Box, Inc. (BOX) Downgraded by BidaskClub

BidaskClub downgraded shares of Box, Inc. (NYSE:BOX) from a buy rating to a hold rating in a report issued on Tuesday, August 1st.

A number of other research firms also recently weighed in on BOX. Drexel Hamilton reaffirmed a buy rating and set a $28.00 price target on shares of Box in a research note on Tuesday, June 27th. Rosenblatt Securities reaffirmed a buy rating and set a $25.00 price target on shares of Box in a research note on Monday, June 26th. Morgan Stanley reaffirmed an equal weight rating and set a $20.00 price target (up from $19.00) on shares of Box in a research note on Thursday, June 1st. Wells Fargo & Company reaffirmed an outperform rating and set a $27.00 price target (up from $24.00) on shares of Box in a research note on Thursday, June 1st. Finally, Mitsubishi UFJ Financial Group raised Box from a neutral rating to an overweight rating and raised their price target for the stock from $17.50 to $23.00 in a research note on Thursday, June 1st. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Box currently has a consensus rating of Buy and a consensus price target of $22.24.

Box (NYSE BOX) traded up 0.86% during mid-day trading on Tuesday, reaching $18.75. The company’s stock had a trading volume of 768,852 shares. The firm’s market capitalization is $2.47 billion. Box has a 1-year low of $12.61 and a 1-year high of $20.91. The firm has a 50-day moving average of $18.82 and a 200 day moving average of $17.97.

Box (NYSE:BOX) last announced its quarterly earnings data on Wednesday, May 31st. The software maker reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.01. The firm had revenue of $117.20 million during the quarter, compared to the consensus estimate of $114.70 million. Box had a negative return on equity of 187.98% and a negative net margin of 36.01%. The business’s revenue for the quarter was up 29.9% on a year-over-year basis. During the same period in the prior year, the business earned ($0.18) EPS. Equities analysts expect that Box will post ($0.46) earnings per share for the current year.

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In other news, President Daniel J. Levin sold 20,000 shares of Box stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $18.60, for a total transaction of $372,000.00. Following the sale, the president now owns 3,752 shares of the company’s stock, valued at approximately $69,787.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Daniel J. Levin sold 40,000 shares of Box stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $18.28, for a total value of $731,200.00. Following the sale, the chief operating officer now directly owns 3,752 shares in the company, valued at approximately $68,586.56. The disclosure for this sale can be found here. Insiders have sold a total of 1,748,934 shares of company stock worth $32,700,266 in the last three months. 22.30% of the stock is owned by insiders.

Several institutional investors have recently bought and sold shares of BOX. Ameritas Investment Partners Inc. increased its position in Box by 81.3% in the second quarter. Ameritas Investment Partners Inc. now owns 6,896 shares of the software maker’s stock valued at $126,000 after buying an additional 3,092 shares during the period. Hillsdale Investment Management Inc. bought a new position in Box during the second quarter valued at approximately $155,000. Advisory Services Network LLC bought a new position in Box during the first quarter valued at approximately $142,000. BNP Paribas Arbitrage SA increased its position in Box by 843.7% in the second quarter. BNP Paribas Arbitrage SA now owns 9,786 shares of the software maker’s stock valued at $178,000 after buying an additional 8,749 shares during the period. Finally, StepStone Group LP bought a new position in Box during the second quarter valued at approximately $180,000. Institutional investors and hedge funds own 36.59% of the company’s stock.

Box Company Profile

Box, Inc provides an enterprise content management platform that enables organizations of all sizes to manage enterprise content while allowing access and sharing of this content from anywhere, on any device. With the Company’s Software-as-a-Service (SaaS) cloud-based platform, users can collaborate on content both internally and with external parties, automate content-driven business processes, develop custom applications, and implement data protection, security and compliance features to comply with internal policies and industry regulations.

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