BOX (NYSE:BOX) Earns Buy Rating from Analysts at Bank of America

Bank of America initiated coverage on shares of BOX (NYSE:BOX) in a research note published on Thursday morning, MarketBeat reports. The brokerage issued a buy rating and a $40.00 target price on the software maker’s stock.

A number of other equities research analysts also recently issued reports on BOX. Citigroup increased their price objective on shares of BOX from $34.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Monness Crespi & Hardt upgraded BOX to a “hold” rating in a research note on Friday, August 16th. Morgan Stanley lifted their price target on BOX from $33.00 to $36.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 4th. UBS Group raised their price objective on BOX from $34.00 to $42.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, StockNews.com downgraded BOX from a “strong-buy” rating to a “buy” rating in a research note on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $34.75.

BOX Price Performance

BOX stock opened at $32.49 on Thursday. The stock’s fifty day moving average price is $33.10 and its two-hundred day moving average price is $30.18. The firm has a market cap of $4.67 billion, a PE ratio of 40.61 and a beta of 0.86. BOX has a one year low of $24.28 and a one year high of $35.74.

Insider Buying and Selling at BOX

In other BOX news, CEO Aaron Levie sold 10,000 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $32.54, for a total transaction of $325,400.00. Following the transaction, the chief executive officer now directly owns 2,999,155 shares in the company, valued at approximately $97,592,503.70. This represents a 0.33 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jack R. Lazar sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $34.75, for a total transaction of $86,875.00. Following the sale, the director now directly owns 26,697 shares of the company’s stock, valued at approximately $927,720.75. This trade represents a 8.56 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 57,386 shares of company stock valued at $1,891,350. 4.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On BOX

Several institutional investors have recently made changes to their positions in the stock. Itau Unibanco Holding S.A. bought a new stake in BOX in the 3rd quarter valued at about $36,000. GAMMA Investing LLC boosted its holdings in BOX by 143.1% in the third quarter. GAMMA Investing LLC now owns 1,337 shares of the software maker’s stock worth $44,000 after acquiring an additional 787 shares in the last quarter. Quarry LP grew its stake in BOX by 324.6% in the second quarter. Quarry LP now owns 1,418 shares of the software maker’s stock valued at $37,000 after acquiring an additional 1,084 shares during the period. Toronto Dominion Bank bought a new stake in shares of BOX during the second quarter valued at approximately $53,000. Finally, Farther Finance Advisors LLC raised its position in shares of BOX by 245.4% during the third quarter. Farther Finance Advisors LLC now owns 2,162 shares of the software maker’s stock worth $71,000 after purchasing an additional 1,536 shares during the period. Institutional investors and hedge funds own 86.74% of the company’s stock.

BOX Company Profile

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.