Edgestream Partners L.P. Purchases Shares of 84,537 Box, Inc. (NYSE:BOX)

Edgestream Partners L.P. bought a new position in Box, Inc. (NYSE:BOX - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 84,537 shares of the software maker's stock, valued at approximately $2,671,000. Edgestream Partners L.P. owned 0.06% of BOX at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. Itau Unibanco Holding S.A. acquired a new stake in shares of BOX during the 3rd quarter worth approximately $36,000. Farther Finance Advisors LLC grew its holdings in shares of BOX by 245.4% during the third quarter. Farther Finance Advisors LLC now owns 2,162 shares of the software maker's stock valued at $71,000 after buying an additional 1,536 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in BOX by 715.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,162 shares of the software maker's stock valued at $69,000 after buying an additional 1,897 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of BOX during the 4th quarter valued at about $132,000. Finally, Plato Investment Management Ltd bought a new position in shares of BOX during the 4th quarter valued at $134,000. Hedge funds and other institutional investors own 86.74% of the company's stock.

Analyst Upgrades and Downgrades

BOX has been the topic of several research reports. Raymond James restated an "outperform" rating and set a $38.00 price objective (down previously from $40.00) on shares of BOX in a report on Wednesday, March 5th. Citigroup lifted their target price on BOX from $34.00 to $40.00 and gave the stock a "buy" rating in a report on Wednesday, December 4th. UBS Group increased their price objective on shares of BOX from $34.00 to $42.00 and gave the stock a "buy" rating in a research note on Wednesday, December 4th. StockNews.com lowered shares of BOX from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, January 8th. Finally, Royal Bank of Canada restated an "underperform" rating and set a $21.00 price objective on shares of BOX in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, BOX presently has a consensus rating of "Moderate Buy" and an average target price of $36.60.

Remove Ads

Insider Transactions at BOX

In other news, CEO Aaron Levie sold 10,000 shares of the business's stock in a transaction 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 transaction, the chief executive officer now directly owns 2,979,780 shares of the company's stock, valued at approximately $95,591,342.40. The trade was a 0.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Eli Berkovitch sold 4,792 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $32.46, for a total value of $155,548.32. Following the transaction, the vice president now directly owns 140,172 shares in the company, valued at approximately $4,549,983.12. This represents a 3.31 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 83,155 shares of company stock valued at $2,688,923. 4.10% of the stock is currently owned by corporate insiders.

BOX Trading Down 1.9 %

Shares of BOX stock traded down $0.60 during trading hours on Thursday, reaching $30.36. The stock had a trading volume of 1,896,772 shares, compared to its average volume of 1,873,895. Box, Inc. has a twelve month low of $24.63 and a twelve month high of $35.74. The firm has a market capitalization of $4.36 billion, a PE ratio of 37.95, a PEG ratio of 4.42 and a beta of 1.00. The stock's 50 day moving average is $32.81 and its 200 day moving average is $32.74.

BOX announced that its Board of Directors has authorized a share buyback program on Tuesday, March 4th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the software maker to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's management believes its shares are undervalued.

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.