Box, Inc. (NYSE:BOX) Shares Purchased by Earnest Partners LLC

Earnest Partners LLC raised its holdings in Box, Inc. (NYSE:BOX - Free Report) by 2.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,896,931 shares of the software maker's stock after purchasing an additional 162,437 shares during the quarter. BOX comprises approximately 1.1% of Earnest Partners LLC's portfolio, making the stock its 17th largest holding. Earnest Partners LLC owned about 5.50% of BOX worth $249,543,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Smartleaf Asset Management LLC lifted its stake in shares of BOX by 715.8% in 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 period. TD Waterhouse Canada Inc. lifted its stake in shares of BOX by 42.4% in the fourth quarter. TD Waterhouse Canada Inc. now owns 2,194 shares of the software maker's stock valued at $69,000 after purchasing an additional 653 shares during the period. Farther Finance Advisors LLC increased its holdings in 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 buying an additional 417 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of BOX during the 4th quarter valued at approximately $132,000. Finally, Plato Investment Management Ltd acquired a new stake in shares of BOX in the 4th quarter worth approximately $134,000. 86.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BOX has been the topic of several research reports. JPMorgan Chase & Co. lowered their target price on BOX from $38.00 to $37.00 and set an "overweight" rating on the stock in a report on Wednesday, March 5th. Royal Bank of Canada reiterated an "underperform" rating and set a $21.00 target price on shares of BOX in a report on Wednesday, March 19th. StockNews.com cut BOX from a "strong-buy" rating to a "buy" rating in a report on Wednesday, January 8th. Raymond James reaffirmed an "outperform" rating and set a $38.00 price objective (down previously from $40.00) on shares of BOX in a research note on Wednesday, March 5th. Finally, DA Davidson reduced their target price on shares of BOX from $45.00 to $40.00 and set a "buy" rating on the stock in a report on Monday, April 14th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, BOX presently has a consensus rating of "Moderate Buy" and an average target price of $36.44.

BOX Stock Performance

NYSE BOX opened at $30.96 on Friday. Box, Inc. has a one year low of $24.63 and a one year high of $35.74. The company's 50 day moving average price is $31.14 and its 200 day moving average price is $32.27. The firm has a market capitalization of $4.45 billion, a price-to-earnings ratio of 38.70, a PEG ratio of 4.42 and a beta of 0.96.

BOX announced that its board has authorized a stock buyback program on Tuesday, March 4th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the software maker to reacquire 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 shares are undervalued.

Insider Transactions at BOX

In other BOX news, COO Olivia Nottebohm sold 6,079 shares of the business's stock in a transaction on Monday, February 10th. The shares were sold at an average price of $34.42, for a total value of $209,239.18. Following the transaction, the chief operating officer now owns 440,988 shares in the company, valued at $15,178,806.96. The trade was a 1.36 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Eli Berkovitch sold 2,750 shares of BOX stock in a transaction dated Thursday, April 10th. The stock was sold at an average price of $29.58, for a total value of $81,345.00. Following the sale, the vice president now directly owns 121,922 shares in the company, valued at approximately $3,606,452.76. The trade was a 2.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 69,022 shares of company stock valued at $2,198,045 over the last quarter. Company insiders own 4.10% of the company's stock.

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.

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