Wells Fargo & Company MN Acquires 304,755 Shares of Box, Inc. (NYSE:BOX)

Wells Fargo & Company MN lifted its stake in Box, Inc. (NYSE:BOX - Free Report) by 22.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,633,647 shares of the software maker's stock after purchasing an additional 304,755 shares during the quarter. Wells Fargo & Company MN owned 1.14% of BOX worth $51,623,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Smartleaf Asset Management LLC boosted its position in BOX by 715.8% during the 4th 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 during the period. Farther Finance Advisors LLC lifted its position in shares of BOX by 19.3% in the fourth quarter. Farther Finance Advisors LLC now owns 2,579 shares of the software maker's stock worth $81,000 after purchasing an additional 417 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of BOX during the fourth quarter worth approximately $132,000. Plato Investment Management Ltd purchased a new position in BOX during the fourth quarter valued at approximately $134,000. Finally, KBC Group NV increased its stake in BOX by 35.7% in the 4th 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 during the period. Hedge funds and other institutional investors own 86.74% of the company's stock.

BOX Price Performance

Shares of BOX stock traded down $0.22 during trading on Tuesday, reaching $29.89. The company had a trading volume of 346,819 shares, compared to its average volume of 1,813,747. The company has a market capitalization of $4.30 billion, a PE ratio of 37.34, a PEG ratio of 4.42 and a beta of 0.96. The firm's 50 day simple moving average is $32.02 and its two-hundred day simple moving average is $32.40. Box, Inc. has a one year low of $24.63 and a one year high of $35.74.

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BOX declared that its Board of Directors has approved a share buyback plan on Tuesday, March 4th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the software maker to reacquire up to 3.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Raymond James reissued an "outperform" rating and set a $38.00 target price (down previously from $40.00) on shares of BOX in a research note on Wednesday, March 5th. JPMorgan Chase & Co. cut their price objective on BOX from $38.00 to $37.00 and set an "overweight" rating for the company in a report on Wednesday, March 5th. DA Davidson lowered their target price on BOX from $45.00 to $40.00 and set a "buy" rating on the stock in a research note on Monday. Royal Bank of Canada reaffirmed an "underperform" rating and issued a $21.00 target price on shares of BOX in a research report on Wednesday, March 19th. Finally, StockNews.com lowered BOX from a "strong-buy" rating to a "buy" rating in a report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $36.56.

Insider Activity

In other BOX news, CFO Dylan C. Smith sold 13,000 shares of BOX stock in a transaction that occurred on Thursday, April 10th. The stock was sold at an average price of $29.72, for a total value of $386,360.00. Following the transaction, the chief financial officer now directly owns 1,463,951 shares of the company's stock, valued at $43,508,623.72. The trade was a 0.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Eli Berkovitch sold 2,750 shares of the stock in a transaction that occurred on Thursday, April 10th. The shares were sold at an average price of $29.58, for a total value of $81,345.00. Following the completion of the sale, the vice president now directly owns 121,922 shares of the company's stock, 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. Insiders have sold a total of 72,996 shares of company stock valued at $2,329,886 over the last 90 days. 4.10% of the stock is currently owned by company insiders.

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.