265,976 Shares in Box, Inc. (NYSE:BOX) Bought by Raymond James Financial Inc.

Raymond James Financial Inc. purchased a new stake in shares of Box, Inc. (NYSE:BOX - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 265,976 shares of the software maker's stock, valued at approximately $8,405,000. Raymond James Financial Inc. owned approximately 0.19% of BOX at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Martingale Asset Management L P grew its holdings in BOX by 12.0% in the 4th quarter. Martingale Asset Management L P now owns 85,194 shares of the software maker's stock valued at $2,692,000 after buying an additional 9,105 shares in the last quarter. Abacus FCF Advisors LLC increased its holdings in shares of BOX by 46.5% in the 4th quarter. Abacus FCF Advisors LLC now owns 105,126 shares of the software maker's stock valued at $3,322,000 after acquiring an additional 33,356 shares during the last quarter. Renaissance Technologies LLC raised its stake in BOX by 11.8% during the 4th quarter. Renaissance Technologies LLC now owns 2,205,926 shares of the software maker's stock worth $69,707,000 after acquiring an additional 233,100 shares in the last quarter. Bank of Montreal Can increased its position in BOX by 15.2% during the fourth quarter. Bank of Montreal Can now owns 368,299 shares of the software maker's stock worth $11,638,000 after buying an additional 48,573 shares during the period. Finally, Federated Hermes Inc. raised its holdings in shares of BOX by 49.9% in the fourth quarter. Federated Hermes Inc. now owns 135,176 shares of the software maker's stock valued at $4,272,000 after buying an additional 45,002 shares during the last quarter. 86.74% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at BOX

In related news, CEO Aaron Levie sold 10,000 shares of the company's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $32.08, for a total value of $320,800.00. Following the completion of the sale, the chief executive officer now owns 2,979,780 shares in the company, valued at $95,591,342.40. This represents a 0.33 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Olivia Nottebohm sold 6,079 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $34.42, for a total value of $209,239.18. Following the sale, the chief operating officer now directly owns 440,988 shares of the company's stock, valued at approximately $15,178,806.96. The trade was a 1.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,917 shares of company stock worth $2,135,905. 4.10% of the stock is owned by corporate insiders.

BOX Stock Performance

BOX stock opened at $29.80 on Wednesday. Box, Inc. has a twelve month low of $24.63 and a twelve month high of $35.74. The firm's 50 day moving average price is $31.42 and its two-hundred day moving average price is $32.30. The firm has a market cap of $4.29 billion, a PE ratio of 37.25, a P/E/G ratio of 4.42 and a beta of 0.96.

BOX announced that its Board of Directors has initiated a share repurchase program on Tuesday, March 4th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the software maker to reacquire up to 3.1% of its stock through open market purchases. Stock buyback programs are often an indication that the company's leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

BOX has been the subject of several recent analyst reports. Raymond James reissued an "outperform" rating and issued a $38.00 price target (down from $40.00) on shares of BOX in a report on Wednesday, March 5th. Royal Bank of Canada reiterated an "underperform" rating and set a $21.00 target price on shares of BOX in a report on Wednesday, March 19th. Morgan Stanley cut their price objective on shares of BOX from $36.00 to $35.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. DA Davidson decreased their price target on BOX from $45.00 to $40.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Finally, JPMorgan Chase & Co. decreased their price target on shares of BOX from $38.00 to $37.00 and set an "overweight" rating on the stock in a report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $36.44.

BOX Profile

Box, Inc engages in the provision of an enterprise content platform that enables organizations to securely manage enterprise content while allowing easy, secure access and sharing of this content from anywhere, on any device. Its products include cloud content management, IT and admin controls, Box Governance, Box Zones, Box Relay, Box Shuttle, and Box KeySafe.

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