Congress Wealth Management LLC DE Has $7.19 Million Holdings in Box, Inc. (NYSE:BOX)

Congress Wealth Management LLC DE lifted its holdings in Box, Inc. (NYSE:BOX - Free Report) by 17.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 227,567 shares of the software maker's stock after purchasing an additional 33,395 shares during the quarter. Congress Wealth Management LLC DE owned about 0.16% of BOX worth $7,191,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Itau Unibanco Holding S.A. bought a new stake in shares of BOX in the third quarter valued at about $36,000. Smartleaf Asset Management LLC boosted its position in BOX by 715.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,162 shares of the software maker's stock worth $69,000 after acquiring an additional 1,897 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in shares of BOX by 19.3% in the fourth quarter. Farther Finance Advisors LLC now owns 2,579 shares of the software maker's stock valued at $81,000 after purchasing an additional 417 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of BOX in the fourth quarter worth $132,000. Finally, Plato Investment Management Ltd acquired a new stake in BOX in the 4th quarter valued at $134,000. 86.74% of the stock is owned by institutional investors.

BOX Price Performance

BOX stock traded down $0.52 during trading hours on Friday, hitting $31.12. The company had a trading volume of 1,401,281 shares, compared to its average volume of 1,798,625. Box, Inc. has a one year low of $24.63 and a one year high of $35.74. The firm has a market cap of $4.47 billion, a PE ratio of 38.90, a PEG ratio of 4.42 and a beta of 1.00. The firm has a 50-day moving average of $32.69 and a 200 day moving average of $32.65.

Remove Ads

BOX announced that its Board of Directors has initiated a share repurchase program on Tuesday, March 4th that permits the company to buyback $150.00 million in outstanding 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 leadership believes its stock is undervalued.

Insider Activity at BOX

In other BOX news, VP Eli Berkovitch sold 4,791 shares of the stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $31.06, for a total transaction of $148,808.46. Following the transaction, 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Olivia Nottebohm sold 6,079 shares of the stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $31.91, for a total value of $193,980.89. Following the sale, the chief operating officer now directly owns 447,067 shares in the company, valued at $14,265,907.97. This represents a 1.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 73,705 shares of company stock worth $2,375,998 in the last ninety days. 4.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Raymond James reiterated an "outperform" rating and set a $38.00 target price (down previously from $40.00) on shares of BOX in a report on Wednesday, March 5th. Morgan Stanley increased their price objective on BOX from $33.00 to $36.00 and gave the company an "equal weight" rating in a report on Wednesday, December 4th. Bank of America initiated coverage on shares of BOX in a research note on Thursday, December 12th. They issued a "buy" rating and a $40.00 target price for the company. JPMorgan Chase & Co. dropped their price target on shares of BOX from $38.00 to $37.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 5th. Finally, Citigroup lifted their price objective on shares of BOX from $34.00 to $40.00 and gave the company a "buy" rating in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, BOX presently has an average rating of "Moderate Buy" and an average price target of $37.11.

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.