UBS Group Boosts BOX (NYSE:BOX) Price Target to $34.00

BOX (NYSE:BOX) had its price target boosted by UBS Group from $31.00 to $34.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the software maker’s stock.

A number of other analysts have also recently commented on BOX. Oppenheimer reiterated an outperform rating and issued a $35.00 target price on shares of BOX in a research note on Wednesday, May 29th. Citigroup boosted their price objective on shares of BOX from $32.00 to $34.00 and gave the company a buy rating in a report on Wednesday. Monness Crespi & Hardt upgraded BOX to a hold rating in a research note on Friday, August 16th. StockNews.com upgraded BOX from a buy rating to a strong-buy rating in a research note on Thursday, August 15th. Finally, Morgan Stanley reduced their price objective on BOX from $32.00 to $30.00 and set an equal weight rating for the company in a research note on Wednesday, May 29th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $30.89.

BOX Trading Down 1.0 %

NYSE BOX opened at $32.60 on Wednesday. BOX has a 12-month low of $23.29 and a 12-month high of $33.36. The firm’s fifty day simple moving average is $27.34 and its two-hundred day simple moving average is $27.12. The firm has a market capitalization of $4.71 billion, a P/E ratio of 44.66 and a beta of 0.86.

BOX (NYSE:BOX) last announced its earnings results on Tuesday, August 27th. The software maker reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.04. The firm had revenue of $270.04 million for the quarter, compared to the consensus estimate of $269.52 million. BOX had a negative return on equity of 11.71% and a net margin of 13.13%. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.01 EPS. As a group, sell-side analysts predict that BOX will post 0.19 earnings per share for the current fiscal year.

Insider Buying and Selling at BOX

In other news, CFO Dylan C. Smith sold 13,000 shares of BOX stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $26.38, for a total transaction of $342,940.00. Following the completion of the transaction, the chief financial officer now directly owns 1,552,912 shares of the company’s stock, valued at approximately $40,965,818.56. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other BOX news, Director Jack R. Lazar sold 7,000 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $32.68, for a total transaction of $228,760.00. Following the transaction, the director now owns 29,197 shares in the company, valued at $954,157.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Dylan C. Smith sold 13,000 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $26.38, for a total value of $342,940.00. Following the completion of the sale, the chief financial officer now directly owns 1,552,912 shares in the company, valued at $40,965,818.56. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,560 shares of company stock valued at $1,785,200. 4.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On BOX

Institutional investors have recently added to or reduced their stakes in the stock. Quarry LP lifted its holdings in BOX by 324.6% during the second quarter. Quarry LP now owns 1,418 shares of the software maker’s stock valued at $37,000 after purchasing an additional 1,084 shares in the last quarter. TFO Wealth Partners LLC increased its stake in shares of BOX by 62,000.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,863 shares of the software maker’s stock worth $48,000 after purchasing an additional 1,860 shares in the last quarter. a16z Perennial Management L.P. acquired a new position in shares of BOX during the 4th quarter worth about $48,000. Toronto Dominion Bank purchased a new position in BOX in the 2nd quarter valued at about $53,000. Finally, Nisa Investment Advisors LLC increased its stake in BOX by 31.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,627 shares of the software maker’s stock worth $69,000 after buying an additional 632 shares in the last quarter. 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.