Emmett Investment Management LP Makes New Investment in Box, Inc. (NYSE:BOX)

Emmett Investment Management LP acquired a new stake in shares of Box, Inc. (NYSE:BOX) during the fourth quarter, according to its most recent filing with the SEC. The fund acquired 143,600 shares of the software maker’s stock, valued at approximately $4,538,000. BOX accounts for approximately 4.1% of Emmett Investment Management LP’s investment portfolio, making the stock its 9th biggest holding. Emmett Investment Management LP owned 0.10% of BOX as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Smartleaf Asset Management LLC increased its stake in BOX by 715.8% in 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 last quarter. TD Waterhouse Canada Inc. increased its position in shares of BOX by 42.4% in the fourth quarter. TD Waterhouse Canada Inc. now owns 2,194 shares of the software maker’s stock worth $69,000 after purchasing an additional 653 shares during the last quarter. Farther Finance Advisors LLC raised its stake in BOX by 19.3% in the fourth 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 in the last quarter. SBI Securities Co. Ltd. bought a new stake in BOX during the fourth quarter valued at approximately $132,000. Finally, Plato Investment Management Ltd purchased a new position in BOX in the 4th quarter worth approximately $134,000. Hedge funds and other institutional investors own 86.74% of the company’s stock.

Insider Buying and Selling

In other BOX news, COO Olivia Nottebohm sold 1,332 shares of the business’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 transaction, the chief operating officer now owns 492,545 shares in the company, valued at approximately $14,288,730.45. The trade was 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 stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $34.32, for a total transaction of $446,160.00. Following the sale, the chief financial officer now owns 1,453,684 shares of the company’s stock, valued at approximately $49,890,434.88. This represents a 0.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 69,022 shares of company stock valued at $2,198,045 over the last three months. 4.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

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

BOX Stock Performance

Shares of BOX stock opened at $31.39 on Friday. The company has a market capitalization of $4.51 billion, a P/E ratio of 39.23, a PEG ratio of 4.42 and a beta of 0.94. Box, Inc. has a fifty-two week low of $24.63 and a fifty-two week high of $35.74. The stock has a 50 day moving average price of $30.74 and a two-hundred day moving average price of $32.18.

BOX declared that its Board of Directors has approved a share repurchase plan on Tuesday, March 4th that allows the company to buyback $150.00 million in shares. This buyback authorization allows the software maker to buy up to 3.1% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

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.