Drexel Hamilton Reiterates Buy Rating for Box Inc. (BOX)
Box Inc. (NYSE:BOX)‘s stock had its “buy” rating reiterated by investment analysts at Drexel Hamilton in a research note issued on Tuesday. They presently have a $18.00 price objective on the stock. Drexel Hamilton’s price objective indicates a potential upside of 17.72% from the stock’s previous close.
Several other research firms have also recently weighed in on BOX. Stifel Nicolaus reiterated a “hold” rating and set a $15.00 price objective on shares of Box in a research report on Monday, October 10th. Vetr cut shares of Box from a “strong-buy” rating to a “buy” rating and set a $17.18 price target on the stock. in a report on Thursday, November 24th. JMP Securities restated a “buy” rating on shares of Box in a report on Monday, November 21st. Pacific Crest restated a “buy” rating and set a $21.00 price target on shares of Box in a report on Friday, September 30th. Finally, Mitsubishi UFJ Financial Group assumed coverage on shares of Box in a report on Friday, September 16th. They set a “neutral” rating and a $15.00 price target on the stock. One analyst has rated the stock with a sell rating, five have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $17.95.
Box (NYSE:BOX) traded down 1.29% on Tuesday, reaching $15.29. The company’s stock had a trading volume of 659,977 shares. The company’s market capitalization is $1.94 billion. The stock has a 50 day moving average price of $14.84 and a 200-day moving average price of $13.05. Box has a 1-year low of $8.82 and a 1-year high of $16.59.
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In other news, VP Jeff Mannie sold 3,756 shares of the company’s stock in a transaction dated Monday, September 26th. The shares were sold at an average price of $14.67, for a total transaction of $55,100.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Daniel J. Levin sold 5,000 shares of the company’s stock in a transaction dated Tuesday, October 4th. The shares were sold at an average price of $16.38, for a total transaction of $81,900.00. Following the transaction, the chief operating officer now directly owns 3,752 shares of the company’s stock, valued at approximately $61,457.76. The disclosure for this sale can be found here. Company insiders own 22.30% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in BOX. BlackRock Group LTD raised its position in shares of Box by 6.3% in the third quarter. BlackRock Group LTD now owns 10,127 shares of the company’s stock worth $160,000 after buying an additional 603 shares in the last quarter. Parametric Portfolio Associates LLC bought a new position in shares of Box during the second quarter worth approximately $108,000. Capstone Investment Advisors LLC bought a new position in shares of Box during the second quarter worth approximately $129,000. K.J. Harrison & Partners Inc bought a new position in shares of Box during the third quarter worth approximately $252,000. Finally, Ameriprise Financial Inc. bought a new position in shares of Box during the third quarter worth approximately $280,000. 27.58% of the stock is owned by institutional investors and hedge funds.
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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