BOX (NYSE:BOX) Sets New 1-Year High - Here's What Happened

Shares of Box, Inc. (NYSE:BOX - Get Free Report) reached a new 52-week high during trading on Tuesday . The company traded as high as $38.36 and last traded at $38.06, with a volume of 3862651 shares traded. The stock had previously closed at $37.82.

Analysts Set New Price Targets

BOX has been the subject of a number of research reports. UBS Group raised shares of BOX from a "buy" rating to a "strong-buy" rating and boosted their target price for the stock from $37.00 to $40.00 in a research note on Wednesday, May 28th. Royal Bank of Canada upped their price objective on shares of BOX from $21.00 to $24.00 and gave the company an "underperform" rating in a research note on Wednesday, May 28th. DA Davidson set a $45.00 price objective on shares of BOX and gave the company a "buy" rating in a research note on Wednesday, May 28th. Wall Street Zen raised shares of BOX from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, May 14th. Finally, JPMorgan Chase & Co. upped their price objective on shares of BOX from $37.00 to $39.00 and gave the company an "overweight" rating in a research note on Wednesday, May 28th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $38.50.

BOX Price Performance

The company has a market cap of $5.54 billion, a price-to-earnings ratio of 48.16, a PEG ratio of 4.42 and a beta of 0.94. The firm has a 50 day simple moving average of $31.46 and a 200-day simple moving average of $32.23.

BOX (NYSE:BOX - Get Free Report) last released its quarterly earnings results on Tuesday, May 27th. The software maker reported $0.30 earnings per share for the quarter, topping analysts' consensus estimates of $0.25 by $0.05. The business had revenue of $276.27 million during the quarter, compared to analysts' expectations of $274.77 million. BOX had a negative return on equity of 17.20% and a net margin of 13.96%. The company's revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.39 EPS. Research analysts anticipate that Box, Inc. will post 0.27 EPS for the current fiscal year.

BOX declared that its Board of Directors has approved a stock repurchase 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 stock through open market purchases. Stock repurchase programs are often an indication that the company's board believes its stock is undervalued.

Insider Transactions at BOX

In other news, CEO Aaron Levie sold 10,000 shares of the company'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 directly owns 2,979,780 shares in the company, valued at approximately $95,591,342.40. This represents a 0.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Dylan C. Smith sold 13,000 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $31.95, for a total transaction of $415,350.00. Following the sale, the chief financial officer now owns 1,440,684 shares in the company, valued at approximately $46,029,853.80. This trade represents a 0.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 109,800 shares of company stock worth $3,661,762. 3.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On BOX

A number of hedge funds have recently added to or reduced their stakes in the business. Beverly Hills Private Wealth LLC lifted its holdings in BOX by 3.2% during the 1st quarter. Beverly Hills Private Wealth LLC now owns 11,550 shares of the software maker's stock worth $356,000 after buying an additional 362 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in BOX by 5.3% during the 4th quarter. Janney Montgomery Scott LLC now owns 7,807 shares of the software maker's stock worth $247,000 after buying an additional 391 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in BOX by 19.3% during the 4th quarter. Farther Finance Advisors LLC now owns 2,579 shares of the software maker's stock worth $81,000 after buying an additional 417 shares in the last quarter. Sanctuary Advisors LLC lifted its holdings in BOX by 1.2% during the 4th quarter. Sanctuary Advisors LLC now owns 35,775 shares of the software maker's stock worth $1,189,000 after buying an additional 423 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in BOX by 2.6% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 17,340 shares of the software maker's stock worth $548,000 after buying an additional 442 shares in the last quarter. 86.74% of the stock is currently owned by institutional investors and hedge funds.

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.