Arrowstreet Capital Limited Partnership Grows Stock Position in Box, Inc. (NYSE:BOX)

Arrowstreet Capital Limited Partnership boosted its stake in shares of Box, Inc. (NYSE:BOX) by 103.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,386,370 shares of the software maker’s stock after purchasing an additional 1,725,197 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 2.36% of BOX worth $107,009,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Janney Montgomery Scott LLC grew its position in shares of BOX by 5.3% during the fourth quarter. Janney Montgomery Scott LLC now owns 7,807 shares of the software maker’s stock worth $247,000 after buying an additional 391 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in BOX by 19.3% during the 4th quarter. Farther Finance Advisors LLC now owns 2,579 shares of the software maker’s stock worth $81,000 after acquiring an additional 417 shares in the last quarter. Sanctuary Advisors LLC increased its position in shares of BOX by 1.2% in the 4th quarter. Sanctuary Advisors LLC now owns 35,775 shares of the software maker’s stock valued at $1,189,000 after purchasing an additional 423 shares during the last quarter. Aspiriant LLC raised its holdings in shares of BOX by 5.0% in the 4th quarter. Aspiriant LLC now owns 9,048 shares of the software maker’s stock valued at $286,000 after purchasing an additional 427 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of BOX by 2.6% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 17,340 shares of the software maker’s stock worth $548,000 after purchasing an additional 442 shares during the last quarter. Hedge funds and other institutional investors own 86.74% of the company’s stock.

Insiders Place Their Bets

In other news, VP Eli Berkovitch sold 4,791 shares of BOX stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $31.06, for a total value of $148,808.46. Following the sale, the vice president now owns 132,741 shares of the company’s stock, valued at $4,122,935.46. The trade was a 3.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Dylan C. Smith sold 13,000 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer now owns 1,466,684 shares of the company’s stock, valued at approximately $45,540,538.20. The trade was a 0.88 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 73,705 shares of company stock valued at $2,375,998. 4.10% of the stock is owned by company insiders.

BOX Stock Performance

Shares of BOX opened at $31.12 on Monday. Box, Inc. has a fifty-two week low of $24.63 and a fifty-two week high of $35.74. The firm has a 50-day simple moving average of $32.69 and a 200-day simple moving average of $32.65. The company has a market capitalization of $4.47 billion, a price-to-earnings ratio of 38.90, a price-to-earnings-growth ratio of 4.42 and a beta of 1.00.

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

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on BOX shares. UBS Group raised their price target on BOX from $34.00 to $42.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. DA Davidson restated a “buy” rating and set a $45.00 target price on shares of BOX in a research note on Wednesday, March 19th. StockNews.com lowered shares of BOX from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, January 8th. Royal Bank of Canada restated an “underperform” rating and set a $21.00 price objective on shares of BOX in a research report on Wednesday, March 19th. Finally, Raymond James reaffirmed an “outperform” rating and issued a $38.00 target price (down from $40.00) on shares of BOX in a research report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $37.11.

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.