLC bought a new stake in BOX during the 3rd quarter valued at approximately $1,190,000. Finally, Integrated Investment Consultants LLC lifted its holdings in BOX by 8.9% in the 3rd quarter. Integrated Investment Consultants LLC now owns 15,542 shares of the software maker’s stock worth $509,000 after purchasing an additional 1,268 shares in the last quarter. 86.74% of the stock is currently owned by institutional investors.

About BOX

Box, Inc engages in the provision of an 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, and Box KeySafe.