KLP Kapitalforvaltning AS bought a new stake in Box, Inc. (NYSE:BOX - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 63,000 shares of the software maker's stock, valued at approximately $1,991,000.
Other institutional investors have also recently made changes to their positions in the company. Janney Montgomery Scott LLC raised its stake in BOX by 5.3% in the 4th quarter. Janney Montgomery Scott LLC now owns 7,807 shares of the software maker's stock valued at $247,000 after purchasing an additional 391 shares during the last quarter. Farther Finance Advisors LLC raised its position in shares of BOX by 19.3% in the fourth quarter. Farther Finance Advisors LLC now owns 2,579 shares of the software maker's stock valued at $81,000 after buying an additional 417 shares during the last quarter. Sanctuary Advisors LLC lifted its stake in shares of BOX by 1.2% in the fourth quarter. Sanctuary Advisors LLC now owns 35,775 shares of the software maker's stock worth $1,189,000 after buying an additional 423 shares in the last quarter. Aspiriant LLC boosted its position in BOX by 5.0% during the fourth quarter. Aspiriant LLC now owns 9,048 shares of the software maker's stock worth $286,000 after acquiring an additional 427 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in BOX by 2.6% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 17,340 shares of the software maker's stock valued at $548,000 after acquiring an additional 442 shares in the last quarter. 86.74% of the stock is owned by institutional investors and hedge funds.
BOX Trading Up 1.5 %
BOX traded up $0.46 on Tuesday, hitting $31.32. The company had a trading volume of 1,445,714 shares, compared to its average volume of 1,795,736. The company's fifty day moving average price is $32.67 and its 200 day moving average price is $32.62. Box, Inc. has a 1 year low of $24.63 and a 1 year high of $35.74. The firm has a market cap of $4.50 billion, a P/E ratio of 39.15, a PEG ratio of 4.42 and a beta of 1.00.
BOX declared that its board has approved a stock buyback plan 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 plans are usually an indication that the company's board believes its stock is undervalued.
Analysts Set New Price Targets
A number of research analysts have weighed in on the stock. UBS Group raised their target price 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. Citigroup increased their price target on BOX from $34.00 to $40.00 and gave the company a "buy" rating in a report on Wednesday, December 4th. JPMorgan Chase & Co. lowered their price objective on BOX from $38.00 to $37.00 and set an "overweight" rating on the stock in a research note on Wednesday, March 5th. StockNews.com cut BOX from a "strong-buy" rating to a "buy" rating in a report on Wednesday, January 8th. Finally, DA Davidson reiterated a "buy" rating and set a $45.00 price target on shares of BOX in a report on Wednesday, March 19th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $37.11.
Read Our Latest Report on BOX
Insider Buying and Selling at BOX
In related news, CFO Dylan C. Smith sold 13,000 shares of the stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $31.05, for a total transaction of $403,650.00. Following the transaction, the chief financial officer now owns 1,466,684 shares of the company's stock, valued at approximately $45,540,538.20. This represents a 0.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Aaron Levie sold 10,000 shares of BOX stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $32.08, for a total value of $320,800.00. Following the completion of 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. This represents a 0.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 73,705 shares of company stock worth $2,375,998 over the last three months. Insiders own 4.10% of the company's stock.
BOX Profile
(
Free Report)
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.
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