Raymond James Financial Inc. Makes New $8.41 Million Investment in Box, Inc. (NYSE:BOX)

Raymond James Financial Inc. bought a new stake in Box, Inc. (NYSE:BOX - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 265,976 shares of the software maker's stock, valued at approximately $8,405,000. Raymond James Financial Inc. owned 0.19% of BOX as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Pathstone Holdings LLC boosted its position in BOX by 7.3% during the 3rd quarter. Pathstone Holdings LLC now owns 51,813 shares of the software maker's stock valued at $1,696,000 after purchasing an additional 3,532 shares during the period. Intech Investment Management LLC acquired a new stake in shares of BOX in the 3rd quarter worth about $1,190,000. Massachusetts Financial Services Co. MA increased its stake in shares of BOX by 5.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 89,229 shares of the software maker's stock valued at $2,920,000 after purchasing an additional 4,766 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of BOX by 10.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,371,815 shares of the software maker's stock valued at $44,900,000 after buying an additional 134,175 shares during the last quarter. Finally, Algert Global LLC boosted its position in shares of BOX by 80.3% during the third quarter. Algert Global LLC now owns 140,390 shares of the software maker's stock worth $4,595,000 after buying an additional 62,540 shares during the period. 86.74% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

BOX has been the subject of several recent analyst reports. DA Davidson reissued a "buy" rating and issued a $45.00 price target on shares of BOX in a research note on Wednesday, March 19th. Citigroup increased their target price on shares of BOX from $34.00 to $40.00 and gave the company a "buy" rating in a research report on Wednesday, December 4th. JPMorgan Chase & Co. dropped 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 upped 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, Raymond James reiterated an "outperform" rating and set 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 given a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, BOX has an average rating of "Moderate Buy" and a consensus target price of $37.11.

BOX Stock Performance

Shares of NYSE BOX traded up $0.24 during trading on Wednesday, hitting $30.99. The company had a trading volume of 1,401,951 shares, compared to its average volume of 1,728,866. The company has a market cap of $4.46 billion, a P/E ratio of 38.74, a PEG ratio of 4.42 and a beta of 1.00. The business's 50-day moving average is $32.71 and its 200 day moving average is $32.68. Box, Inc. has a 52 week low of $24.63 and a 52 week high of $35.74.

BOX declared that its board has authorized a stock repurchase plan on Tuesday, March 4th that allows the company to buyback $150.00 million in outstanding shares. This buyback authorization allows the software maker to purchase up to 3.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's management believes its shares are undervalued.

Insider Transactions at BOX

In other BOX news, VP Eli Berkovitch sold 4,791 shares of BOX stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $31.06, for a total transaction of $148,808.46. Following the transaction, the vice president now directly owns 132,741 shares in the company, valued at approximately $4,122,935.46. The trade was a 3.48 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Olivia Nottebohm sold 12,414 shares of the stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $31.85, for a total value of $395,385.90. Following the completion of the sale, the chief operating officer now owns 453,146 shares of the company's stock, valued at $14,432,700.10. The trade was a 2.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 78,363 shares of company stock valued at $2,533,374 over the last three months. Company insiders own 4.10% of the company's stock.

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.