Trading Report: Today, Vetr Inc. Downgraded Box Inc. (BOX) to Buy

Today, Vetr Inc. Downgraded Box Inc. (BOX) to Buy

Vetr cut shares of Box Inc. (NYSE:BOX) from a strong-buy rating to a buy rating in a research report released on Thursday. Vetr currently has $17.18 price objective on the stock.

BOX has been the topic of a number of other research reports. Zacks Investment Research upgraded shares of Box from a hold rating to a buy rating and set a $16.00 target price on the stock in a report on Tuesday, September 13th. Canaccord Genuity restated a buy rating and set a $17.00 target price on shares of Box in a report on Tuesday, September 13th. Bank of America Corp. restated a buy rating and set a $18.00 target price on shares of Box in a report on Monday, August 22nd. Drexel Hamilton restated a buy rating and set a $18.00 target price on shares of Box in a report on Friday, September 16th. Finally, Rosenblatt Securities assumed coverage on shares of Box in a report on Monday, September 26th. They set a buy rating and a $25.00 target price on the stock. One analyst has rated the stock with a sell rating, five have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of Buy and a consensus target price of $17.95.

Shares of Box (NYSE:BOX) opened at 15.49 on Thursday. The company’s 50-day moving average is $14.84 and its 200-day moving average is $13.05. Box has a 12-month low of $8.82 and a 12-month high of $16.59. The stock’s market cap is $1.96 billion.

In other news, COO Daniel J. Levin sold 5,000 shares of the company’s stock in a transaction dated Tuesday, September 6th. The shares were sold at an average price of $14.35, for a total transaction of $71,750.00. Following the completion of the sale, the chief operating officer now owns 3,079 shares of the company’s stock, valued at approximately $44,183.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 disclosure for this sale can be found here. Insiders own 22.30% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the stock. Peloton Wealth Strategists acquired a new stake in Box during the third quarter valued at approximately $1,278,000. Credit Suisse AG raised its stake in Box by 69.0% in the third quarter. Credit Suisse AG now owns 214,539 shares of the company’s stock valued at $3,381,000 after buying an additional 87,572 shares during the last quarter. D. E. Shaw & Co. Inc. acquired a new stake in Box during the third quarter valued at approximately $772,000. Gotham Asset Management LLC acquired a new stake in Box during the third quarter valued at approximately $463,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in Box during the third quarter valued at approximately $571,000. 27.58% of the stock is owned by hedge funds and other institutional investors.

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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