Prudential Financial Inc. Trims Position in Box, Inc. (NYSE:BOX)

Prudential Financial Inc. lowered its position in Box, Inc. (NYSE:BOX) by 6.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 377,586 shares of the software maker’s stock after selling 24,820 shares during the quarter. Prudential Financial Inc. owned about 0.26% of BOX worth $11,932,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BOX. Charles Schwab Investment Management Inc. boosted its holdings in BOX by 10.8% in the 3rd 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 last quarter. Beacon Harbor Wealth Advisors Inc. acquired a new position in BOX in the fourth quarter valued at approximately $5,997,000. Townsquare Capital LLC purchased a new position in BOX in the third quarter worth approximately $2,021,000. Robeco Institutional Asset Management B.V. acquired a new stake in BOX during the fourth quarter worth $981,000. Finally, Petrus Trust Company LTA purchased a new stake in BOX in the third quarter valued at $615,000. 86.74% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other BOX news, CFO Dylan C. Smith sold 13,000 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $31.05, for a total transaction of $403,650.00. Following the completion of the transaction, the chief financial officer now owns 1,466,684 shares in the company, valued at $45,540,538.20. The trade was a 0.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Aaron Levie sold 10,000 shares of the stock in a transaction that occurred 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 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 represents a 0.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 73,705 shares of company stock worth $2,375,998 in the last quarter. 4.10% of the stock is owned by company insiders.

BOX Trading Down 1.7 %

Shares of NYSE BOX opened at $31.12 on Friday. The stock has a market cap of $4.47 billion, a P/E ratio of 38.90, a PEG ratio of 4.42 and a beta of 1.00. The business’s fifty day simple moving average is $32.69 and its 200-day simple moving average is $32.65. Box, Inc. has a 12-month low of $24.63 and a 12-month high of $35.74.

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

Analysts Set New Price Targets

BOX has been the topic of several research analyst reports. JPMorgan Chase & Co. reduced their price objective on shares of BOX from $38.00 to $37.00 and set an “overweight” rating on the stock in a report on Wednesday, March 5th. Morgan Stanley boosted their price target on shares of BOX from $33.00 to $36.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 4th. StockNews.com cut shares of BOX from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, January 8th. DA Davidson reissued a “buy” rating and issued a $45.00 target price on shares of BOX in a research report on Wednesday, March 19th. Finally, Citigroup raised their price target on BOX from $34.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, BOX has a consensus rating of “Moderate Buy” and a consensus price target of $37.11.

About BOX

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.