Two Sigma Investments LP Sells 74,596 Shares of Box, Inc. (NYSE:BOX)

Two Sigma Investments LP trimmed its position in shares of Box, Inc. (NYSE:BOX) by 11.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 589,741 shares of the software maker’s stock after selling 74,596 shares during the quarter. Two Sigma Investments LP’s holdings in BOX were worth $18,636,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Smartleaf Asset Management LLC raised its holdings in BOX by 715.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,162 shares of the software maker’s stock valued at $69,000 after buying an additional 1,897 shares during the last quarter. TD Waterhouse Canada Inc. increased its position in BOX by 42.4% in the 4th quarter. TD Waterhouse Canada Inc. now owns 2,194 shares of the software maker’s stock valued at $69,000 after acquiring an additional 653 shares during the period. Farther Finance Advisors LLC raised its stake in shares of BOX by 19.3% during the fourth quarter. Farther Finance Advisors LLC now owns 2,579 shares of the software maker’s stock valued at $81,000 after acquiring an additional 417 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of BOX during the fourth quarter worth $132,000. Finally, Plato Investment Management Ltd acquired a new position in shares of BOX during the fourth quarter worth $134,000. 86.74% of the stock is currently owned by institutional investors.

BOX Price Performance

Shares of NYSE:BOX opened at $31.30 on Friday. Box, Inc. has a 1 year low of $24.63 and a 1 year high of $35.74. The business’s 50-day moving average is $30.75 and its 200-day moving average is $32.17. The company has a market capitalization of $4.50 billion, a price-to-earnings ratio of 39.12, a P/E/G ratio of 4.42 and a beta of 0.94.

BOX announced that its Board of Directors has approved a share repurchase program on Tuesday, March 4th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the software maker to purchase up to 3.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on BOX. JPMorgan Chase & Co. decreased 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. Raymond James reiterated an “outperform” rating and issued a $38.00 price target (down previously from $40.00) on shares of BOX in a research report on Wednesday, March 5th. 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 report on Wednesday, April 16th. Royal Bank of Canada reaffirmed an “underperform” rating and issued a $21.00 price objective on shares of BOX in a research note on Wednesday, March 19th. Finally, DA Davidson reduced their target price on BOX from $45.00 to $40.00 and set a “buy” rating on the stock in a report on Monday, April 14th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $36.44.

Insiders Place Their Bets

In other BOX news, CEO Aaron Levie sold 10,000 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were 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 approximately $95,591,342.40. This trade represents a 0.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Eli Berkovitch sold 5,651 shares of BOX stock in a transaction on Monday, March 24th. The shares were sold at an average price of $30.66, for a total transaction of $173,259.66. Following the completion of the sale, the vice president now directly owns 124,672 shares of the company’s stock, valued at approximately $3,822,443.52. This trade represents a 4.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 66,377 shares of company stock worth $2,060,714. 3.90% of the stock is owned by corporate 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.