Amundi Purchases 49,780 Shares of Box, Inc. (NYSE:BOX)

Amundi boosted its position in Box, Inc. (NYSE:BOX - Free Report) by 41.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 170,619 shares of the software maker's stock after purchasing an additional 49,780 shares during the quarter. Amundi owned about 0.12% of BOX worth $5,344,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fisher Asset Management LLC raised its holdings in shares of BOX by 420.6% during the fourth quarter. Fisher Asset Management LLC now owns 857,498 shares of the software maker's stock valued at $27,097,000 after acquiring an additional 692,784 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of BOX during the 4th quarter worth about $8,405,000. Congress Asset Management Co. grew its position in BOX by 17.5% in the fourth quarter. Congress Asset Management Co. now owns 1,659,646 shares of the software maker's stock worth $52,445,000 after acquiring an additional 246,993 shares in the last quarter. Beacon Harbor Wealth Advisors Inc. bought a new stake in BOX in the fourth quarter worth $5,997,000. Finally, Los Angeles Capital Management LLC boosted its stake in shares of BOX by 629.1% during the 4th quarter. Los Angeles Capital Management LLC now owns 161,865 shares of the software maker's stock worth $5,115,000 after acquiring an additional 139,664 shares in the last quarter. 86.74% of the stock is currently owned by institutional investors and hedge funds.

BOX Trading Down 1.0 %

Shares of BOX stock traded down $0.32 on Tuesday, hitting $30.67. 138,909 shares of the company traded hands, compared to its average volume of 1,744,510. The company has a market cap of $4.41 billion, a P/E ratio of 38.30, a P/E/G ratio of 4.42 and a beta of 1.00. The firm's 50-day simple moving average is $32.78 and its 200 day simple moving average is $32.76. Box, Inc. has a 12-month low of $24.63 and a 12-month high of $35.74.

Remove Ads

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

Insider Activity

In related news, CFO Dylan C. Smith sold 13,000 shares of the company's stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $31.05, for a total value of $403,650.00. Following the transaction, the chief financial officer now owns 1,466,684 shares in the company, valued at $45,540,538.20. The trade was a 0.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Olivia Nottebohm sold 12,414 shares of the business's stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $31.85, for a total value of $395,385.90. Following the completion of the transaction, the chief operating officer now directly owns 453,146 shares of the company's stock, valued at approximately $14,432,700.10. This trade represents a 2.67 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 78,363 shares of company stock valued at $2,533,374. 4.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Bank of America began coverage on BOX in a research note on Thursday, December 12th. They issued a "buy" rating and a $40.00 price objective on the stock. JPMorgan Chase & Co. lowered their price objective on BOX from $38.00 to $37.00 and set an "overweight" rating on the stock in a research note on Wednesday, March 5th. Citigroup raised their price objective on shares of BOX from $34.00 to $40.00 and gave the stock a "buy" rating in a report on Wednesday, December 4th. Raymond James reaffirmed an "outperform" rating and issued a $38.00 target price (down from $40.00) on shares of BOX in a research note on Wednesday, March 5th. Finally, DA Davidson started coverage on BOX in a report on Wednesday, December 18th. They issued a "buy" rating and a $45.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $36.60.

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.