Quantbot Technologies LP Sells 73,312 Shares of Box, Inc. (NYSE:BOX)

Quantbot Technologies LP reduced its stake in shares of Box, Inc. (NYSE:BOX - Free Report) by 83.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,037 shares of the software maker's stock after selling 73,312 shares during the period. Quantbot Technologies LP's holdings in BOX were worth $444,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its stake in shares of BOX by 10.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,371,815 shares of the software maker's stock valued at $44,900,000 after acquiring an additional 134,175 shares in the last quarter. Fisher Asset Management LLC raised its position in shares of BOX by 4.6% in the third quarter. Fisher Asset Management LLC now owns 164,714 shares of the software maker's stock valued at $5,391,000 after purchasing an additional 7,292 shares during the period. Townsquare Capital LLC acquired a new stake in shares of BOX in the third quarter worth $2,021,000. Bridgewater Associates LP boosted its holdings in shares of BOX by 15.4% during the 3rd quarter. Bridgewater Associates LP now owns 113,272 shares of the software maker's stock worth $3,707,000 after buying an additional 15,119 shares during the period. Finally, Glenmede Trust Co. NA boosted its holdings in shares of BOX by 1.6% during the 3rd quarter. Glenmede Trust Co. NA now owns 34,107 shares of the software maker's stock worth $1,116,000 after buying an additional 535 shares during the period. Institutional investors and hedge funds own 86.74% of the company's stock.

Remove Ads

Insider Buying and Selling at BOX

In other news, CEO Aaron Levie sold 10,000 shares of BOX stock in a transaction that occurred on 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 owns 2,979,780 shares in the company, 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 legal filing with the SEC, which is accessible through this link. Also, COO Olivia Nottebohm sold 6,079 shares of the stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $31.91, for a total value of $193,980.89. Following the sale, the chief operating officer now owns 447,067 shares in the company, valued at approximately $14,265,907.97. This trade represents a 1.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 73,705 shares of company stock valued at $2,375,998. 4.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Morgan Stanley boosted their target price on shares of BOX from $33.00 to $36.00 and gave the stock an "equal weight" rating in a research report on Wednesday, December 4th. Bank of America assumed coverage on BOX in a research report on Thursday, December 12th. They set a "buy" rating and a $40.00 price objective for the company. JPMorgan Chase & Co. lowered their target price on BOX from $38.00 to $37.00 and set an "overweight" rating on the stock in a report on Wednesday, March 5th. StockNews.com lowered BOX from a "strong-buy" rating to a "buy" rating in a report on Wednesday, January 8th. Finally, Raymond James restated an "outperform" rating and issued a $38.00 price objective (down previously from $40.00) on shares of BOX in a research note on Wednesday, March 5th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $37.11.

BOX Price Performance

Shares of BOX stock traded up $0.20 during midday trading on Wednesday, hitting $31.52. 1,410,057 shares of the company were exchanged, compared to its average volume of 1,793,212. The firm has a 50 day simple moving average of $32.67 and a 200-day simple moving average of $32.61. The firm has a market cap of $4.53 billion, a P/E ratio of 39.40, a PEG ratio of 4.42 and a beta of 1.00. Box, Inc. has a 52 week low of $24.63 and a 52 week high of $35.74.

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

About BOX

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.