Renaissance Technologies LLC Buys 233,100 Shares of Box, Inc. (NYSE:BOX)

Renaissance Technologies LLC grew its position in Box, Inc. (NYSE:BOX - Free Report) by 11.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,205,926 shares of the software maker's stock after purchasing an additional 233,100 shares during the period. Renaissance Technologies LLC owned about 1.54% of BOX worth $69,707,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp increased its position in shares of BOX by 1.2% during the third quarter. State Street Corp now owns 5,623,032 shares of the software maker's stock worth $184,042,000 after acquiring an additional 69,107 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of BOX by 103.9% in 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 in the last quarter. Sei Investments Co. boosted its holdings in BOX by 8.4% during the fourth quarter. Sei Investments Co. now owns 3,286,619 shares of the software maker's stock worth $103,857,000 after purchasing an additional 255,623 shares during the last quarter. Geode Capital Management LLC grew its position in BOX by 0.4% in the third quarter. Geode Capital Management LLC now owns 3,249,823 shares of the software maker's stock valued at $106,387,000 after purchasing an additional 13,028 shares in the last quarter. Finally, Congress Asset Management Co. increased its stake in BOX by 17.5% in the 4th quarter. Congress Asset Management Co. now owns 1,659,646 shares of the software maker's stock valued at $52,445,000 after buying an additional 246,993 shares during the last quarter. 86.74% of the stock is owned by institutional investors.

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Insider Activity

In other news, CEO Aaron Levie sold 10,000 shares of the firm's 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 sale, the chief executive officer now directly owns 2,979,780 shares in the company, valued at approximately $95,591,342.40. This trade represents a 0.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Dylan C. Smith sold 13,000 shares of the company's stock in a transaction on Thursday, April 10th. The stock was sold at an average price of $29.72, for a total transaction of $386,360.00. Following the transaction, the chief financial officer now owns 1,463,951 shares of the company's stock, valued at $43,508,623.72. This trade represents a 0.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 72,996 shares of company stock worth $2,329,886. 4.10% of the stock is currently owned by company insiders.

BOX Price Performance

NYSE:BOX traded down $0.15 during trading hours on Tuesday, reaching $29.96. 482,919 shares of the company were exchanged, compared to its average volume of 1,814,211. The business has a 50 day moving average of $32.02 and a 200 day moving average of $32.40. Box, Inc. has a 1-year low of $24.63 and a 1-year high of $35.74. The company has a market capitalization of $4.31 billion, a P/E ratio of 37.45, a P/E/G ratio of 4.42 and a beta of 0.96.

BOX declared that its Board of Directors has initiated a share repurchase program on Tuesday, March 4th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the software maker to reacquire up to 3.1% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on BOX shares. Raymond James reissued an "outperform" rating and issued a $38.00 target price (down from $40.00) on shares of BOX in a research note on Wednesday, March 5th. StockNews.com lowered shares of BOX from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, January 8th. DA Davidson reduced their price target on BOX from $45.00 to $40.00 and set a "buy" rating for the company in a report on Monday. JPMorgan Chase & Co. dropped 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. Finally, Royal Bank of Canada reiterated an "underperform" rating and set a $21.00 target price 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 assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $36.56.

BOX Company 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.