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

Shares of Box, Inc. (NYSE:BOX) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $35.03 and last traded at $34.95, with a volume of 381013 shares changing hands. The stock had previously closed at $34.24.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Morgan Stanley upped their target price on BOX from $30.00 to $33.00 and gave the company an “equal weight” rating in a report on Thursday, September 5th. Royal Bank of Canada reaffirmed an “underperform” rating and issued a $21.00 target price on shares of BOX in a report on Wednesday, August 28th. StockNews.com raised BOX from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 15th. Citigroup increased their price objective on BOX from $32.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. Finally, UBS Group increased their price objective on BOX from $31.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $31.22.

BOX Price Performance

The stock has a fifty day moving average price of $32.62 and a 200 day moving average price of $29.00. The stock has a market capitalization of $4.97 billion, a P/E ratio of 44.32 and a beta of 0.85.

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

Insider Buying and Selling at BOX

In other BOX news, Director Jack R. Lazar sold 7,000 shares of the firm’s stock in a transaction dated 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. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Jack R. Lazar sold 7,000 shares of the firm’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $32.68, for a total value of $228,760.00. Following the sale, the director now directly owns 29,197 shares of the company’s stock, valued at $954,157.96. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Dylan C. Smith sold 13,000 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $32.89, for a total value of $427,570.00. Following the completion of the sale, the chief financial officer now directly owns 1,500,661 shares in the company, valued at $49,356,740.29. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 43,000 shares of company stock worth $1,408,290 over the last 90 days. Corporate insiders own 4.10% of the company’s stock.

Institutional Trading of BOX

Large investors have recently bought and sold shares of the company. GAMMA Investing LLC boosted its position in BOX by 143.1% during the 3rd quarter. GAMMA Investing LLC now owns 1,337 shares of the software maker’s stock valued at $44,000 after acquiring an additional 787 shares in the last quarter. Quarry LP lifted its holdings in shares of 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 during the last quarter. Toronto Dominion Bank purchased a new position in shares of BOX during the second quarter valued at approximately $53,000. Farther Finance Advisors LLC lifted its holdings in shares of BOX by 245.4% during the third quarter. Farther Finance Advisors LLC now owns 2,162 shares of the software maker’s stock valued at $71,000 after purchasing an additional 1,536 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of BOX by 31.7% during the second quarter. Nisa Investment Advisors LLC now owns 2,627 shares of the software maker’s stock valued at $69,000 after purchasing an additional 632 shares during the last quarter. 86.74% of the stock is owned by 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.