BOX (NYSE:BOX) Sets New 12-Month High at $33.56

Box, Inc. (NYSE:BOX)’s stock price reached a new 52-week high during trading on Monday . The stock traded as high as $33.56 and last traded at $33.31, with a volume of 80107 shares trading hands. The stock had previously closed at $33.29.

Wall Street Analyst Weigh In

BOX has been the topic of a number of recent analyst reports. Royal Bank of Canada reiterated an “underperform” rating and issued a $21.00 price objective on shares of BOX in a report on Wednesday, August 28th. Morgan Stanley raised their price target on BOX from $30.00 to $33.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 5th. Monness Crespi & Hardt upgraded shares of BOX to a “hold” rating in a research report on Friday, August 16th. Oppenheimer restated an “outperform” rating and set a $35.00 price objective on shares of BOX in a research report on Wednesday, May 29th. Finally, Citigroup boosted their price target on shares of BOX from $32.00 to $34.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. One analyst has rated the stock with a sell rating, two have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $31.22.

BOX Stock Performance

The company has a 50-day moving average of $28.83 and a 200-day moving average of $27.69. The stock has a market capitalization of $4.83 billion, a price-to-earnings ratio of 45.79 and a beta of 0.85.

BOX (NYSE:BOX) last released its quarterly earnings results on Tuesday, August 27th. The software maker reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.04. The company had revenue of $270.04 million during the quarter, compared to analysts’ expectations of $269.52 million. BOX had a negative return on equity of 14.41% and a net margin of 13.94%. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.01 earnings per share. As a group, analysts expect that Box, Inc. will post 0.23 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Jack R. Lazar sold 7,000 shares of the company’s stock in a transaction that occurred 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 transaction, the director now owns 29,197 shares of the company’s stock, valued at $954,157.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Jack R. Lazar sold 7,000 shares of the firm’s stock in a transaction 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 sale, the director now owns 29,197 shares in the company, valued at $954,157.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Aaron Levie sold 10,000 shares of the company’s stock in a transaction 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 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 have sold 73,260 shares of company stock valued at $2,113,560 in the last ninety days. Insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Quarry LP grew its position 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 acquiring an additional 1,084 shares during the period. TFO Wealth Partners LLC grew its holdings in shares of BOX by 62,000.0% during the 4th 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 during the period. Toronto Dominion Bank purchased a new stake in shares of BOX during the 2nd quarter worth about $53,000. Nisa Investment Advisors LLC increased its position 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 purchasing an additional 632 shares in the last quarter. Finally, Quest Partners LLC purchased a new position in BOX in the second quarter valued at approximately $95,000. 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.