OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC Takes Position in Box, Inc. (NYSE:BOX)

OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of Box, Inc. (NYSE:BOX) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 32,500 shares of the software maker’s stock, valued at approximately $1,027,000.

Several other hedge funds have also added to or reduced their stakes in BOX. Arrowstreet Capital Limited Partnership boosted its stake in shares of BOX by 103.9% in 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 buying an additional 1,725,197 shares during the period. Norges Bank acquired a new position in BOX in the 4th quarter valued at $29,973,000. Jupiter Asset Management Ltd. bought a new stake in shares of BOX during the 4th quarter valued at $24,234,000. Fisher Asset Management LLC grew its holdings in shares of BOX by 420.6% during the 4th quarter. Fisher Asset Management LLC now owns 857,498 shares of the software maker’s stock worth $27,097,000 after purchasing an additional 692,784 shares in the last quarter. Finally, Wells Fargo & Company MN grew its holdings in shares of BOX by 22.9% during the 4th quarter. Wells Fargo & Company MN now owns 1,633,647 shares of the software maker’s stock worth $51,623,000 after purchasing an additional 304,755 shares in the last quarter. 86.74% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

BOX Stock Down 0.3%

Shares of BOX stock opened at $31.78 on Wednesday. The firm has a market capitalization of $4.57 billion, a P/E ratio of 39.73, a P/E/G ratio of 4.42 and a beta of 0.94. The stock’s fifty day simple moving average is $30.68 and its 200 day simple moving average is $32.18. Box, Inc. has a twelve month low of $24.63 and a twelve month high of $35.74.

BOX announced that its board has authorized 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 shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.

Insider Activity at BOX

In related news, CEO Aaron Levie sold 10,000 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $32.08, for a total value of $320,800.00. Following the completion of the sale, the chief executive officer now directly owns 2,979,780 shares in the company, valued at $95,591,342.40. This represents a 0.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Dylan C. Smith sold 13,000 shares of BOX stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $31.52, for a total value of $409,760.00. Following the transaction, the chief financial officer now directly owns 1,520,550 shares in the company, valued at $47,927,736. The trade was a 0.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 66,377 shares of company stock worth $2,060,714 in the last quarter. 4.10% of the stock is 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.