Box, Inc. (BOX) Lowered to “Hold” at BidaskClub

BidaskClub cut shares of Box, Inc. (NYSE:BOX) from a buy rating to a hold rating in a research note issued to investors on Tuesday morning.

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

Box (NYSE:BOX) traded down 2.551% during midday trading on Tuesday, hitting $18.525. The stock had a trading volume of 621,383 shares. The firm’s market capitalization is $2.44 billion. The firm has a 50-day moving average of $18.88 and a 200 day moving average of $17.84. Box has a 52-week low of $11.67 and a 52-week high of $20.91.

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

In other Box news, Director Rory O’driscoll sold 671,186 shares of the business’s stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $18.48, for a total transaction of $12,403,517.28. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Daniel J. Levin sold 40,000 shares of the business’s stock in a transaction dated 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 owns 3,752 shares in the company, valued at approximately $68,586.56. The disclosure for this sale can be found here. Insiders sold 1,768,934 shares of company stock valued at $33,066,666 in the last ninety days. Corporate insiders own 20.59% of the company’s stock.

Several institutional investors have recently modified their holdings of BOX. Rhumbline Advisers increased its position in Box by 65.9% in the second quarter. Rhumbline Advisers now owns 86,907 shares of the software maker’s stock worth $1,585,000 after buying an additional 34,530 shares in the last quarter. First Trust Advisors LP boosted its stake in shares of Box by 32.2% in the second quarter. First Trust Advisors LP now owns 2,859,338 shares of the software maker’s stock worth $52,154,000 after buying an additional 697,214 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its stake in shares of Box by 42.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 314,254 shares of the software maker’s stock worth $5,732,000 after buying an additional 92,913 shares during the last quarter. Trexquant Investment LP boosted its stake in shares of Box by 77.1% in the second quarter. Trexquant Investment LP now owns 56,000 shares of the software maker’s stock worth $1,021,000 after buying an additional 24,386 shares during the last quarter. Finally, Stoneridge Investment Partners LLC bought a new stake in shares of Box during the second quarter worth about $470,000. Institutional investors own 36.57% 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.