Teacher Retirement System of Texas Sells 10,720 Shares of Box, Inc. (NYSE:BOX)

Teacher Retirement System of Texas reduced its holdings in Box, Inc. (NYSE:BOX - Free Report) by 17.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 51,490 shares of the software maker's stock after selling 10,720 shares during the quarter. Teacher Retirement System of Texas' holdings in BOX were worth $1,627,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. State Street Corp lifted its holdings in BOX by 1.2% during the 3rd quarter. State Street Corp now owns 5,623,032 shares of the software maker's stock worth $184,042,000 after buying an additional 69,107 shares during the period. Geode Capital Management LLC lifted its stake in shares of BOX by 0.4% in the third quarter. Geode Capital Management LLC now owns 3,249,823 shares of the software maker's stock worth $106,387,000 after acquiring an additional 13,028 shares during the period. Jacobs Levy Equity Management Inc. increased its position in BOX by 1.9% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,425,176 shares of the software maker's stock valued at $79,376,000 after purchasing an additional 44,190 shares during the period. Congress Asset Management Co. increased its position in BOX by 17.5% during 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 purchasing an additional 246,993 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of BOX by 2.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,399,629 shares of the software maker's stock valued at $44,228,000 after purchasing an additional 27,814 shares during the last quarter. Institutional investors own 86.74% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. StockNews.com downgraded shares of BOX from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, January 8th. Raymond James reissued an "outperform" rating and issued a $38.00 price objective (down from $40.00) on shares of BOX in a research note on Wednesday, March 5th. Morgan Stanley raised their target price on BOX from $33.00 to $36.00 and gave the stock an "equal weight" rating in a research note on Wednesday, December 4th. Bank of America started coverage on BOX in a research note on Thursday, December 12th. They issued a "buy" rating and a $40.00 price target on the stock. Finally, UBS Group raised their price objective on shares of BOX from $34.00 to $42.00 and gave the stock a "buy" rating in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $37.11.

Insider Activity at BOX

In other news, VP Eli Berkovitch sold 4,791 shares of the stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $31.06, for a total transaction of $148,808.46. Following the completion of the transaction, the vice president now directly owns 132,741 shares in the company, valued at approximately $4,122,935.46. This represents a 3.48 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Dylan C. Smith sold 13,000 shares of the business's stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $31.05, for a total value of $403,650.00. Following the sale, the chief financial officer now directly owns 1,466,684 shares in the company, valued at $45,540,538.20. The trade was a 0.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 73,705 shares of company stock worth $2,375,998. 4.10% of the stock is owned by company insiders.

BOX Stock Down 0.7 %

BOX traded down $0.21 during midday trading on Monday, hitting $30.89. 1,399,069 shares of the company traded hands, compared to its average volume of 1,797,035. The firm has a market capitalization of $4.44 billion, a PE ratio of 38.62, a price-to-earnings-growth ratio of 4.42 and a beta of 1.00. The company's 50-day moving average is $32.68 and its 200 day moving average is $32.63. Box, Inc. has a 52 week low of $24.63 and a 52 week high of $35.74.

BOX announced that its Board of Directors has authorized a stock buyback plan on Tuesday, March 4th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the software maker to buy up to 3.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's management believes its stock is undervalued.

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.