BOX (NYSE:BOX) Price Target Raised to $40.00

BOX (NYSE:BOX) had its price objective raised by Citigroup from $34.00 to $40.00 in a report published on Wednesday morning,Benzinga reports. Citigroup currently has a buy rating on the software maker’s stock.

Other equities analysts also recently issued research reports about the company. Monness Crespi & Hardt raised BOX to a “hold” rating in a research report on Friday, August 16th. Royal Bank of Canada reiterated an “underperform” rating and set a $21.00 price objective on shares of BOX in a research report on Wednesday, August 28th. Morgan Stanley boosted their target price on shares of BOX from $33.00 to $36.00 and gave the company an “equal weight” rating in a research report on Wednesday. UBS Group raised their price target on shares of BOX from $34.00 to $42.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, StockNews.com upgraded shares of BOX from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 15th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $34.00.

BOX Price Performance

Shares of BOX opened at $32.49 on Wednesday. The firm has a market capitalization of $4.65 billion, a PE ratio of 40.61 and a beta of 0.86. The company’s 50-day moving average is $33.04 and its 200-day moving average is $29.91. BOX has a fifty-two week low of $23.78 and a fifty-two week high of $35.74.

Insider Buying and Selling at BOX

In related news, CEO Aaron Levie sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $32.92, for a total value of $329,200.00. Following the sale, the chief executive officer now directly owns 3,009,155 shares of the company’s stock, valued at $99,061,382.60. This trade represents a 0.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Dylan C. Smith sold 13,000 shares of BOX stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $32.52, for a total value of $422,760.00. Following the completion of the transaction, the chief financial officer now owns 1,474,509 shares in the company, 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 sold a total of 51,500 shares of company stock worth $1,711,135 over the last three months. Corporate insiders own 4.10% of the company’s stock.

Institutional Trading of BOX

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Tidal Investments LLC acquired a new stake in shares of BOX during the 1st quarter valued at $391,000. Comerica Bank boosted its stake in shares of BOX by 964.7% during the first quarter. Comerica Bank now owns 85,081 shares of the software maker’s stock valued at $2,409,000 after purchasing an additional 77,090 shares in the last quarter. Harbor Capital Advisors Inc. grew its holdings in shares of BOX by 57.5% during the second quarter. Harbor Capital Advisors Inc. now owns 25,956 shares of the software maker’s stock worth $686,000 after purchasing an additional 9,477 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of BOX by 80.7% in the second quarter. SG Americas Securities LLC now owns 15,794 shares of the software maker’s stock valued at $418,000 after buying an additional 7,053 shares during the period. Finally, Diversified Trust Co raised its holdings in BOX by 2.9% in the 2nd quarter. Diversified Trust Co now owns 26,980 shares of the software maker’s stock valued at $713,000 after buying an additional 768 shares during the last quarter. Institutional investors own 86.74% of the company’s stock.

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.