Box Inc. (BOX) Given “Buy” Rating at Drexel Hamilton
Other research analysts have also recently issued research reports about the stock. Bank of America Corp. restated a buy rating and issued a $18.00 target price on shares of Box in a research report on Monday, August 22nd. Vetr cut shares of Box from a strong-buy rating to a buy rating and set a $14.11 target price for the company. in a research report on Monday, August 22nd. Canaccord Genuity restated a buy rating and issued a $17.00 target price on shares of Box in a research report on Tuesday, September 13th. Zacks Investment Research upgraded shares of Box from a hold rating to a buy rating and set a $16.00 target price for the company in a research report on Tuesday, September 13th. Finally, Rosenblatt Securities began coverage on shares of Box in a research report on Monday, September 26th. They issued a buy rating and a $25.00 target price for the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of Buy and a consensus target price of $17.95.
Box (NYSE:BOX) opened at 15.29 on Tuesday. Box has a 12 month low of $8.82 and a 12 month high of $16.59. The company’s 50 day moving average price is $14.84 and its 200 day moving average price is $13.05. The firm’s market capitalization is $1.94 billion.
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In other Box news, COO Daniel J. Levin sold 5,000 shares of the stock in a transaction that occurred on Tuesday, September 13th. The shares were sold at an average price of $14.44, for a total value of $72,200.00. Following the completion of the sale, the chief operating officer now owns 3,079 shares in the company, valued at approximately $44,460.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Jeff Mannie sold 3,756 shares of the stock in a transaction that occurred on Monday, September 26th. The stock was sold at an average price of $14.67, for a total transaction of $55,100.52. The disclosure for this sale can be found here. 22.30% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in the company. Carl Domino Inc increased its stake in Box by 33.3% in the second quarter. Carl Domino Inc now owns 24,000 shares of the company’s stock worth $248,000 after buying an additional 6,000 shares during the last quarter. Marcus Capital LLC increased its stake in Box by 0.6% in the second quarter. Marcus Capital LLC now owns 118,200 shares of the company’s stock worth $1,222,000 after buying an additional 700 shares during the last quarter. Stoneridge Investment Partners LLC bought a new stake in Box during the second quarter worth about $676,000. Bank of New York Mellon Corp increased its stake in Box by 93.6% in the second quarter. Bank of New York Mellon Corp now owns 158,830 shares of the company’s stock worth $1,642,000 after buying an additional 76,779 shares during the last quarter. Finally, California State Teachers Retirement System increased its stake in Box by 268.5% in the second quarter. California State Teachers Retirement System now owns 102,363 shares of the company’s stock worth $1,058,000 after buying an additional 74,585 shares during the last quarter. Institutional investors own 27.58% of the company’s stock.
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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