Box, Inc. (NYSE:BOX) Shares Acquired by Woodline Partners LP

Woodline Partners LP grew its stake in Box, Inc. (NYSE:BOX) by 63.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,294 shares of the software maker’s stock after purchasing an additional 5,930 shares during the quarter. Woodline Partners LP’s holdings in BOX were worth $483,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Vident Advisory LLC boosted its position in BOX by 15.3% during the fourth quarter. Vident Advisory LLC now owns 116,662 shares of the software maker’s stock worth $3,687,000 after acquiring an additional 15,475 shares during the last quarter. Two Sigma Advisers LP boosted its position in BOX by 694.4% during the fourth quarter. Two Sigma Advisers LP now owns 85,800 shares of the software maker’s stock worth $2,711,000 after acquiring an additional 75,000 shares during the last quarter. State of Wyoming acquired a new position in BOX during the fourth quarter worth about $181,000. Sherbrooke Park Advisers LLC acquired a new position in BOX during the fourth quarter worth about $787,000. Finally, Rafferty Asset Management LLC boosted its position in BOX by 5.8% during the fourth quarter. Rafferty Asset Management LLC now owns 26,128 shares of the software maker’s stock worth $826,000 after acquiring an additional 1,439 shares during the last quarter. Institutional investors and hedge funds own 86.74% of the company’s stock.

BOX Stock Down 0.4%

BOX stock opened at $31.12 on Tuesday. The firm has a market cap of $4.47 billion, a PE ratio of 38.90, a price-to-earnings-growth ratio of 4.42 and a beta of 0.94. Box, Inc. has a 52-week low of $24.63 and a 52-week high of $35.74. The company’s 50 day moving average is $30.76 and its two-hundred day moving average is $32.11.

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

Wall Street Analysts Forecast Growth

BOX has been the topic of a number of recent research reports. DA Davidson lowered their price target on shares of BOX from $45.00 to $40.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Morgan Stanley reduced their target price on shares of BOX from $36.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 16th. JPMorgan Chase & Co. reduced their target price on shares of BOX from $38.00 to $37.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 5th. Raymond James reaffirmed an “outperform” rating and set a $38.00 target price (down from $40.00) on shares of BOX in a research note on Wednesday, March 5th. Finally, Wall Street Zen raised shares of BOX from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, May 14th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, BOX currently has an average rating of “Moderate Buy” and an average price target of $36.44.

Insiders Place Their Bets

In other BOX news, COO Olivia Nottebohm sold 3,434 shares of the stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $31.54, for a total value of $108,308.36. Following the sale, the chief operating officer now directly owns 556,011 shares of the company’s stock, valued at approximately $17,536,586.94. This represents a 0.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Dylan C. Smith sold 13,000 shares of the stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $31.52, for a total transaction of $409,760.00. Following the completion of the sale, the chief financial officer now directly owns 1,520,550 shares in the company, valued at approximately $47,927,736. This represents a 0.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,377 shares of company stock worth $2,060,714 in the last ninety days. 3.90% of the stock is owned by corporate 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.