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

Arrowstreet Capital Limited Partnership lifted its position in shares of Box, Inc. (NYSE:BOX) by 103.9% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 3,386,370 shares of the software maker’s stock after acquiring an additional 1,725,197 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in BOX were worth $107,009,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Horizon Investment Services LLC purchased a new position in shares of BOX during the 4th quarter worth approximately $243,000. Pictet Asset Management Holding SA raised its holdings in shares of BOX by 19.4% in the fourth quarter. Pictet Asset Management Holding SA now owns 21,324 shares of the software maker’s stock worth $674,000 after acquiring an additional 3,461 shares during the last quarter. New Age Alpha Advisors LLC purchased a new stake in shares of BOX in the fourth quarter valued at $247,000. Norges Bank acquired a new stake in shares of BOX during the fourth quarter valued at $29,973,000. Finally, Elo Mutual Pension Insurance Co purchased a new stake in BOX during the 4th quarter worth about $429,000. 86.74% of the stock is owned by institutional investors and hedge funds.

BOX Price Performance

NYSE BOX opened at $31.12 on Monday. Box, Inc. has a 1-year low of $24.63 and a 1-year high of $35.74. The firm has a market capitalization of $4.47 billion, a P/E ratio of 38.90, a P/E/G ratio of 4.42 and a beta of 1.00. The business’s 50-day simple moving average is $32.69 and its 200-day simple moving average is $32.65.

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

Insider Buying and Selling at BOX

In related news, VP Eli Berkovitch sold 4,791 shares of BOX stock in a transaction on Friday, January 10th. The shares were sold at an average price of $31.06, for a total transaction of $148,808.46. Following the transaction, the vice president now owns 132,741 shares in the company, valued at approximately $4,122,935.46. The trade was a 3.48 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Olivia Nottebohm sold 6,079 shares of the stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $31.91, for a total value of $193,980.89. Following the completion of the sale, the chief operating officer now owns 447,067 shares of the company’s stock, valued at approximately $14,265,907.97. This represents a 1.34 % 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 valued at $2,375,998 over the last ninety days. Corporate insiders own 4.10% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Citigroup upped their target price on shares of BOX from $34.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Morgan Stanley raised their target price on shares of BOX from $33.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 4th. Royal Bank of Canada reiterated an “underperform” rating and issued a $21.00 price target on shares of BOX in a report on Wednesday, March 19th. UBS Group raised their price objective on BOX from $34.00 to $42.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, DA Davidson reiterated a “buy” rating and issued a $45.00 target price on shares of BOX in a research note on Wednesday, March 19th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $37.11.

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.