13,180 Shares in Box, Inc. (NYSE:BOX) Acquired by Cibc World Markets Corp

Cibc World Markets Corp purchased a new position in shares of Box, Inc. (NYSE:BOX - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 13,180 shares of the software maker's stock, valued at approximately $416,000.

Several other institutional investors have also made changes to their positions in BOX. Janney Montgomery Scott LLC grew its position in BOX by 5.3% in the fourth quarter. Janney Montgomery Scott LLC now owns 7,807 shares of the software maker's stock worth $247,000 after acquiring an additional 391 shares in the last quarter. Farther Finance Advisors LLC increased its position in BOX by 19.3% during the fourth quarter. Farther Finance Advisors LLC now owns 2,579 shares of the software maker's stock worth $81,000 after buying an additional 417 shares during the last quarter. Sanctuary Advisors LLC raised its holdings in BOX by 1.2% during the fourth quarter. Sanctuary Advisors LLC now owns 35,775 shares of the software maker's stock valued at $1,189,000 after buying an additional 423 shares in the last quarter. Aspiriant LLC lifted its position in shares of BOX by 5.0% in the fourth quarter. Aspiriant LLC now owns 9,048 shares of the software maker's stock worth $286,000 after buying an additional 427 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of BOX by 2.6% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 17,340 shares of the software maker's stock worth $548,000 after buying an additional 442 shares during the last quarter. 86.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BOX has been the topic of a number of recent analyst reports. StockNews.com downgraded BOX from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, January 8th. DA Davidson reiterated a "buy" rating and set a $45.00 price target on shares of BOX in a report on Wednesday, March 19th. Royal Bank of Canada restated an "underperform" rating and issued a $21.00 price objective on shares of BOX in a research note on Wednesday, March 19th. Citigroup raised their target price 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, Raymond James reiterated an "outperform" rating and issued a $38.00 target price (down previously from $40.00) on shares of BOX in a report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $37.11.

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BOX Stock Performance

Shares of NYSE:BOX traded up $0.61 on Thursday, hitting $31.61. 2,087,400 shares of the company were exchanged, compared to its average volume of 1,731,856. The company's 50 day moving average price is $32.70 and its two-hundred day moving average price is $32.67. The firm has a market capitalization of $4.55 billion, a price-to-earnings ratio of 39.52, a PEG ratio of 4.42 and a beta of 1.00. Box, Inc. has a one year low of $24.63 and a one year high of $35.74.

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

Insider Buying and Selling at BOX

In related news, COO Olivia Nottebohm sold 2,105 shares of the firm's stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $30.76, for a total value of $64,749.80. Following the completion of the transaction, the chief operating officer now directly owns 427,113 shares of the company's stock, valued at $13,137,995.88. This trade represents a 0.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Eli Berkovitch sold 5,651 shares of BOX stock in a transaction on Monday, March 24th. The stock was sold at an average price of $30.66, for a total transaction of $173,259.66. Following the sale, the vice president now owns 124,672 shares in the company, valued at $3,822,443.52. This represents a 4.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 73,705 shares of company stock valued at $2,375,998 in the last quarter. Corporate insiders own 4.10% of the company's stock.

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.