BOX (NYSE:BOX) Reaches New 12-Month High at $33.45

Shares of Box, Inc. (NYSE:BOX) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $33.45 and last traded at $33.08, with a volume of 725717 shares traded. The stock had previously closed at $32.60.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on BOX. Citigroup increased their price objective on shares of BOX from $32.00 to $34.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Oppenheimer reissued an “outperform” rating and set a $35.00 price objective on shares of BOX in a research report on Wednesday, May 29th. Monness Crespi & Hardt raised shares of BOX to a “hold” rating in a research report on Friday, August 16th. Royal Bank of Canada restated an “underperform” rating and issued a $21.00 target price on shares of BOX in a report on Wednesday, August 28th. Finally, Morgan Stanley lowered their target price on shares of BOX from $32.00 to $30.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 29th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $30.89.

BOX Stock Performance

The stock has a market cap of $4.74 billion, a PE ratio of 45.01 and a beta of 0.86. The company’s 50 day simple moving average is $27.75 and its 200 day simple moving average is $27.25.

BOX (NYSE:BOX) last posted its quarterly earnings data on Tuesday, August 27th. The software maker reported $0.44 EPS for the quarter, beating the consensus estimate of $0.40 by $0.04. BOX had a net margin of 13.94% and a negative return on equity of 14.41%. The firm had revenue of $270.04 million during the quarter, compared to analyst estimates of $269.52 million. During the same quarter last year, the business posted $0.01 EPS. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. Equities research analysts expect that Box, Inc. will post 0.2 earnings per share for the current year.

Insider Transactions at BOX

In related news, CEO Aaron Levie sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $26.26, for a total value of $262,600.00. Following the completion of the transaction, the chief executive officer now directly owns 3,019,155 shares of the company’s stock, valued at approximately $79,283,010.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other BOX news, Director Bethany Mayer sold 4,760 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $26.48, for a total value of $126,044.80. Following the completion of the transaction, the director now directly owns 58,731 shares of the company’s stock, valued at approximately $1,555,196.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Aaron Levie sold 10,000 shares of the firm’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $26.26, for a total transaction of $262,600.00. Following the completion of the transaction, the chief executive officer now directly owns 3,019,155 shares of the company’s stock, valued at $79,283,010.30. The disclosure for this sale can be found here. Insiders sold a total of 66,560 shares of company stock worth $1,785,200 in the last quarter. Insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of BOX. Vanguard Group Inc. boosted its holdings in BOX by 14.9% in the 1st quarter. Vanguard Group Inc. now owns 17,313,882 shares of the software maker’s stock valued at $490,329,000 after purchasing an additional 2,249,082 shares during the period. UBS Group AG raised its position in BOX by 404.3% in the 4th quarter. UBS Group AG now owns 1,001,086 shares of the software maker’s stock worth $25,638,000 after purchasing an additional 802,564 shares during the period. Principal Financial Group Inc. raised its position in BOX by 4,889.2% in the 1st quarter. Principal Financial Group Inc. now owns 813,234 shares of the software maker’s stock worth $23,031,000 after purchasing an additional 796,934 shares during the period. Sivia Capital Partners LLC purchased a new position in BOX in the 4th quarter worth $19,606,000. Finally, Earnest Partners LLC raised its position in BOX by 10.5% in the 1st quarter. Earnest Partners LLC now owns 7,340,474 shares of the software maker’s stock worth $207,882,000 after purchasing an additional 699,882 shares during the period. 86.74% of the stock is owned by 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.