BOX’s (BOX) “Outperform” Rating Reaffirmed at William Blair

William Blair reaffirmed their outperform rating on shares of BOX (NYSE:BOX) in a report published on Thursday,RTT News reports.

Other research analysts have also issued research reports about the stock. Royal Bank of Canada reiterated an “underperform” rating and issued a $21.00 price objective on shares of BOX in a report on Wednesday, August 28th. StockNews.com upgraded BOX from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 15th. Citigroup lifted their target price on BOX from $32.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Monness Crespi & Hardt upgraded BOX to a “hold” rating in a research report on Friday, August 16th. Finally, Morgan Stanley upped 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 research analyst has rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, BOX currently has an average rating of “Moderate Buy” and an average target price of $31.22.

BOX Stock Down 2.2 %

Shares of BOX stock traded down $0.75 on Thursday, reaching $33.53. The company had a trading volume of 529,437 shares, compared to its average volume of 1,985,769. The business’s 50-day moving average is $32.68 and its 200 day moving average is $29.08. BOX has a one year low of $23.29 and a one year high of $35.07. The stock has a market capitalization of $4.80 billion, a PE ratio of 43.39 and a beta of 0.85.

BOX (NYSE:BOX) last issued its earnings results on Tuesday, August 27th. The software maker reported $0.44 earnings per share for the quarter, beating 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 firm had revenue of $270.04 million for the quarter, compared to analyst estimates of $269.52 million. During the same quarter last year, the business posted $0.01 earnings per share. The company’s quarterly revenue was up 3.3% on a year-over-year basis. On average, sell-side analysts forecast that BOX will post 0.23 earnings per share for the current fiscal year.

Insider Activity at BOX

In other BOX news, Director Jack R. Lazar sold 7,000 shares of the business’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $32.68, for a total transaction of $228,760.00. Following the completion of the sale, the director now owns 29,197 shares in the company, valued at approximately $954,157.96. The trade was a 19.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Dylan C. Smith sold 13,000 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $34.21, for a total transaction of $444,730.00. Following the transaction, the chief financial officer now owns 1,461,509 shares in the company, valued at approximately $49,998,222.89. The trade was a 0.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 58,500 shares of company stock valued at $1,939,895 in the last three months. Corporate insiders own 4.10% of the company’s stock.

Institutional Trading of BOX

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Itau Unibanco Holding S.A. purchased a new position in shares of BOX during the third quarter valued at approximately $36,000. Quarry LP grew its stake in shares of 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 acquiring an additional 1,084 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of 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 bought a new position in shares of BOX during the second quarter valued at about $53,000. Finally, Nisa Investment Advisors LLC boosted its holdings in BOX by 31.7% during 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.