BOX (NYSE:BOX) Price Target Raised to $36.00

BOX (NYSE:BOX) had its target price raised by Morgan Stanley from $33.00 to $36.00 in a report published on Wednesday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the software maker’s stock.

A number of other analysts also recently issued reports on the company. William Blair restated an “outperform” rating on shares of BOX in a research report on Thursday, November 14th. StockNews.com raised shares of BOX from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 15th. Citigroup raised their price objective on shares of BOX from $32.00 to $34.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. UBS Group upped their target price on BOX from $31.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. Finally, Monness Crespi & Hardt raised BOX to a “hold” rating in a research note on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, BOX currently has a consensus rating of “Moderate Buy” and an average price target of $34.00.

BOX Price Performance

Shares of BOX stock opened at $32.49 on Wednesday. The company has a market cap of $4.65 billion, a PE ratio of 40.61 and a beta of 0.86. The stock’s 50 day simple moving average is $33.04 and its two-hundred day simple moving average is $29.91. BOX has a 1 year low of $23.78 and a 1 year high of $35.74.

Insiders Place Their Bets

In other BOX news, Director Jack R. Lazar sold 2,500 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $34.75, for a total transaction of $86,875.00. Following the transaction, the director now directly owns 26,697 shares in the company, valued at $927,720.75. This represents a 8.56 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Dylan C. Smith sold 13,000 shares of the business’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $32.52, for a total transaction of $422,760.00. Following the completion of the sale, the chief financial officer now owns 1,474,509 shares of the company’s stock, valued at approximately $47,951,032.68. This represents a 0.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 51,500 shares of company stock worth $1,711,135 in the last ninety days. 4.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On BOX

A number of hedge funds have recently made changes to their positions in the stock. Franklin Resources Inc. raised its holdings in BOX by 8.2% in the third quarter. Franklin Resources Inc. now owns 21,823 shares of the software maker’s stock worth $712,000 after purchasing an additional 1,646 shares in the last quarter. Sanctuary Advisors LLC raised its stake in shares of BOX by 24.5% during the 3rd quarter. Sanctuary Advisors LLC now owns 35,352 shares of the software maker’s stock worth $1,212,000 after acquiring an additional 6,965 shares in the last quarter. Coldstream Capital Management Inc. lifted its position in BOX by 13.1% during the third quarter. Coldstream Capital Management Inc. now owns 14,546 shares of the software maker’s stock valued at $476,000 after acquiring an additional 1,690 shares during the last quarter. Geode Capital Management LLC boosted its stake in BOX by 0.4% in the third quarter. Geode Capital Management LLC now owns 3,249,823 shares of the software maker’s stock valued at $106,387,000 after acquiring an additional 13,028 shares in the last quarter. Finally, MML Investors Services LLC purchased a new position in BOX in the third quarter worth $266,000. 86.74% of the stock is currently owned by hedge funds and other institutional investors.

About BOX

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.