BOX’s (BOX) Underperform Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reissued their underperform rating on shares of BOX (NYSE:BOX) in a report published on Wednesday, Benzinga reports. The firm currently has a $21.00 target price on the software maker’s stock.

A number of other research analysts also recently commented on BOX. Morgan Stanley reduced their price objective on shares of BOX from $32.00 to $30.00 and set an equal weight rating on the stock in a research note on Wednesday, May 29th. UBS Group cut their price objective on BOX from $34.00 to $31.00 and set a buy rating on the stock in a research note on Wednesday, May 29th. Monness Crespi & Hardt raised BOX to a hold rating in a research report on Friday, August 16th. StockNews.com raised shares of BOX from a buy rating to a strong-buy rating in a report on Thursday, August 15th. Finally, Oppenheimer reaffirmed an outperform rating and issued a $35.00 price target on shares of BOX in a report on Wednesday, May 29th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $30.89.

BOX Stock Performance

Shares of NYSE:BOX opened at $32.60 on Wednesday. The company has a market cap of $4.71 billion, a P/E ratio of 44.66 and a beta of 0.86. BOX has a one year low of $23.29 and a one year high of $33.36. The business’s 50-day simple moving average is $27.34 and its 200 day simple moving average is $27.12.

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, beating analysts’ consensus estimates of $0.40 by $0.04. The business had revenue of $270.04 million during the quarter, compared to analyst estimates of $269.52 million. BOX had a net margin of 13.13% and a negative return on equity of 11.71%. The business’s revenue was up 3.3% on a year-over-year basis. During the same period last year, the business earned $0.01 EPS. Analysts predict that BOX will post 0.19 earnings per share for the current year.

Insider Transactions at BOX

In other news, CEO Aaron Levie sold 10,000 shares of the business’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $26.26, for a total value of $262,600.00. Following the sale, the chief executive officer now owns 3,019,155 shares of the company’s stock, valued at approximately $79,283,010.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other BOX news, CFO Dylan C. Smith sold 13,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 1,552,912 shares in the company, valued at $40,965,818.56. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Aaron Levie sold 10,000 shares of the business’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 transaction of $262,600.00. Following the sale, the chief executive officer now owns 3,019,155 shares in the company, valued at approximately $79,283,010.30. The disclosure for this sale can be found here. In the last three months, insiders sold 66,560 shares of company stock valued at $1,785,200. Company insiders own 4.10% of the company’s stock.

Institutional Trading of BOX

A number of hedge funds have recently modified their holdings of the business. Brio Consultants LLC purchased a new position in shares of BOX during the fourth quarter valued at $1,016,000. Russell Investments Group Ltd. boosted its position in BOX by 10.3% during the fourth quarter. Russell Investments Group Ltd. now owns 492,333 shares of the software maker’s stock valued at $12,619,000 after purchasing an additional 45,971 shares during the last quarter. a16z Perennial Management L.P. acquired a new position in BOX in the fourth quarter worth approximately $48,000. Fisher Asset Management LLC raised its position in BOX by 9.9% during the fourth quarter. Fisher Asset Management LLC now owns 143,136 shares of the software maker’s stock valued at $3,666,000 after acquiring an additional 12,890 shares in the last quarter. Finally, Natixis Advisors L.P. boosted its holdings in BOX by 81.5% in the fourth quarter. Natixis Advisors L.P. now owns 193,887 shares of the software maker’s stock worth $4,965,000 after purchasing an additional 87,050 shares in the last quarter. Hedge funds and other institutional investors own 86.74% of the company’s stock.

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.