Royal Bank of Canada Reaffirms “Underperform” Rating for BOX (NYSE:BOX)

BOX (NYSE:BOX)‘s stock had its “underperform” rating reiterated by investment analysts at Royal Bank of Canada in a research report issued on Wednesday,Benzinga reports. They presently have a $21.00 target price on the software maker’s stock. Royal Bank of Canada’s price objective indicates a potential downside of 34.54% from the company’s previous close.

BOX has been the topic of several other research reports. UBS Group increased their price objective on shares of BOX from $34.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday. William Blair reissued an “outperform” rating on shares of BOX in a research report on Thursday, November 14th. StockNews.com raised BOX from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 15th. Morgan Stanley boosted their price target on BOX from $33.00 to $36.00 and gave the company an “equal weight” rating in a report on Wednesday. Finally, Citigroup boosted their price objective on BOX from $34.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $33.11.

BOX Price Performance

BOX stock traded down $2.34 during mid-day trading on Wednesday, reaching $32.08. 2,431,916 shares of the stock traded hands, compared to its average volume of 1,993,953. BOX has a 12-month low of $23.29 and a 12-month high of $35.74. The business’s 50-day moving average is $33.07 and its 200-day moving average is $29.84. The stock has a market capitalization of $4.59 billion, a PE ratio of 40.61 and a beta of 0.86.

Insider Activity at BOX

In other news, Director Jack R. Lazar sold 2,500 shares of the business’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 transaction, the director now owns 26,697 shares of the company’s stock, valued at approximately $927,720.75. The trade was a 8.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Dylan C. Smith sold 13,000 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $34.21, for a total transaction of $444,730.00. Following the completion of the sale, the chief financial officer now owns 1,461,509 shares of the company’s stock, valued at $49,998,222.89. This trade represents a 0.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 51,500 shares of company stock valued at $1,711,135 over the last 90 days. 4.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On BOX

A number of institutional investors have recently modified their holdings of BOX. Glenmede Trust Co. NA lifted its holdings in shares of BOX by 1.6% during the third quarter. Glenmede Trust Co. NA now owns 34,107 shares of the software maker’s stock worth $1,116,000 after purchasing an additional 535 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in BOX by 3.7% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 15,831 shares of the software maker’s stock valued at $419,000 after purchasing an additional 560 shares during the period. Connable Office Inc. boosted its holdings in BOX by 3.8% in the second quarter. Connable Office Inc. now owns 15,707 shares of the software maker’s stock valued at $415,000 after purchasing an additional 573 shares during the last quarter. Creative Planning grew its position in BOX by 4.2% during the 3rd quarter. Creative Planning now owns 15,743 shares of the software maker’s stock worth $515,000 after purchasing an additional 631 shares during the period. Finally, Nisa Investment Advisors LLC raised its stake in shares of BOX by 31.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,627 shares of the software maker’s stock valued at $69,000 after buying an additional 632 shares during the last quarter. 86.74% of the stock is owned by hedge funds and other institutional investors.

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.