Box, Inc. (NYSE:BOX) Shares Bought by Abacus FCF Advisors LLC

Abacus FCF Advisors LLC increased its holdings in shares of Box, Inc. (NYSE:BOX - Free Report) by 46.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 105,126 shares of the software maker's stock after acquiring an additional 33,356 shares during the period. Abacus FCF Advisors LLC owned about 0.07% of BOX worth $3,322,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. State Street Corp boosted its position in BOX by 1.2% in the 3rd quarter. State Street Corp now owns 5,623,032 shares of the software maker's stock valued at $184,042,000 after buying an additional 69,107 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in shares of BOX by 103.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,386,370 shares of the software maker's stock valued at $107,009,000 after acquiring an additional 1,725,197 shares in the last quarter. Sei Investments Co. raised its stake in shares of BOX by 8.4% during the fourth quarter. Sei Investments Co. now owns 3,286,619 shares of the software maker's stock valued at $103,857,000 after acquiring an additional 255,623 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of BOX by 0.4% in the third quarter. Geode Capital Management LLC now owns 3,249,823 shares of the software maker's stock valued at $106,387,000 after purchasing an additional 13,028 shares during the period. Finally, Renaissance Technologies LLC grew its stake in BOX by 11.8% in the fourth quarter. Renaissance Technologies LLC now owns 2,205,926 shares of the software maker's stock worth $69,707,000 after purchasing an additional 233,100 shares in the last quarter. Hedge funds and other institutional investors own 86.74% of the company's stock.

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Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. decreased their target price on BOX from $38.00 to $37.00 and set an "overweight" rating for the company in a research report on Wednesday, March 5th. Raymond James reaffirmed an "outperform" rating and issued a $38.00 price objective (down from $40.00) on shares of BOX in a research note on Wednesday, March 5th. Royal Bank of Canada reissued an "underperform" rating and set a $21.00 target price on shares of BOX in a research report on Wednesday, March 19th. DA Davidson restated a "buy" rating and issued a $45.00 price target on shares of BOX in a report on Wednesday, March 19th. Finally, StockNews.com downgraded shares of BOX from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, January 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $37.11.

Insider Transactions at BOX

In related news, COO Olivia Nottebohm sold 6,079 shares of the company's stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $31.91, for a total transaction of $193,980.89. Following the transaction, the chief operating officer now directly owns 447,067 shares of the company's stock, valued at $14,265,907.97. This represents a 1.34 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Eli Berkovitch sold 5,651 shares of the stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $30.66, for a total value of $173,259.66. Following the completion of the sale, the vice president now owns 124,672 shares of the company's stock, valued at approximately $3,822,443.52. This trade represents a 4.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 57,246 shares of company stock valued at $1,862,181. Corporate insiders own 4.10% of the company's stock.

BOX Stock Performance

NYSE:BOX traded up $0.19 during midday trading on Friday, reaching $30.21. 1,380,204 shares of the stock traded hands, compared to its average volume of 1,820,440. The stock has a market capitalization of $4.34 billion, a PE ratio of 37.76, a price-to-earnings-growth ratio of 4.42 and a beta of 0.96. Box, Inc. has a 12-month low of $24.63 and a 12-month high of $35.74. The business has a 50-day moving average of $32.10 and a two-hundred day moving average of $32.41.

BOX declared that its Board of Directors has initiated a share buyback plan on Tuesday, March 4th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the software maker to buy up to 3.1% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its stock is undervalued.

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.