Amundi Raises Position in Box, Inc. (NYSE:BOX)

Amundi boosted its position in shares of Box, Inc. (NYSE:BOX - Free Report) by 41.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 170,619 shares of the software maker's stock after acquiring an additional 49,780 shares during the quarter. Amundi owned 0.12% of BOX worth $5,344,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Edgestream Partners L.P. purchased a new stake in BOX during the fourth quarter valued at $2,671,000. Beacon Harbor Wealth Advisors Inc. purchased a new stake in BOX during the fourth quarter valued at $5,997,000. Raymond James Financial Inc. purchased a new stake in BOX during the fourth quarter valued at $8,405,000. Atria Investments Inc increased its position in BOX by 9.4% during the fourth quarter. Atria Investments Inc now owns 27,321 shares of the software maker's stock valued at $863,000 after acquiring an additional 2,352 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in BOX by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,399,629 shares of the software maker's stock valued at $44,228,000 after acquiring an additional 27,814 shares during the last quarter. Hedge funds and other institutional investors own 86.74% of the company's stock.

BOX Price Performance

Shares of NYSE BOX traded down $0.13 during mid-day trading on Tuesday, reaching $30.86. The company's stock had a trading volume of 1,190,294 shares, compared to its average volume of 1,742,533. The firm has a market capitalization of $4.44 billion, a PE ratio of 38.57, a P/E/G ratio of 4.42 and a beta of 1.00. The stock has a fifty day moving average of $32.77 and a two-hundred day moving average of $32.75. Box, Inc. has a 52 week low of $24.63 and a 52 week high of $35.74.

Remove Ads

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

Wall Street Analyst Weigh In

BOX has been the subject of a number of research reports. Royal Bank of Canada reiterated an "underperform" rating and set a $21.00 price objective on shares of BOX in a research report on Wednesday, December 4th. StockNews.com lowered BOX from a "strong-buy" rating to a "buy" rating in a report on Wednesday, January 8th. Bank of America assumed coverage on BOX in a report on Thursday, December 12th. They set a "buy" rating and a $40.00 price target for the company. Morgan Stanley boosted their price target on BOX from $33.00 to $36.00 and gave the company an "equal weight" rating in a report on Wednesday, December 4th. Finally, JPMorgan Chase & Co. cut their price target on BOX from $38.00 to $37.00 and set an "overweight" rating for the company in a report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $36.60.

Insider Transactions at BOX

In related news, CFO Dylan C. Smith sold 13,000 shares of the business's stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $31.05, for a total value of $403,650.00. Following the sale, the chief financial officer now directly owns 1,466,684 shares in the company, valued at approximately $45,540,538.20. The trade was a 0.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Eli Berkovitch sold 4,791 shares of the business's stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $31.06, for a total value of $148,808.46. Following the completion of the sale, the vice president now owns 132,741 shares in the company, valued at $4,122,935.46. This represents a 3.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 78,363 shares of company stock valued at $2,533,374 over the last 90 days. Company insiders own 4.10% of the company's stock.

About BOX

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.