BOX (NYSE:BOX) Hits New 12-Month High – Here’s Why

Box, Inc. (NYSE:BOX) hit a new 52-week high during trading on Thursday . The stock traded as high as $34.03 and last traded at $33.95, with a volume of 28492 shares traded. The stock had previously closed at $33.55.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on BOX shares. StockNews.com upgraded BOX from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 15th. Royal Bank of Canada restated an “underperform” rating and issued a $21.00 target price on shares of BOX in a report on Wednesday, August 28th. Monness Crespi & Hardt upgraded shares of BOX to a “hold” rating in a report on Friday, August 16th. Citigroup raised their price target on shares of BOX from $32.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Finally, Morgan Stanley increased their target price on shares of BOX from $30.00 to $33.00 and gave the stock an “equal weight” rating in a report on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $31.22.

BOX Stock Performance

The stock has a 50-day moving average price of $32.49 and a two-hundred day moving average price of $28.79. The stock has a market capitalization of $4.87 billion, a PE ratio of 42.47 and a beta of 0.85.

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

Insiders Place Their Bets

In other news, Director Jack R. Lazar sold 7,000 shares of the company’s stock in a transaction that occurred 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 transaction, the director now owns 29,197 shares of the company’s stock, valued at approximately $954,157.96. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other BOX news, Director Jack R. Lazar sold 7,000 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $32.68, for a total value of $228,760.00. Following the transaction, the director now directly owns 29,197 shares in the company, valued at $954,157.96. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Dylan C. Smith sold 13,000 shares of BOX stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $27.05, for a total transaction of $351,650.00. Following the sale, the chief financial officer now directly owns 1,513,661 shares of the company’s stock, valued at $40,944,530.05. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 56,000 shares of company stock valued at $1,759,940 over the last 90 days. Insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On BOX

Several hedge funds have recently modified their holdings of BOX. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in BOX by 3.7% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 15,831 shares of the software maker’s stock worth $419,000 after buying an additional 560 shares in the last quarter. Connable Office Inc. raised its position in shares of BOX by 3.8% in the 2nd quarter. Connable Office Inc. now owns 15,707 shares of the software maker’s stock worth $415,000 after acquiring an additional 573 shares in the last quarter. Creative Planning lifted its stake in shares of BOX by 4.2% during the 3rd quarter. Creative Planning now owns 15,743 shares of the software maker’s stock worth $515,000 after purchasing an additional 631 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in 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 in the last quarter. Finally, Diversified Trust Co grew its stake in BOX by 2.9% in the second quarter. Diversified Trust Co now owns 26,980 shares of the software maker’s stock valued at $713,000 after purchasing an additional 768 shares during the last quarter. Hedge funds and other institutional investors own 86.74% of the company’s stock.

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.