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

EFG Asset Management North America Corp. increased its holdings in Box, Inc. (NYSE:BOX) by 59.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 103,891 shares of the software maker’s stock after purchasing an additional 38,710 shares during the quarter. EFG Asset Management North America Corp.’s holdings in BOX were worth $3,282,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the business. Congress Wealth Management LLC DE lifted its holdings in BOX by 17.2% in the 4th quarter. Congress Wealth Management LLC DE now owns 227,567 shares of the software maker’s stock worth $7,191,000 after buying an additional 33,395 shares during the period. Summit Creek Advisors LLC raised its holdings in shares of BOX by 35.2% during the fourth quarter. Summit Creek Advisors LLC now owns 226,964 shares of the software maker’s stock valued at $7,172,000 after acquiring an additional 59,113 shares in the last quarter. LPL Financial LLC raised its holdings in shares of BOX by 11.1% during the fourth quarter. LPL Financial LLC now owns 20,757 shares of the software maker’s stock valued at $656,000 after acquiring an additional 2,066 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in BOX in the fourth quarter worth $1,991,000. Finally, Hillsdale Investment Management Inc. boosted its holdings in BOX by 0.8% in the fourth quarter. Hillsdale Investment Management Inc. now owns 179,150 shares of the software maker’s stock valued at $5,661,000 after acquiring an additional 1,400 shares in the last quarter. Hedge funds and other institutional investors own 86.74% of the company’s stock.

BOX Price Performance

Shares of NYSE:BOX opened at $30.83 on Tuesday. The business has a fifty day moving average price of $32.73 and a 200-day moving average price of $32.69. The company has a market capitalization of $4.43 billion, a PE ratio of 38.54, a PEG ratio of 4.42 and a beta of 1.00. Box, Inc. has a 1-year low of $24.63 and a 1-year high of $35.74.

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

Analyst Ratings Changes

Several brokerages have commented on BOX. Royal Bank of Canada restated an “underperform” rating and issued a $21.00 price objective on shares of BOX in a report on Wednesday, March 19th. Morgan Stanley increased their price target on shares of BOX from $33.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 4th. StockNews.com cut 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, Bank of America started coverage on BOX in a research note on Thursday, December 12th. They issued a “buy” rating and a $40.00 target price for the company. 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 stock. According to MarketBeat, BOX presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.11.

Insider Activity at BOX

In other BOX news, CFO Dylan C. Smith sold 13,000 shares of the 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 sale, the chief financial officer now directly owns 1,466,684 shares in the company, valued at approximately $45,540,538.20. This trade represents a 0.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Eli Berkovitch sold 4,791 shares of the business’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $31.06, for a total value of $148,808.46. Following the completion of the transaction, the vice president now owns 132,741 shares of the company’s stock, valued at $4,122,935.46. This represents a 3.48 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 78,363 shares of company stock valued at $2,533,374. 4.10% of the stock is owned by insiders.

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.