Congress Asset Management Co. Boosts Stock Holdings in Box, Inc. (NYSE:BOX)

Congress Asset Management Co. lifted its position in Box, Inc. (NYSE:BOX) by 17.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,659,646 shares of the software maker’s stock after acquiring an additional 246,993 shares during the quarter. Congress Asset Management Co.’s holdings in BOX were worth $52,445,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in BOX. Blue Trust Inc. grew its position in BOX by 6.6% in the 4th quarter. Blue Trust Inc. now owns 13,961 shares of the software maker’s stock worth $441,000 after purchasing an additional 863 shares in the last quarter. New York State Teachers Retirement System grew its holdings in shares of BOX by 27.7% in the fourth quarter. New York State Teachers Retirement System now owns 63,528 shares of the software maker’s stock valued at $2,007,000 after acquiring an additional 13,789 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of BOX by 182.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 39,608 shares of the software maker’s stock valued at $1,241,000 after acquiring an additional 25,587 shares during the last quarter. Summit Trail Advisors LLC lifted its holdings in BOX by 29.2% during the fourth quarter. Summit Trail Advisors LLC now owns 26,596 shares of the software maker’s stock worth $840,000 after acquiring an additional 6,017 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in BOX by 2.6% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 17,340 shares of the software maker’s stock worth $548,000 after acquiring an additional 442 shares during the period. Hedge funds and other institutional investors own 86.74% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. DA Davidson began coverage on BOX in a research report on Wednesday, December 18th. They set a “buy” rating and a $45.00 target price for the company. StockNews.com downgraded shares of BOX from a “strong-buy” rating to a “buy” rating in a report on Wednesday, January 8th. Royal Bank of Canada reiterated an “underperform” rating and issued a $21.00 target price on shares of BOX in a research note on Wednesday, December 4th. UBS Group raised their price target on shares of BOX from $34.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Finally, Bank of America initiated coverage on BOX in a research note on Thursday, December 12th. They issued a “buy” rating and a $40.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $35.89.

Insider Activity at BOX

In related news, COO Olivia Nottebohm sold 12,414 shares of the business’s stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $31.85, for a total transaction of $395,385.90. Following the completion of the transaction, the chief operating officer now owns 453,146 shares of the company’s stock, valued at approximately $14,432,700.10. The trade was a 2.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Dylan C. Smith sold 13,000 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $32.33, for a total transaction of $420,290.00. Following the completion of the sale, the chief financial officer now owns 1,448,509 shares in the company, valued at $46,830,295.97. This represents a 0.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 89,041 shares of company stock worth $2,889,758. 4.10% of the stock is owned by company insiders.

BOX Price Performance

Shares of BOX stock opened at $35.34 on Friday. The stock has a market capitalization of $5.08 billion, a price-to-earnings ratio of 44.17, a PEG ratio of 4.40 and a beta of 0.88. The company’s fifty day simple moving average is $32.46 and its two-hundred day simple moving average is $32.06. Box, Inc. has a 1 year low of $24.56 and a 1 year high of $35.74.

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.