Arrowstreet Capital Limited Partnership Raises Stake in Box, Inc. (NYSE:BOX)

Arrowstreet Capital Limited Partnership boosted its stake in Box, Inc. (NYSE:BOX - Free Report) by 103.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,386,370 shares of the software maker's stock after purchasing an additional 1,725,197 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 2.36% of BOX worth $107,009,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. State Street Corp lifted its stake in shares of 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 purchasing an additional 69,107 shares in the last quarter. Sei Investments Co. raised its holdings in BOX by 8.4% in the fourth quarter. Sei Investments Co. now owns 3,286,619 shares of the software maker's stock valued at $103,857,000 after buying an additional 255,623 shares during the period. Geode Capital Management LLC grew its stake in BOX by 0.4% during the third quarter. Geode Capital Management LLC now owns 3,249,823 shares of the software maker's stock worth $106,387,000 after buying an additional 13,028 shares during the period. Jacobs Levy Equity Management Inc. increased its position in shares of BOX by 1.9% in the third quarter. Jacobs Levy Equity Management Inc. now owns 2,425,176 shares of the software maker's stock worth $79,376,000 after acquiring an additional 44,190 shares in the last quarter. Finally, Congress Asset Management Co. raised its stake in shares of BOX by 17.5% in the 4th quarter. Congress Asset Management Co. now owns 1,659,646 shares of the software maker's stock valued at $52,445,000 after acquiring an additional 246,993 shares during the period. Institutional investors and hedge funds own 86.74% of the company's stock.

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Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. DA Davidson reiterated a "buy" rating and issued a $45.00 price target on shares of BOX in a report on Wednesday, March 19th. JPMorgan Chase & Co. lowered their price objective on shares of BOX from $38.00 to $37.00 and set an "overweight" rating for the company in a research report on Wednesday, March 5th. StockNews.com cut shares of BOX from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, January 8th. Royal Bank of Canada reaffirmed an "underperform" rating and set a $21.00 price target on shares of BOX in a report on Wednesday, March 19th. Finally, Bank of America assumed coverage on BOX in a research report on Thursday, December 12th. They set a "buy" rating and a $40.00 target price on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $37.11.

BOX Trading Down 4.1 %

BOX stock traded down $1.26 during trading on Friday, hitting $29.82. 2,913,543 shares of the stock traded hands, compared to its average volume of 1,802,155. The stock has a market cap of $4.29 billion, a price-to-earnings ratio of 37.28, a P/E/G ratio of 4.42 and a beta of 1.00. Box, Inc. has a one year low of $24.63 and a one year high of $35.74. The company has a 50 day simple moving average of $32.63 and a 200 day simple moving average of $32.58.

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

Insider Activity

In other BOX news, COO Olivia Nottebohm sold 6,079 shares of the company's stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $31.91, for a total value of $193,980.89. Following the completion of the transaction, the chief operating officer now directly owns 447,067 shares in the company, valued at approximately $14,265,907.97. This represents a 1.34 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Dylan C. Smith sold 13,000 shares of the company's stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $31.05, for a total value of $403,650.00. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 73,705 shares of company stock worth $2,375,998. Corporate 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.