Quantessence Capital LLC Makes New Investment in Box, Inc. (NYSE:BOX)

Quantessence Capital LLC purchased a new stake in Box, Inc. (NYSE:BOX - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 9,472 shares of the software maker's stock, valued at approximately $299,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Arrowstreet Capital Limited Partnership increased its position in BOX by 103.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,386,370 shares of the software maker's stock worth $107,009,000 after purchasing an additional 1,725,197 shares during the last quarter. Sei Investments Co. increased its holdings in shares of BOX by 8.4% during the 4th quarter. Sei Investments Co. now owns 3,286,619 shares of the software maker's stock worth $103,857,000 after buying an additional 255,623 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of BOX by 0.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,610,450 shares of the software maker's stock worth $82,492,000 after buying an additional 11,376 shares during the period. Renaissance Technologies LLC boosted its holdings in BOX by 11.8% in the fourth quarter. Renaissance Technologies LLC now owns 2,205,926 shares of the software maker's stock valued at $69,707,000 after acquiring an additional 233,100 shares during the last quarter. Finally, Congress Asset Management Co. grew its position in BOX by 17.5% during the fourth quarter. Congress Asset Management Co. now owns 1,659,646 shares of the software maker's stock valued at $52,445,000 after acquiring an additional 246,993 shares during the period. Institutional investors and hedge funds own 86.74% of the company's stock.

BOX Price Performance

Shares of BOX stock opened at $29.80 on Wednesday. The company's fifty day moving average price is $31.42 and its two-hundred day moving average price is $32.30. The firm has a market capitalization of $4.29 billion, a P/E ratio of 37.25, a P/E/G 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 announced that its Board of Directors has initiated a share repurchase plan on Tuesday, March 4th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the software maker to reacquire up to 3.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board believes its stock is undervalued.

Insider Buying and Selling

In related news, COO Olivia Nottebohm sold 6,079 shares of BOX stock in a transaction on Monday, February 10th. The shares were sold at an average price of $34.42, for a total value of $209,239.18. Following the completion of the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Eli Berkovitch sold 2,750 shares of the company's stock in a transaction on Thursday, April 10th. The shares were sold at an average price of $29.58, for a total transaction of $81,345.00. Following the completion of the sale, the vice president now directly owns 121,922 shares in the company, valued at $3,606,452.76. This represents a 2.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 66,917 shares of company stock worth $2,135,905. 4.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

BOX has been the topic of a number of research reports. Raymond James restated an "outperform" rating and issued a $38.00 price objective (down from $40.00) on shares of BOX in a report on Wednesday, March 5th. JPMorgan Chase & Co. reduced their price target on shares of BOX from $38.00 to $37.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 5th. Morgan Stanley dropped their price objective on shares of BOX from $36.00 to $35.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. DA Davidson reduced their target price on shares of BOX from $45.00 to $40.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Finally, StockNews.com downgraded BOX from a "strong-buy" rating to a "buy" rating in a report on Wednesday, January 8th. 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 company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $36.44.

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.

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