D. E. Shaw & Co. Inc. Has $13.70 Million Stock Position in Box, Inc. (NYSE:BOX)

D. E. Shaw & Co. Inc. lifted its holdings in Box, Inc. (NYSE:BOX) by 28.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 433,390 shares of the software maker’s stock after purchasing an additional 96,147 shares during the period. D. E. Shaw & Co. Inc. owned 0.30% of BOX worth $13,695,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Arrowstreet Capital Limited Partnership boosted its stake in shares of BOX by 103.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,386,370 shares of the software maker’s stock worth $107,009,000 after acquiring an additional 1,725,197 shares in the last quarter. Norges Bank bought a new stake in BOX during the fourth quarter worth approximately $29,973,000. Jupiter Asset Management Ltd. acquired a new position in BOX during the fourth quarter valued at approximately $24,234,000. Fisher Asset Management LLC raised its position in shares of BOX by 420.6% in the fourth quarter. Fisher Asset Management LLC now owns 857,498 shares of the software maker’s stock valued at $27,097,000 after purchasing an additional 692,784 shares during the period. Finally, Wells Fargo & Company MN lifted its stake in shares of BOX by 22.9% in the fourth quarter. Wells Fargo & Company MN now owns 1,633,647 shares of the software maker’s stock worth $51,623,000 after buying an additional 304,755 shares during the last quarter. 86.74% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on BOX. DA Davidson dropped their target price on shares of BOX from $45.00 to $40.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Royal Bank of Canada reiterated an “underperform” rating and issued a $21.00 price objective on shares of BOX in a research note on Wednesday, March 19th. Morgan Stanley lowered their target price on BOX from $36.00 to $35.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 16th. Raymond James reiterated an “outperform” rating and set a $38.00 price target (down from $40.00) on shares of BOX in a report on Wednesday, March 5th. Finally, JPMorgan Chase & Co. reduced their price objective on BOX from $38.00 to $37.00 and set an “overweight” rating for the company in a research report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $36.44.

BOX Price Performance

Shares of BOX stock opened at $31.78 on Wednesday. Box, Inc. has a 52-week low of $24.63 and a 52-week high of $35.74. The firm has a market capitalization of $4.57 billion, a PE ratio of 39.73, a price-to-earnings-growth ratio of 4.42 and a beta of 0.94. The company’s fifty day moving average price is $30.68 and its two-hundred day moving average price is $32.18.

BOX declared that its board has initiated a share repurchase plan 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 stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Insider Activity

In other news, COO Olivia Nottebohm sold 1,332 shares of the company’s stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $29.01, for a total value of $38,641.32. Following the sale, the chief operating officer now owns 492,545 shares of the company’s stock, valued at approximately $14,288,730.45. This represents a 0.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Aaron Levie sold 10,000 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $32.08, for a total transaction of $320,800.00. Following the sale, the chief executive officer now owns 2,979,780 shares of the company’s stock, valued at $95,591,342.40. This trade represents a 0.33% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,377 shares of company stock worth $2,060,714. Corporate insiders own 4.10% of the company’s stock.

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.