Box, Inc. (NYSE:BOX) Shares Sold by AlphaQuest LLC

AlphaQuest LLC reduced its holdings in shares of Box, Inc. (NYSE:BOX - Free Report) by 34.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,408 shares of the software maker's stock after selling 13,595 shares during the period. AlphaQuest LLC's holdings in BOX were worth $834,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in BOX. Fisher Asset Management LLC raised its position in shares of BOX by 420.6% in the 4th quarter. Fisher Asset Management LLC now owns 857,498 shares of the software maker's stock valued at $27,097,000 after purchasing an additional 692,784 shares during the last quarter. Raymond James Financial Inc. acquired a new position in BOX during the 4th quarter valued at approximately $8,405,000. Congress Asset Management Co. raised its holdings in shares of BOX by 17.5% in the fourth quarter. Congress Asset Management Co. now owns 1,659,646 shares of the software maker's stock worth $52,445,000 after buying an additional 246,993 shares during the last quarter. Beacon Harbor Wealth Advisors Inc. acquired a new stake in shares of BOX during the fourth quarter worth $5,997,000. Finally, Los Angeles Capital Management LLC grew its holdings in shares of BOX by 629.1% during the fourth quarter. Los Angeles Capital Management LLC now owns 161,865 shares of the software maker's stock valued at $5,115,000 after buying an additional 139,664 shares during the last quarter. Institutional investors and hedge funds own 86.74% of the company's stock.

BOX Price Performance

BOX traded up $0.90 on Friday, reaching $31.23. 1,714,581 shares of the company's stock were exchanged, compared to its average volume of 1,870,384. Box, Inc. has a twelve month low of $24.63 and a twelve month high of $35.74. The stock has a market cap of $4.49 billion, a PE ratio of 39.03, a P/E/G ratio of 4.42 and a beta of 1.00. The stock's fifty day moving average price is $32.81 and its 200-day moving average price is $32.74.

Remove Ads

BOX announced that its board has initiated a share buyback program on Tuesday, March 4th that allows the company to buyback $150.00 million in outstanding shares. This buyback authorization allows the software maker to purchase up to 3.1% of its stock through open market purchases. Stock buyback programs are often an indication that the company's leadership believes its shares are undervalued.

Insider Buying and Selling

In related news, CEO Aaron Levie sold 10,000 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $32.08, for a total transaction of $320,800.00. Following the completion of the transaction, the chief executive officer now owns 2,979,780 shares of the company's stock, valued at approximately $95,591,342.40. This trade represents a 0.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Olivia Nottebohm sold 6,079 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $34.42, for a total value of $209,239.18. Following the transaction, the chief operating officer now directly owns 440,988 shares in the company, valued at approximately $15,178,806.96. The trade was a 1.36 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 83,155 shares of company stock worth $2,688,923. 4.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on BOX shares. William Blair reaffirmed an "outperform" rating on shares of BOX in a research report on Thursday, November 14th. Morgan Stanley upped their target price on BOX from $33.00 to $36.00 and gave the company an "equal weight" rating in a research report on Wednesday, December 4th. JPMorgan Chase & Co. cut their price target on shares of BOX from $38.00 to $37.00 and set an "overweight" rating on the stock in a report on Wednesday, March 5th. 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 note on Wednesday, December 4th. Finally, DA Davidson began coverage on shares of BOX in a research note on Wednesday, December 18th. They issued a "buy" rating and a $45.00 price objective on the stock. One analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $36.60.

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.