BOX (NYSE:BOX) Now Covered by Bank of America

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

Several other equities analysts also recently commented on BOX. Monness Crespi & Hardt upgraded shares of BOX to a “hold” rating in a research note on Friday, August 16th. Royal Bank of Canada restated an “underperform” rating and set a $21.00 price target on shares of BOX in a report on Wednesday, December 4th. Morgan Stanley lifted their price objective on BOX from $33.00 to $36.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 4th. William Blair reissued an “outperform” rating on shares of BOX in a research report on Thursday, November 14th. Finally, UBS Group raised their target price on shares of BOX from $34.00 to $42.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $34.75.

BOX Stock Performance

Shares of BOX stock opened at $33.02 on Thursday. BOX has a fifty-two week low of $24.15 and a fifty-two week high of $35.74. The company has a 50 day moving average price of $33.09 and a 200 day moving average price of $30.09. The stock has a market capitalization of $4.73 billion, a P/E ratio of 41.28 and a beta of 0.86.

Insider Activity at BOX

In related news, CFO Dylan C. Smith sold 13,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $32.52, for a total transaction of $422,760.00. Following the transaction, the chief financial officer now owns 1,474,509 shares in the company, valued at $47,951,032.68. This trade represents a 0.87 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Daniel J. Levin sold 5,886 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $32.50, for a total value of $191,295.00. Following the completion of the sale, the director now owns 51,530 shares of the company’s stock, valued at approximately $1,674,725. This represents a 10.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 57,386 shares of company stock valued at $1,891,350 over the last three months. 4.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of BOX. Franklin Resources Inc. boosted its stake in shares of BOX by 8.2% during the third quarter. Franklin Resources Inc. now owns 21,823 shares of the software maker’s stock worth $712,000 after buying an additional 1,646 shares during the period. Sanctuary Advisors LLC raised its stake in BOX by 24.5% during the 3rd quarter. Sanctuary Advisors LLC now owns 35,352 shares of the software maker’s stock valued at $1,212,000 after acquiring an additional 6,965 shares during the last quarter. Coldstream Capital Management Inc. raised its stake in BOX by 13.1% during the 3rd 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 lifted its position in BOX by 0.4% during the 3rd quarter. Geode Capital Management LLC now owns 3,249,823 shares of the software maker’s stock worth $106,387,000 after acquiring an additional 13,028 shares during the period. Finally, MML Investors Services LLC purchased a new position in shares of BOX in the 3rd quarter valued at approximately $266,000. 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.