Sei Investments Co. Raises Stake in Box, Inc. (NYSE:BOX)

Sei Investments Co. boosted its holdings in Box, Inc. (NYSE:BOX - Free Report) by 8.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,286,619 shares of the software maker's stock after buying an additional 255,623 shares during the quarter. Sei Investments Co. owned approximately 2.29% of BOX worth $103,857,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Itau Unibanco Holding S.A. acquired a new position in BOX in the 3rd quarter valued at approximately $36,000. Smartleaf Asset Management LLC increased its holdings in BOX by 715.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,162 shares of the software maker's stock valued at $69,000 after purchasing an additional 1,897 shares during the period. Farther Finance Advisors LLC raised its position in BOX by 19.3% during the 4th quarter. Farther Finance Advisors LLC now owns 2,579 shares of the software maker's stock worth $81,000 after purchasing an additional 417 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in BOX during the 4th quarter worth about $132,000. Finally, Plato Investment Management Ltd bought a new stake in shares of BOX in the 4th quarter valued at about $134,000. Institutional investors own 86.74% of the company's stock.

BOX Stock Performance

BOX stock traded up $0.61 during mid-day trading on Thursday, reaching $31.61. The stock had a trading volume of 2,087,400 shares, compared to its average volume of 1,731,857. The firm has a market capitalization of $4.55 billion, a PE ratio of 39.52, a price-to-earnings-growth ratio of 4.42 and a beta of 1.00. Box, Inc. has a fifty-two week low of $24.63 and a fifty-two week high of $35.74. The stock's 50-day simple moving average is $32.70 and its 200-day simple moving average is $32.67.

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BOX declared that its board has initiated a stock repurchase plan on Tuesday, March 4th that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the software maker to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's leadership believes its stock is undervalued.

Analyst Ratings Changes

A number of equities analysts recently commented on BOX shares. Raymond James reaffirmed an "outperform" rating and issued a $38.00 price objective (down from $40.00) on shares of BOX in a research note on Wednesday, March 5th. StockNews.com downgraded shares of BOX from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, January 8th. DA Davidson reiterated a "buy" rating and set a $45.00 price objective on shares of BOX in a research report on Wednesday, March 19th. UBS Group boosted their target price on shares of BOX from $34.00 to $42.00 and gave the company a "buy" rating in a report on Wednesday, December 4th. Finally, Citigroup increased their price target on BOX from $34.00 to $40.00 and gave the stock a "buy" rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, BOX has an average rating of "Moderate Buy" and a consensus price target of $37.11.

Insider Activity

In other BOX news, CEO Aaron Levie sold 10,000 shares of the firm's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $32.08, for a total transaction of $320,800.00. Following the transaction, the chief executive officer now directly owns 2,979,780 shares in the company, valued at approximately $95,591,342.40. This trade represents a 0.33 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Olivia Nottebohm sold 6,079 shares of the company's stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $31.91, for a total transaction of $193,980.89. Following the completion of the sale, the chief operating officer now owns 447,067 shares of the company's stock, valued at approximately $14,265,907.97. The trade was 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 over the last three months. 4.10% of the stock is currently owned by insiders.

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.