BOX (NYSE:BOX) Cut to “Buy” at StockNews.com

StockNews.com downgraded shares of BOX (NYSE:BOX) from a strong-buy rating to a buy rating in a research note released on Wednesday.

Other equities analysts have also recently issued research reports about the stock. Oppenheimer restated an outperform rating and set a $35.00 target price on shares of BOX in a research note on Wednesday, May 29th. Morgan Stanley lowered their target price on shares of BOX from $32.00 to $30.00 and set an equal weight rating on the stock in a research note on Wednesday, May 29th. UBS Group lowered their target price on shares of BOX from $34.00 to $31.00 and set a buy rating on the stock in a research note on Wednesday, May 29th. Finally, Royal Bank of Canada restated an underperform rating and set a $21.00 target price on shares of BOX in a research note on Wednesday, May 29th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $30.33.

BOX Price Performance

BOX stock traded up $0.27 during mid-day trading on Wednesday, reaching $27.51. The stock had a trading volume of 1,626,941 shares, compared to its average volume of 1,919,530. The company has a market capitalization of $3.97 billion, a price-to-earnings ratio of 37.68 and a beta of 0.86. The company has a 50-day moving average price of $26.55 and a two-hundred day moving average price of $26.87. BOX has a one year low of $23.29 and a one year high of $30.98.

BOX (NYSE:BOX) last announced its quarterly earnings results on Tuesday, May 28th. The software maker reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.03. The company had revenue of $264.66 million for the quarter, compared to analysts’ expectations of $261.65 million. BOX had a net margin of 13.13% and a negative return on equity of 11.71%. On average, equities research analysts anticipate that BOX will post 0.19 earnings per share for the current fiscal year.

Insider Activity

In related news, VP Eli Berkovitch sold 3,300 shares of the stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $25.90, for a total value of $85,470.00. Following the completion of the sale, the vice president now directly owns 152,372 shares of the company’s stock, valued at approximately $3,946,434.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Dylan C. Smith sold 13,000 shares of the stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $26.38, for a total value of $342,940.00. Following the completion of the sale, the chief financial officer now directly owns 1,552,912 shares of the company’s stock, valued at approximately $40,965,818.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Eli Berkovitch sold 3,300 shares of the stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $25.90, for a total transaction of $85,470.00. Following the completion of the sale, the vice president now directly owns 152,372 shares of the company’s stock, valued at $3,946,434.80. The disclosure for this sale can be found here. Insiders sold 46,560 shares of company stock valued at $1,204,790 in the last quarter. 4.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BOX. a16z Perennial Management L.P. bought a new position in BOX in the 4th quarter worth approximately $48,000. TFO Wealth Partners LLC boosted its position in shares of BOX by 62,000.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,863 shares of the software maker’s stock valued at $48,000 after acquiring an additional 1,860 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in shares of BOX by 31.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,627 shares of the software maker’s stock valued at $69,000 after acquiring an additional 632 shares during the last quarter. Quest Partners LLC bought a new position in shares of BOX during the 2nd quarter valued at approximately $95,000. Finally, Covestor Ltd boosted its position in shares of BOX by 27.3% during the 1st quarter. Covestor Ltd now owns 4,312 shares of the software maker’s stock valued at $122,000 after acquiring an additional 924 shares during the last quarter. 86.74% of the stock is currently 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.