Box, Inc. (NYSE:BOX) Shares Acquired by Focus Partners Wealth

Focus Partners Wealth grew its stake in Box, Inc. (NYSE:BOX) by 2.3% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 124,498 shares of the software maker’s stock after purchasing an additional 2,816 shares during the period. Focus Partners Wealth’s holdings in BOX were worth $3,934,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Smartleaf Asset Management LLC boosted its holdings in shares of 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 in the last quarter. TD Waterhouse Canada Inc. boosted its holdings in shares of 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 buying an additional 653 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of BOX by 19.3% in the 4th quarter. Farther Finance Advisors LLC now owns 2,579 shares of the software maker’s stock valued at $81,000 after buying an additional 417 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of BOX in the 4th quarter valued at $132,000. Finally, Plato Investment Management Ltd acquired a new position in shares of BOX in the 4th quarter valued at $134,000. Institutional investors and hedge funds own 86.74% of the company’s stock.

BOX Stock Performance

BOX stock opened at $31.61 on Thursday. Box, Inc. has a one year low of $24.63 and a one year high of $35.74. The stock has a market capitalization of $4.55 billion, a PE ratio of 39.51, a price-to-earnings-growth ratio of 4.42 and a beta of 0.94. The company has a fifty day moving average of $30.66 and a 200-day moving average of $32.17.

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

Insider Transactions at BOX

In related news, COO Olivia Nottebohm sold 3,434 shares of the firm’s stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $31.54, for a total value of $108,308.36. Following the completion of the sale, the chief operating officer now owns 556,011 shares in the company, valued at $17,536,586.94. This trade represents a 0.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Aaron Levie sold 10,000 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $32.08, for a total transaction of $320,800.00. Following the completion of the sale, the chief executive officer now owns 2,979,780 shares of the company’s stock, valued at $95,591,342.40. This trade represents a 0.33% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,377 shares of company stock worth $2,060,714. Company insiders own 4.10% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on BOX. DA Davidson decreased their price target on shares of BOX from $45.00 to $40.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Raymond James reiterated an “outperform” rating and set a $38.00 price target (down previously from $40.00) on shares of BOX in a research note on Wednesday, March 5th. Morgan Stanley decreased their price target on shares of BOX from $36.00 to $35.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 16th. StockNews.com upgraded shares of BOX from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. Finally, Royal Bank of Canada reiterated an “underperform” rating and set a $21.00 price target on shares of BOX in a research note on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, BOX currently has an average rating of “Moderate Buy” and an average target price of $36.44.

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.