EFG Asset Management North America Corp. Acquires 38,710 Shares of Box, Inc. (NYSE:BOX)

EFG Asset Management North America Corp. boosted its stake in shares of Box, Inc. (NYSE:BOX) by 59.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 103,891 shares of the software maker’s stock after buying an additional 38,710 shares during the quarter. EFG Asset Management North America Corp. owned approximately 0.07% of BOX worth $3,282,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in BOX. Pathstone Holdings LLC boosted its stake in BOX by 7.3% in the third quarter. Pathstone Holdings LLC now owns 51,813 shares of the software maker’s stock valued at $1,696,000 after acquiring an additional 3,532 shares during the last quarter. Intech Investment Management LLC bought a new stake in shares of BOX in the 3rd quarter worth approximately $1,190,000. Massachusetts Financial Services Co. MA lifted its stake in BOX by 5.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 89,229 shares of the software maker’s stock valued at $2,920,000 after purchasing an additional 4,766 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in BOX by 10.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,371,815 shares of the software maker’s stock valued at $44,900,000 after purchasing an additional 134,175 shares during the period. Finally, Algert Global LLC increased its position in BOX by 80.3% in the third quarter. Algert Global LLC now owns 140,390 shares of the software maker’s stock worth $4,595,000 after buying an additional 62,540 shares during the last quarter. Hedge funds and other institutional investors own 86.74% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Citigroup upped their price target on BOX from $34.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Morgan Stanley upped their price objective on shares of BOX from $33.00 to $36.00 and gave the company an “equal weight” rating in a report on Wednesday, December 4th. JPMorgan Chase & Co. reduced their target price on shares of BOX from $38.00 to $37.00 and set an “overweight” rating for the company in a research note on Wednesday, March 5th. StockNews.com lowered shares of BOX from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, January 8th. Finally, Bank of America assumed coverage on shares of BOX in a report on Thursday, December 12th. They issued a “buy” rating and a $40.00 price objective for the company. One research 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. Based on data from MarketBeat.com, BOX has an average rating of “Moderate Buy” and a consensus target price of $37.11.

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 shares were sold at an average price of $32.08, for a total transaction of $320,800.00. Following the transaction, the chief executive officer now owns 2,979,780 shares of the company’s stock, valued at approximately $95,591,342.40. This trade represents a 0.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Dylan C. Smith sold 13,000 shares of the business’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $31.05, for a total transaction of $403,650.00. Following the completion of the sale, the chief financial officer now directly owns 1,466,684 shares of the company’s stock, valued at $45,540,538.20. This represents a 0.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 78,363 shares of company stock valued at $2,533,374. Corporate insiders own 4.10% of the company’s stock.

BOX Stock Up 1.5 %

Shares of BOX stock opened at $30.83 on Tuesday. The business has a 50-day moving average price of $32.73 and a two-hundred day moving average price of $32.69. Box, Inc. has a 12-month low of $24.63 and a 12-month high of $35.74. The firm has a market cap of $4.43 billion, a P/E ratio of 38.54, a price-to-earnings-growth ratio of 4.42 and a beta of 1.00.

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

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.