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

BOX (NYSE:BOX)‘s stock had its “underperform” rating restated by analysts at Royal Bank of Canada in a report issued on Wednesday,Benzinga reports. They currently have a $21.00 target price on the software maker’s stock. Royal Bank of Canada’s price target suggests a potential downside of 34.54% from the company’s previous close.

A number of other analysts have also recently commented on the stock. Citigroup upped their price target on shares of BOX from $34.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday. Monness Crespi & Hardt raised BOX to a “hold” rating in a report on Friday, August 16th. William Blair reiterated an “outperform” rating on shares of BOX in a research note on Thursday, November 14th. StockNews.com raised BOX from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 15th. Finally, UBS Group lifted their target price on BOX from $34.00 to $42.00 and gave the company a “buy” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $33.11.

BOX Stock Down 6.8 %

BOX traded down $2.34 during trading hours on Wednesday, hitting $32.08. The stock had a trading volume of 2,431,916 shares, compared to its average volume of 1,993,953. BOX has a 1 year low of $23.29 and a 1 year high of $35.74. The company’s fifty day simple moving average is $33.07 and its 200 day simple moving average is $29.84. The stock has a market cap of $4.59 billion, a PE ratio of 40.61 and a beta of 0.86.

Insiders Place Their Bets

In other news, CEO Aaron Levie sold 10,000 shares of BOX stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $32.92, for a total value of $329,200.00. Following the transaction, the chief executive officer now owns 3,009,155 shares in the company, valued at approximately $99,061,382.60. The trade was a 0.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Dylan C. Smith sold 13,000 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $32.89, for a total value of $427,570.00. Following the sale, the chief financial officer now owns 1,500,661 shares of the company’s stock, valued at $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. Insiders sold a total of 51,500 shares of company stock valued at $1,711,135 over the last quarter. 4.10% of the stock is owned by corporate insiders.

Institutional Trading of BOX

A number of institutional investors have recently modified their holdings of the company. Franklin Resources Inc. boosted its holdings in BOX by 8.2% in the third quarter. Franklin Resources Inc. now owns 21,823 shares of the software maker’s stock valued at $712,000 after acquiring an additional 1,646 shares in the last quarter. Sanctuary Advisors LLC lifted its holdings in shares of BOX by 24.5% during the third quarter. Sanctuary Advisors LLC now owns 35,352 shares of the software maker’s stock valued at $1,212,000 after purchasing an additional 6,965 shares during the last quarter. Coldstream Capital Management Inc. boosted its holdings in BOX by 13.1% in the third 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 in the last quarter. Geode Capital Management LLC grew its position in 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 last quarter. Finally, MML Investors Services LLC purchased a new stake in shares of BOX during the third quarter valued at approximately $266,000. 86.74% of the stock is currently owned by hedge funds and other institutional investors.

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.