Geode Capital Management LLC Has $101.96 Million Stake in Box, Inc. (NYSE:BOX)

Geode Capital Management LLC cut its holdings in Box, Inc. (NYSE:BOX - Free Report) by 0.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,225,937 shares of the software maker's stock after selling 23,886 shares during the quarter. Geode Capital Management LLC owned 2.24% of BOX worth $101,964,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Janney Montgomery Scott LLC raised its stake in shares of 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 purchasing an additional 391 shares during the last quarter. Farther Finance Advisors LLC raised its position in BOX by 19.3% in the 4th 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 lifted its stake in BOX by 1.2% during the 4th quarter. Sanctuary Advisors LLC now owns 35,775 shares of the software maker's stock valued at $1,189,000 after acquiring an additional 423 shares during the period. Aspiriant LLC lifted its stake in shares of BOX by 5.0% in the 4th quarter. Aspiriant LLC now owns 9,048 shares of the software maker's stock worth $286,000 after purchasing an additional 427 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of BOX by 2.6% during 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 purchasing an additional 442 shares in the last quarter. 86.74% of the stock is owned by institutional investors.

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Insider Buying and Selling at BOX

In related news, VP Eli Berkovitch sold 2,750 shares of the company's stock in a transaction that occurred on Thursday, April 10th. The stock was sold at an average price of $29.58, for a total transaction of $81,345.00. Following the sale, the vice president now directly owns 121,922 shares of the company's stock, valued at approximately $3,606,452.76. This represents a 2.21 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Olivia Nottebohm sold 6,079 shares of the firm's stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $34.42, for a total transaction of $209,239.18. Following the completion of the transaction, the chief operating officer now owns 440,988 shares in the company, valued at approximately $15,178,806.96. The trade was a 1.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 72,996 shares of company stock worth $2,329,886. Corporate insiders own 4.10% of the company's stock.

BOX Trading Down 0.4 %

Shares of BOX traded down $0.13 during trading hours on Tuesday, reaching $29.98. The company had a trading volume of 306,302 shares, compared to its average volume of 1,813,558. The firm has a 50 day simple moving average of $32.02 and a 200-day simple moving average of $32.40. The company has a market capitalization of $4.31 billion, a price-to-earnings ratio of 37.50, a PEG ratio of 4.42 and a beta of 0.96. Box, Inc. has a 12-month low of $24.63 and a 12-month high of $35.74.

BOX declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, March 4th that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the software maker to purchase up to 3.1% of its stock through open market purchases. Stock buyback plans are often an indication that the company's board believes its shares are undervalued.

Analyst Upgrades and Downgrades

BOX has been the subject of several recent research reports. Royal Bank of Canada reiterated an "underperform" rating and issued a $21.00 price target on shares of BOX in a research report on Wednesday, March 19th. StockNews.com lowered BOX from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, January 8th. DA Davidson lowered their price objective on BOX from $45.00 to $40.00 and set a "buy" rating on the stock in a research report on Monday. JPMorgan Chase & Co. dropped their target price on BOX from $38.00 to $37.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 5th. Finally, Raymond James reissued an "outperform" rating and set a $38.00 target price (down previously from $40.00) on shares of BOX in a research note 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. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $36.56.

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.