BOX (NYSE:BOX) Price Target Lowered to $35.00 at Morgan Stanley

BOX (NYSE:BOX - Free Report) had its price target trimmed by Morgan Stanley from $36.00 to $35.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an equal weight rating on the software maker's stock.

Other analysts also recently issued research reports about the company. Royal Bank of Canada restated an "underperform" rating and issued a $21.00 price target on shares of BOX in a research note on Wednesday, March 19th. Raymond James reissued an "outperform" rating and issued a $38.00 target price (down from $40.00) on shares of BOX in a research note on Wednesday, March 5th. DA Davidson lowered their price target on BOX from $45.00 to $40.00 and set a "buy" rating for the company in a research report on Monday, April 14th. StockNews.com cut shares of BOX from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, January 8th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of BOX from $38.00 to $37.00 and set an "overweight" rating for the company in a research note on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, BOX currently has an average rating of "Moderate Buy" and an average target price of $36.44.

BOX Stock Down 1.0 %

Shares of NYSE:BOX traded down $0.31 during midday trading on Wednesday, reaching $29.34. The company's stock had a trading volume of 1,155,370 shares, compared to its average volume of 1,815,798. The firm has a 50 day moving average of $31.64 and a 200-day moving average of $32.33. The firm has a market capitalization of $4.22 billion, a P/E ratio of 36.68, a PEG ratio of 4.42 and a beta of 0.96. BOX has a 12-month low of $24.63 and a 12-month high of $35.74.

BOX declared that its board has authorized a stock repurchase plan on Tuesday, March 4th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the software maker to repurchase up to 3.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's leadership believes its shares are undervalued.

Insider Activity at BOX

In related news, VP Eli Berkovitch sold 5,651 shares of BOX stock in a transaction on Monday, March 24th. The stock was sold at an average price of $30.66, for a total transaction of $173,259.66. Following the transaction, the vice president now directly owns 124,672 shares in the company, valued at approximately $3,822,443.52. The trade was a 4.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Aaron Levie sold 10,000 shares of the firm's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $32.08, for a total value of $320,800.00. Following the completion of the transaction, the chief executive officer now directly owns 2,979,780 shares in the company, valued at $95,591,342.40. This trade represents a 0.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 72,996 shares of company stock worth $2,329,886 over the last quarter. Company insiders own 4.10% of the company's stock.

Institutional Investors Weigh In On BOX

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC boosted its position in shares of BOX by 5.3% in the fourth quarter. Janney Montgomery Scott LLC now owns 7,807 shares of the software maker's stock worth $247,000 after purchasing an additional 391 shares during the period. Farther Finance Advisors LLC lifted its stake in shares of BOX by 19.3% during the 4th quarter. Farther Finance Advisors LLC now owns 2,579 shares of the software maker's stock valued at $81,000 after buying an additional 417 shares in the last quarter. Sanctuary Advisors LLC boosted its holdings in BOX by 1.2% in 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 during the period. Aspiriant LLC increased its stake in BOX by 5.0% in the 4th quarter. Aspiriant LLC now owns 9,048 shares of the software maker's stock worth $286,000 after buying an additional 427 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in BOX by 2.6% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 17,340 shares of the software maker's stock valued at $548,000 after acquiring an additional 442 shares during the period. 86.74% of the stock is owned by hedge funds and other institutional investors.

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.