BOX (NYSE:BOX) Price Target Cut to $37.00 by Analysts at JPMorgan Chase & Co.

BOX (NYSE:BOX) had its target price decreased by JPMorgan Chase & Co. from $38.00 to $37.00 in a report released on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the software maker’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 15.99% from the stock’s current price.

BOX has been the subject of several other reports. StockNews.com cut BOX from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, January 8th. UBS Group increased their price target on shares of BOX from $34.00 to $42.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. DA Davidson began coverage on BOX in a report on Wednesday, December 18th. They issued a “buy” rating and a $45.00 target price for the company. Morgan Stanley lifted their price target on BOX from $33.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 4th. Finally, Royal Bank of Canada reissued an “underperform” rating and issued a $21.00 price objective on shares of BOX in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $36.44.

BOX Stock Down 4.7 %

BOX stock traded down $1.57 during midday trading on Wednesday, hitting $31.90. The company’s stock had a trading volume of 1,660,507 shares, compared to its average volume of 1,934,426. BOX has a 52-week low of $24.63 and a 52-week high of $35.74. The firm has a 50-day simple moving average of $32.81 and a 200-day simple moving average of $32.62. The firm has a market capitalization of $4.58 billion, a P/E ratio of 39.87, a PEG ratio of 4.42 and a beta of 0.88.

BOX declared that its Board of Directors has authorized a stock repurchase program on Tuesday, March 4th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the software maker to repurchase up to 3.1% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling at BOX

In other news, CFO Dylan C. Smith sold 13,000 shares of BOX stock in a transaction on Friday, January 10th. The stock was sold at an average price of $31.05, for a total transaction of $403,650.00. Following the completion of the transaction, the chief financial officer now owns 1,466,684 shares of the company’s stock, valued at $45,540,538.20. The trade was a 0.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Olivia Nottebohm sold 6,079 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $34.42, for a total transaction of $209,239.18. Following the completion of the sale, the chief operating officer now directly owns 440,988 shares in the company, valued at approximately $15,178,806.96. The trade was a 1.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 89,041 shares of company stock valued at $2,889,758. Corporate insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Itau Unibanco Holding S.A. acquired a new stake in BOX during the 3rd quarter valued at $36,000. Smartleaf Asset Management LLC increased its position in BOX by 715.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,162 shares of the software maker’s stock worth $69,000 after purchasing an additional 1,897 shares in the last quarter. TD Waterhouse Canada Inc. raised its stake in BOX by 42.4% in the 4th quarter. TD Waterhouse Canada Inc. now owns 2,194 shares of the software maker’s stock valued at $69,000 after purchasing an additional 653 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in BOX by 245.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,162 shares of the software maker’s stock valued at $71,000 after purchasing an additional 1,536 shares in the last quarter. Finally, SBI Securities Co. Ltd. purchased a new position in BOX in the 4th quarter valued at about $132,000. 86.74% of the stock is currently owned by institutional investors and hedge funds.

BOX Company Profile

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.