BOX (NYSE:BOX) Sets New 12-Month High – What’s Next?

Box, Inc. (NYSE:BOX)’s stock price reached a new 52-week high during trading on Monday . The stock traded as high as $35.17 and last traded at $35.17, with a volume of 2383 shares traded. The stock had previously closed at $34.28.

Analysts Set New Price Targets

A number of analysts have recently weighed in on BOX shares. Citigroup upped their price objective on BOX from $32.00 to $34.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. William Blair restated an “outperform” rating on shares of BOX in a report on Thursday, November 14th. Morgan Stanley lifted their price objective on BOX from $30.00 to $33.00 and gave the company an “equal weight” rating in a research note on Thursday, September 5th. Royal Bank of Canada restated an “underperform” rating and set a $21.00 target price on shares of BOX in a research note on Wednesday, August 28th. Finally, UBS Group increased their price objective on shares of BOX from $31.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, BOX has an average rating of “Moderate Buy” and a consensus target price of $31.22.

BOX Stock Performance

The business has a 50-day simple moving average of $32.77 and a two-hundred day simple moving average of $29.42. The company has a market capitalization of $4.97 billion, a price-to-earnings ratio of 43.39 and a beta of 0.85.

BOX (NYSE:BOX) last issued its quarterly 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 during the quarter, compared to the consensus estimate of $269.52 million. BOX had a negative return on equity of 14.41% and a net margin of 13.94%. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period last year, the company earned $0.01 earnings per share. Research analysts predict that Box, Inc. will post 0.23 EPS for the current fiscal year.

Insider Activity

In other BOX news, Director Jack R. Lazar sold 7,000 shares of the business’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $32.68, for a total transaction of $228,760.00. Following the sale, the director now directly owns 29,197 shares in the company, valued at approximately $954,157.96. The trade was a 19.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Aaron Levie sold 10,000 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $32.92, for a total transaction of $329,200.00. Following the transaction, the chief executive officer now directly owns 3,009,155 shares in the company, valued at approximately $99,061,382.60. This trade represents a 0.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 58,500 shares of company stock valued at $1,939,895 over the last quarter. Corporate insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On BOX

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. American International Group Inc. increased its stake in BOX by 8.6% in the 1st quarter. American International Group Inc. now owns 76,185 shares of the software maker’s stock valued at $2,158,000 after purchasing an additional 6,062 shares in the last quarter. Lazard Asset Management LLC raised its stake in shares of BOX by 358.3% during the 1st quarter. Lazard Asset Management LLC now owns 7,842 shares of the software maker’s stock worth $221,000 after buying an additional 6,131 shares during the last quarter. Tidal Investments LLC purchased a new stake in shares of BOX in the 1st quarter worth about $391,000. Comerica Bank grew its stake in BOX by 964.7% in the 1st quarter. Comerica Bank now owns 85,081 shares of the software maker’s stock valued at $2,409,000 after acquiring an additional 77,090 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky purchased a new position in BOX during the 1st quarter valued at about $1,096,000. 86.74% of the stock is currently owned by institutional investors and hedge funds.

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.