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

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

Several other equities research analysts have also issued reports on BOX. UBS Group lifted their price objective on BOX from $34.00 to $42.00 and gave the company a “buy” rating in a research note on Wednesday. StockNews.com raised BOX from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 15th. Monness Crespi & Hardt raised BOX to a “hold” rating in a research note on Friday, August 16th. Morgan Stanley lifted their price target on BOX from $33.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Finally, Citigroup lifted their price objective on BOX from $34.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, BOX presently has an average rating of “Moderate Buy” and a consensus target price of $33.11.

BOX Price Performance

BOX stock opened at $31.79 on Wednesday. BOX has a one year low of $23.29 and a one year high of $35.74. The business has a fifty day moving average price of $33.07 and a 200-day moving average price of $29.84. The firm has a market capitalization of $4.55 billion, a P/E ratio of 40.24 and a beta of 0.86.

Insiders Place Their Bets

In other news, Director Jack R. Lazar sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $34.75, for a total value of $86,875.00. Following the sale, the director now directly owns 26,697 shares of the company’s stock, valued at $927,720.75. The trade was a 8.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Dylan C. Smith sold 13,000 shares of the business’s stock in a transaction that occurred on 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 approximately $49,356,740.29. This represents a 0.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 51,500 shares of company stock worth $1,711,135. Company insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On BOX

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Franklin Resources Inc. raised its stake in BOX by 8.2% during the 3rd quarter. Franklin Resources Inc. now owns 21,823 shares of the software maker’s stock valued at $712,000 after buying an additional 1,646 shares during the last quarter. Sanctuary Advisors LLC increased its holdings in BOX by 24.5% in the 3rd quarter. Sanctuary Advisors LLC now owns 35,352 shares of the software maker’s stock worth $1,212,000 after acquiring an additional 6,965 shares in the last quarter. Coldstream Capital Management Inc. raised its stake in BOX by 13.1% during the 3rd quarter. Coldstream Capital Management Inc. now owns 14,546 shares of the software maker’s stock worth $476,000 after acquiring an additional 1,690 shares during the period. Geode Capital Management LLC raised its position in shares of BOX by 0.4% during the 3rd quarter. Geode Capital Management LLC now owns 3,249,823 shares of the software maker’s stock valued at $106,387,000 after purchasing an additional 13,028 shares during the period. Finally, MML Investors Services LLC bought a new position in BOX in the 3rd quarter worth $266,000. 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.