Sunriver Management LLC Sells 622,526 Shares of Box, Inc. (NYSE:BOX)

Sunriver Management LLC lowered its position in Box, Inc. (NYSE:BOX - Free Report) by 39.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 949,452 shares of the software maker's stock after selling 622,526 shares during the period. BOX comprises 3.6% of Sunriver Management LLC's holdings, making the stock its 16th largest position. Sunriver Management LLC owned 0.66% of BOX worth $30,003,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Smartleaf Asset Management LLC increased its holdings in shares of 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 shares of BOX by 19.3% in the 4th quarter. Farther Finance Advisors LLC now owns 2,579 shares of the software maker's stock valued at $81,000 after purchasing an additional 417 shares during the period. SBI Securities Co. Ltd. bought a new stake in BOX during the 4th quarter worth approximately $132,000. Plato Investment Management Ltd bought a new stake in BOX during the 4th quarter worth approximately $134,000. Finally, KBC Group NV lifted its stake in BOX by 35.7% in the fourth quarter. KBC Group NV now owns 5,403 shares of the software maker's stock valued at $171,000 after buying an additional 1,420 shares in the last quarter. Institutional investors and hedge funds own 86.74% of the company's stock.

BOX Trading Down 0.4 %

Shares of NYSE:BOX traded down $0.13 during trading on Friday, reaching $29.65. 928,340 shares of the stock were exchanged, compared to its average volume of 1,817,048. Box, Inc. has a 12 month low of $24.63 and a 12 month high of $35.74. The stock has a 50-day moving average price of $31.64 and a 200-day moving average price of $32.33. The firm has a market cap of $4.26 billion, a PE ratio of 37.06, a PEG ratio of 4.42 and a beta of 0.96.

BOX announced that its Board of Directors has initiated a share repurchase program on Tuesday, March 4th that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the software maker to purchase up to 3.1% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's leadership believes its stock is undervalued.

Insider Activity at BOX

In related news, CFO Dylan C. Smith sold 13,000 shares of the business's stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $34.32, for a total value of $446,160.00. Following the completion of the sale, the chief financial officer now directly owns 1,453,684 shares in the company, valued at approximately $49,890,434.88. The trade was a 0.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Olivia Nottebohm sold 6,079 shares of the firm's stock in a transaction on Monday, February 10th. The stock was sold at an average price of $34.42, for a total value of $209,239.18. Following the transaction, the chief operating officer now owns 440,988 shares in the company, valued at approximately $15,178,806.96. This trade represents a 1.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 72,996 shares of company stock worth $2,329,886 in the last ninety days. 4.10% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. lowered their price objective on shares of BOX from $38.00 to $37.00 and set an "overweight" rating for the company in a research report on Wednesday, March 5th. StockNews.com downgraded BOX from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, January 8th. DA Davidson reduced their price objective on BOX from $45.00 to $40.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Raymond James reiterated an "outperform" rating and set a $38.00 price objective (down from $40.00) on shares of BOX in a report on Wednesday, March 5th. Finally, Morgan Stanley cut their target price on BOX from $36.00 to $35.00 and set an "equal weight" rating on the stock in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $36.44.

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.