BOX (NYSE:BOX) Sees Large Volume Increase on Analyst Upgrade

Shares of Box, Inc. (NYSE:BOX - Get Free Report) saw strong trading volume on Thursday after JPMorgan Chase & Co. raised their price target on the stock from $37.00 to $39.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. 3,198,637 shares were traded during mid-day trading, an increase of 69% from the previous session's volume of 1,890,332 shares.The stock last traded at $36.55 and had previously closed at $36.87.

BOX has been the topic of several other research reports. UBS Group upgraded shares of BOX from a "buy" rating to a "strong-buy" rating and upped their price target for the stock from $37.00 to $40.00 in a research report on Wednesday. DA Davidson set a $45.00 price target on shares of BOX and gave the stock a "buy" rating in a research report on Wednesday. Royal Bank of Canada upped their price target on shares of BOX from $21.00 to $24.00 and gave the stock an "underperform" rating in a research report on Wednesday. Raymond James reiterated an "outperform" rating and set a $38.00 price target (down previously from $40.00) on shares of BOX in a research report on Wednesday, March 5th. Finally, Morgan Stanley upped their price target on shares of BOX from $35.00 to $38.00 and gave the stock an "equal weight" rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, one has given a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $38.50.

Insider Buying and Selling at BOX

In related news, CFO Dylan C. Smith sold 13,000 shares of the stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $31.52, for a total value of $409,760.00. Following the sale, the chief financial officer now directly owns 1,520,550 shares in the company, valued at $47,927,736. This trade represents a 0.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Aaron Levie sold 10,000 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $32.08, for a total transaction of $320,800.00. Following the completion of the sale, the chief executive officer now owns 2,979,780 shares in the company, valued at $95,591,342.40. This represents a 0.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,377 shares of company stock worth $2,060,714. Company insiders own 3.90% of the company's stock.

Institutional Trading of BOX

Large investors have recently bought and sold shares of the business. Quantinno Capital Management LP bought a new stake in BOX during the 4th quarter worth approximately $289,000. Integrated Quantitative Investments LLC bought a new stake in BOX during the 4th quarter worth approximately $1,418,000. Bryce Point Capital LLC bought a new stake in BOX during the 4th quarter worth approximately $1,620,000. Beacon Harbor Wealth Advisors Inc. bought a new stake in BOX during the 4th quarter worth approximately $5,997,000. Finally, Robeco Institutional Asset Management B.V. bought a new stake in BOX during the 4th quarter worth approximately $981,000. 86.74% of the stock is owned by institutional investors.

BOX Trading Up 1.3%

The business has a 50 day moving average of $31.19 and a 200-day moving average of $32.17. The firm has a market capitalization of $5.44 billion, a P/E ratio of 47.30, a PEG ratio of 4.42 and a beta of 0.94.

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

BOX declared that its Board of Directors has authorized a stock repurchase program on Tuesday, March 4th that allows the company to buyback $150.00 million in shares. This buyback authorization allows the software maker to purchase up to 3.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company's leadership believes its shares are undervalued.

BOX Company Profile

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.