A number of other brokerages also recently issued reports on BOX. Drexel Hamilton reiterated a buy rating and set a $28.00 price target on shares of BOX in a research report on Monday, November 27th. JMP Securities lifted their price target on BOX to $25.00 and gave the company an outperform rating in a research report on Thursday. Vetr upgraded BOX from a buy rating to a strong-buy rating and set a $25.42 price target for the company in a research report on Wednesday. Mitsubishi UFJ Financial Group upgraded BOX to an overweight rating and lifted their price target for the company from $23.00 to $24.00 in a research report on Thursday, August 31st. Finally, Rosenblatt Securities reiterated a buy rating and set a $25.00 price target on shares of BOX in a research report on Friday, September 1st. Three research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of Buy and an average price target of $24.24.
Shares of BOX (NYSE:BOX) traded down $0.14 on Thursday, hitting $20.89. The stock had a trading volume of 2,830,126 shares, compared to its average volume of 1,835,378. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.58. BOX has a 12-month low of $13.56 and a 12-month high of $24.10.
In related news, CFO Dylan C. Smith sold 13,000 shares of the firm’s stock in a transaction dated Tuesday, October 10th. The stock was sold at an average price of $19.06, for a total transaction of $247,780.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Rory O’driscoll sold 233,066 shares of the firm’s stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of $18.41, for a total value of $4,290,745.06. The disclosure for this sale can be found here. Over the last three months, insiders have sold 969,534 shares of company stock worth $18,204,431. 22.30% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Jasper Ridge Partners L.P. raised its holdings in shares of BOX by 54.0% during the 2nd quarter. Jasper Ridge Partners L.P. now owns 40,783 shares of the software maker’s stock valued at $744,000 after buying an additional 14,305 shares in the last quarter. JPMorgan Chase & Co. increased its stake in BOX by 3,041.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,366,608 shares of the software maker’s stock worth $24,927,000 after purchasing an additional 1,323,099 shares during the period. Baltimore Washington Financial Advisors Inc. increased its stake in BOX by 12.1% in the 3rd quarter. Baltimore Washington Financial Advisors Inc. now owns 186,385 shares of the software maker’s stock worth $3,601,000 after purchasing an additional 20,160 shares during the period. State Street Corp increased its stake in BOX by 56.7% in the 2nd quarter. State Street Corp now owns 1,372,520 shares of the software maker’s stock worth $25,034,000 after purchasing an additional 496,588 shares during the period. Finally, Lucha Capital Management LP purchased a new position in BOX in the 2nd quarter worth approximately $7,200,000. 63.44% of the stock is currently owned by institutional investors.
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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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