Alliancebernstein L.P. Boosts Holdings in Box, Inc. (NYSE:BOX)

Alliancebernstein L.P. boosted its stake in shares of Box, Inc. (NYSE:BOX - Free Report) by 52.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 289,179 shares of the software maker's stock after acquiring an additional 99,609 shares during the quarter. Alliancebernstein L.P. owned about 0.20% of BOX worth $9,138,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BOX. Smartleaf Asset Management LLC increased its stake in BOX by 715.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,162 shares of the software maker's stock worth $69,000 after purchasing an additional 1,897 shares during the period. Farther Finance Advisors LLC boosted its position in BOX by 19.3% in the 4th quarter. Farther Finance Advisors LLC now owns 2,579 shares of the software maker's stock valued at $81,000 after buying an additional 417 shares during the period. SBI Securities Co. Ltd. bought a new position in BOX in the 4th quarter worth about $132,000. Plato Investment Management Ltd purchased a new position in shares of BOX during the fourth quarter worth approximately $134,000. Finally, KBC Group NV increased its holdings in BOX by 35.7% during the 4th quarter. KBC Group NV now owns 5,403 shares of the software maker's stock worth $171,000 after purchasing an additional 1,420 shares during the period. 86.74% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at BOX

In related news, VP Eli Berkovitch sold 2,750 shares of the firm's stock in a transaction on Thursday, April 10th. The shares were sold at an average price of $29.58, for a total transaction of $81,345.00. Following the sale, the vice president now owns 121,922 shares in the company, valued at approximately $3,606,452.76. This trade represents a 2.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Olivia Nottebohm sold 6,079 shares of the firm's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $34.42, for a total value of $209,239.18. Following the sale, the chief operating officer now owns 440,988 shares in the company, valued at $15,178,806.96. This trade represents a 1.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 72,996 shares of company stock valued at $2,329,886. 4.10% of the stock is owned by insiders.

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BOX Stock Performance

BOX stock traded up $0.25 during midday trading on Wednesday, reaching $30.20. The stock had a trading volume of 226,519 shares, compared to its average volume of 1,812,925. The firm has a fifty day simple moving average of $31.93 and a two-hundred day simple moving average of $32.38. The stock has a market cap of $4.34 billion, a PE ratio of 37.70, a P/E/G ratio of 4.42 and a beta of 0.96. Box, Inc. has a 52-week low of $24.63 and a 52-week high of $35.74.

BOX announced that its Board of Directors has approved a stock buyback program on Tuesday, March 4th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the software maker to purchase up to 3.1% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its shares are undervalued.

Analysts Set New Price Targets

BOX has been the topic of several research reports. StockNews.com lowered BOX from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, January 8th. Raymond James reiterated an "outperform" rating and set a $38.00 price objective (down from $40.00) on shares of BOX in a research note on Wednesday, March 5th. JPMorgan Chase & Co. lowered their target price on BOX from $38.00 to $37.00 and set an "overweight" rating for the company in a report on Wednesday, March 5th. Royal Bank of Canada reissued an "underperform" rating and issued a $21.00 price target on shares of BOX in a research report on Wednesday, March 19th. Finally, DA Davidson reduced their target price on shares of BOX from $45.00 to $40.00 and set a "buy" rating for the company in a report on Monday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $36.56.

BOX Company 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.