Twenty Acre Capital LP Sells 28,100 Shares of Box, Inc. (NYSE:BOX)

Twenty Acre Capital LP cut its stake in shares of Box, Inc. (NYSE:BOX - Free Report) by 15.5% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 153,100 shares of the software maker's stock after selling 28,100 shares during the period. BOX comprises about 3.9% of Twenty Acre Capital LP's holdings, making the stock its 15th biggest holding. Twenty Acre Capital LP owned 0.11% of BOX worth $4,838,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Arrowstreet Capital Limited Partnership lifted its holdings in BOX by 103.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,386,370 shares of the software maker's stock valued at $107,009,000 after acquiring an additional 1,725,197 shares during the last quarter. Norges Bank acquired a new position in BOX in the 4th quarter valued at $29,973,000. Jupiter Asset Management Ltd. purchased a new stake in BOX in the 4th quarter valued at approximately $24,234,000. Fisher Asset Management LLC grew its holdings in BOX by 420.6% during the fourth quarter. Fisher Asset Management LLC now owns 857,498 shares of the software maker's stock worth $27,097,000 after acquiring an additional 692,784 shares during the period. Finally, Wells Fargo & Company MN lifted its stake in shares of BOX by 22.9% in the fourth quarter. Wells Fargo & Company MN now owns 1,633,647 shares of the software maker's stock valued at $51,623,000 after purchasing an additional 304,755 shares during the period. 86.74% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other BOX news, CFO Dylan C. Smith sold 13,000 shares of the company's stock in a transaction on Thursday, April 10th. The shares were sold at an average price of $29.72, for a total transaction of $386,360.00. Following the sale, the chief financial officer now directly owns 1,463,951 shares of the company's stock, valued at approximately $43,508,623.72. This represents a 0.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Eli Berkovitch sold 2,750 shares of the company's stock in a transaction that occurred on Thursday, April 10th. The shares were sold at an average price of $29.58, for a total value of $81,345.00. Following the completion of the transaction, the vice president now directly owns 121,922 shares in the company, valued at $3,606,452.76. The trade was a 2.21 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 66,917 shares of company stock valued at $2,135,905. 4.10% of the stock is owned by corporate insiders.

BOX Price Performance

Shares of BOX stock traded up $0.58 on Tuesday, hitting $29.89. 458,296 shares of the company's stock traded hands, compared to its average volume of 1,812,369. Box, Inc. has a one year low of $24.63 and a one year high of $35.74. The firm's 50-day moving average price is $31.53 and its two-hundred day moving average price is $32.31. The stock has a market capitalization of $4.30 billion, a PE ratio of 37.29, a price-to-earnings-growth ratio of 4.42 and a beta of 0.96.

BOX announced that its Board of Directors has authorized a stock repurchase plan on Tuesday, March 4th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the software maker to buy up to 3.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. DA Davidson lowered their target price on BOX from $45.00 to $40.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Royal Bank of Canada restated an "underperform" rating and issued a $21.00 price target on shares of BOX in a report on Wednesday, March 19th. Raymond James reiterated an "outperform" rating and issued a $38.00 target price (down previously from $40.00) on shares of BOX in a research note on Wednesday, March 5th. JPMorgan Chase & Co. cut their price objective 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. Finally, StockNews.com lowered shares of BOX from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, January 8th. One 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. According to MarketBeat, BOX currently has a consensus rating of "Moderate Buy" and an average price target of $36.44.

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.