Blueshift Asset Management LLC Acquires Shares of 9,119 Box, Inc. (NYSE:BOX)

Blueshift Asset Management LLC bought a new position in shares of Box, Inc. (NYSE:BOX) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 9,119 shares of the software maker’s stock, valued at approximately $288,000.

A number of other institutional investors also recently modified their holdings of BOX. Itau Unibanco Holding S.A. purchased a new stake in BOX in the 3rd quarter worth approximately $36,000. Smartleaf Asset Management LLC raised its holdings in shares of BOX by 715.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,162 shares of the software maker’s stock valued at $69,000 after acquiring an additional 1,897 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in BOX by 19.3% in the fourth 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 during the period. SBI Securities Co. Ltd. purchased a new stake in BOX in the fourth quarter worth $132,000. Finally, Plato Investment Management Ltd bought a new stake in BOX in the fourth quarter valued at $134,000. 86.74% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, COO Olivia Nottebohm sold 12,414 shares of the company’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 value of $395,385.90. Following the transaction, the chief operating officer now owns 453,146 shares in the company, valued at approximately $14,432,700.10. This represents a 2.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through 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 sale, the chief executive officer now owns 2,979,780 shares in the company, valued at approximately $95,591,342.40. The trade was a 0.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 78,363 shares of company stock worth $2,533,374 in the last quarter. Corporate insiders own 4.10% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on BOX shares. 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. Royal Bank of Canada restated an “underperform” rating and issued a $21.00 price objective on shares of BOX in a report on Wednesday. JPMorgan Chase & Co. reduced their target price on BOX from $38.00 to $37.00 and set an “overweight” rating on the stock in a report on Wednesday, March 5th. Citigroup raised their target price on BOX from $34.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, Raymond James reaffirmed an “outperform” rating and issued a $38.00 price target (down from $40.00) on shares of BOX in a research note on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $37.11.

BOX Trading Up 0.4 %

NYSE BOX opened at $30.35 on Friday. Box, Inc. has a 12 month low of $24.63 and a 12 month high of $35.74. The stock’s fifty day moving average price is $32.73 and its 200-day moving average price is $32.70. The stock has a market cap of $4.36 billion, a P/E ratio of 37.93, a P/E/G ratio of 4.42 and a beta of 1.00.

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

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.