Box, Inc. (NYSE:BOX) Receives $36.44 Average Target Price from Brokerages

Shares of Box, Inc. (NYSE:BOX - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the eleven brokerages that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $36.44.

BOX has been the subject of a number of recent research reports. JPMorgan Chase & Co. dropped their target price on BOX from $38.00 to $37.00 and set an "overweight" rating for the company in a research report on Wednesday, March 5th. DA Davidson lowered their price objective on shares of BOX from $45.00 to $40.00 and set a "buy" rating for the company in a report on Monday, April 14th. StockNews.com raised shares of BOX from a "buy" rating to a "strong-buy" rating in a report on Wednesday, May 14th. Raymond James reissued an "outperform" rating and issued a $38.00 price target (down from $40.00) on shares of BOX in a research note on Wednesday, March 5th. Finally, Royal Bank of Canada restated an "underperform" rating and set a $21.00 price target on shares of BOX in a research report on Wednesday, March 19th.

Insider Buying and Selling at BOX

In other news, COO Olivia Nottebohm sold 2,105 shares of BOX stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $30.76, for a total value of $64,749.80. Following the sale, the chief operating officer now directly owns 427,113 shares in the company, valued at approximately $13,137,995.88. This trade represents a 0.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Eli Berkovitch sold 5,651 shares of the business's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $30.66, for a total value of $173,259.66. Following the transaction, the vice president now directly owns 124,672 shares in the company, valued at $3,822,443.52. This trade represents a 4.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 66,377 shares of company stock worth $2,060,714. 3.90% of the stock is currently owned by company insiders.

Institutional Trading of BOX

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Arrowstreet Capital Limited Partnership raised its holdings in BOX by 103.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,386,370 shares of the software maker's stock worth $107,009,000 after purchasing an additional 1,725,197 shares in the last quarter. Norges Bank bought a new stake in shares of BOX during the 4th quarter valued at about $29,973,000. Jupiter Asset Management Ltd. purchased a new position in shares of BOX during the fourth quarter valued at about $24,234,000. Fisher Asset Management LLC raised its stake in BOX by 420.6% in the fourth quarter. Fisher Asset Management LLC now owns 857,498 shares of the software maker's stock worth $27,097,000 after buying an additional 692,784 shares in the last quarter. Finally, Sunriver Management LLC lifted its holdings in BOX by 62.9% in the first quarter. Sunriver Management LLC now owns 1,546,862 shares of the software maker's stock worth $47,736,000 after buying an additional 597,410 shares during the period. Hedge funds and other institutional investors own 86.74% of the company's stock.

BOX Stock Performance

BOX traded down $0.41 during trading on Friday, reaching $31.56. The stock had a trading volume of 1,559,083 shares, compared to its average volume of 1,817,509. The business has a 50-day moving average of $30.74 and a 200-day moving average of $32.18. BOX has a one year low of $24.63 and a one year high of $35.74. The stock has a market cap of $4.54 billion, a PE ratio of 39.45, a PEG ratio of 4.42 and a beta of 0.94.

BOX announced that its Board of Directors has initiated a share repurchase program on Tuesday, March 4th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the software maker to buy up to 3.1% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's leadership believes its shares are undervalued.

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.