Vident Advisory LLC Boosts Position in Box, Inc. (NYSE:BOX)

Vident Advisory LLC lifted its position in shares of Box, Inc. (NYSE:BOX) by 15.3% during the 4th quarter, HoldingsChannel reports. The firm owned 116,662 shares of the software maker’s stock after acquiring an additional 15,475 shares during the period. Vident Advisory LLC’s holdings in BOX were worth $3,687,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in BOX. Arrowstreet Capital Limited Partnership boosted its position in shares of BOX by 103.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,386,370 shares of the software maker’s stock valued at $107,009,000 after purchasing an additional 1,725,197 shares in the last quarter. Norges Bank bought a new stake in shares of BOX during the fourth quarter valued at approximately $29,973,000. Jupiter Asset Management Ltd. bought a new stake in shares of BOX during the fourth quarter valued at approximately $24,234,000. Fisher Asset Management LLC boosted its position in shares of BOX by 420.6% during 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 in the last quarter. Finally, Wells Fargo & Company MN boosted its position in shares of BOX by 22.9% during the fourth quarter. Wells Fargo & Company MN now owns 1,633,647 shares of the software maker’s stock valued at $51,623,000 after purchasing an additional 304,755 shares in the last quarter. 86.74% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BOX has been the topic of several research reports. StockNews.com upgraded BOX from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, May 14th. JPMorgan Chase & Co. lowered their price objective on BOX from $38.00 to $37.00 and set an “overweight” rating for the company in a research note on Wednesday, March 5th. Royal Bank of Canada reiterated an “underperform” rating and set a $21.00 price objective on shares of BOX in a research note on Wednesday, March 19th. DA Davidson lowered their price objective on BOX from $45.00 to $40.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Finally, Morgan Stanley lowered their price objective on BOX from $36.00 to $35.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $36.44.

BOX Price Performance

BOX stock opened at $31.98 on Wednesday. Box, Inc. has a 1-year low of $24.63 and a 1-year high of $35.74. The business has a fifty day moving average price of $30.74 and a 200-day moving average price of $32.18. The stock has a market capitalization of $4.60 billion, a P/E ratio of 39.98, a P/E/G ratio of 4.42 and a beta of 0.94.

BOX announced that its board has approved a share repurchase plan on Tuesday, March 4th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the software maker to reacquire up to 3.1% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board believes its shares are undervalued.

Insider Transactions at BOX

In related news, COO Olivia Nottebohm sold 1,332 shares of the company’s stock in a transaction on Monday, April 7th. The stock was sold at an average price of $29.01, for a total transaction of $38,641.32. Following the completion of the sale, the chief operating officer now owns 492,545 shares in the company, valued at approximately $14,288,730.45. This represents a 0.27% decrease in their ownership of the stock. 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 company’s stock in a transaction on Friday, May 9th. The shares were sold at an average price of $31.52, for a total value of $409,760.00. Following the sale, the chief financial officer now owns 1,520,550 shares of the company’s stock, valued at approximately $47,927,736. This trade represents a 0.85% decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,377 shares of company stock worth $2,060,714 over the last quarter. 3.90% of the stock is currently owned by insiders.

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.