Prudential Financial Inc. cut its holdings in Box, Inc. (NYSE:BOX - Free Report) by 6.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 377,586 shares of the software maker's stock after selling 24,820 shares during the quarter. Prudential Financial Inc. owned 0.26% of BOX worth $11,932,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. Itau Unibanco Holding S.A. purchased a new position in shares of BOX in the 3rd quarter worth $36,000. Smartleaf Asset Management LLC grew its position in BOX by 715.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,162 shares of the software maker's stock worth $69,000 after acquiring an additional 1,897 shares in the last quarter. Farther Finance Advisors LLC grew its position in BOX by 19.3% in the fourth quarter. Farther Finance Advisors LLC now owns 2,579 shares of the software maker's stock worth $81,000 after acquiring an additional 417 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in BOX during the fourth quarter worth approximately $132,000. Finally, Plato Investment Management Ltd purchased a new stake in BOX during the fourth quarter valued at approximately $134,000. Hedge funds and other institutional investors own 86.74% of the company's stock.
BOX Trading Down 0.5 %
Shares of NYSE BOX traded down $0.15 during trading hours on Wednesday, reaching $31.17. The stock had a trading volume of 215,150 shares, compared to its average volume of 1,629,201. Box, Inc. has a 52-week low of $24.63 and a 52-week high of $35.74. The firm has a market cap of $4.48 billion, a price-to-earnings ratio of 38.98, a P/E/G ratio of 4.42 and a beta of 1.00. The business's fifty day moving average price is $32.67 and its two-hundred day moving average price is $32.62.
BOX announced that its board has authorized a share repurchase program on Tuesday, March 4th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the software maker to reacquire up to 3.1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's leadership believes its shares are undervalued.
Analyst Ratings Changes
BOX has been the topic of several analyst reports. Royal Bank of Canada reissued an "underperform" rating and set a $21.00 target price on shares of BOX in a research report on Wednesday, March 19th. UBS Group boosted their price objective on shares of BOX from $34.00 to $42.00 and gave the company a "buy" rating in a research report on Wednesday, December 4th. Raymond James restated 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. Morgan Stanley lifted their price target on shares of BOX from $33.00 to $36.00 and gave the stock an "equal weight" rating in a research note on Wednesday, December 4th. Finally, DA Davidson reissued a "buy" rating and issued a $45.00 price objective on shares of BOX in a research note on Wednesday, March 19th. One analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $37.11.
Read Our Latest Analysis on BOX
Insider Buying and Selling at BOX
In related news, CFO Dylan C. Smith sold 13,000 shares of BOX stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $31.05, for a total value of $403,650.00. Following the completion of the sale, the chief financial officer now directly owns 1,466,684 shares in the company, valued at $45,540,538.20. The trade was 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 the SEC website. Also, VP Eli Berkovitch sold 4,791 shares of the stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $31.06, for a total transaction of $148,808.46. Following the transaction, the vice president now owns 132,741 shares in the company, valued at approximately $4,122,935.46. The trade was a 3.48 % 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 valued at $2,375,998 in the last ninety days. Corporate insiders own 4.10% of the company's stock.
About BOX
(
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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