Blueshift Asset Management LLC Invests $288,000 in Box, Inc. (NYSE:BOX)

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

Other institutional investors also recently bought and sold shares of the company. Jupiter Asset Management Ltd. purchased a new stake in shares of BOX during the 4th quarter valued at about $24,234,000. Fisher Asset Management LLC increased its holdings in BOX by 420.6% during the fourth quarter. Fisher Asset Management LLC now owns 857,498 shares of the software maker’s stock valued at $27,097,000 after buying an additional 692,784 shares during the last quarter. Raymond James Financial Inc. bought a new position in BOX in the fourth quarter worth approximately $8,405,000. Congress Asset Management Co. boosted its stake in shares of BOX by 17.5% during the 4th quarter. Congress Asset Management Co. now owns 1,659,646 shares of the software maker’s stock worth $52,445,000 after acquiring an additional 246,993 shares during the last quarter. Finally, Madison Investment Advisors LLC purchased a new stake in shares of BOX in the 4th quarter worth $6,283,000. Institutional investors own 86.74% of the company’s stock.

Insider Buying and Selling at BOX

In other news, CFO Dylan C. Smith sold 13,000 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $31.95, for a total transaction of $415,350.00. Following the completion of the transaction, the chief financial officer now directly owns 1,440,684 shares in the company, valued at approximately $46,029,853.80. This represents a 0.89 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Aaron Levie sold 10,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 2,979,780 shares of the company’s stock, valued at approximately $95,591,342.40. This trade represents a 0.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 78,363 shares of company stock worth $2,533,374. Insiders own 4.10% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on BOX. Citigroup lifted their target price on BOX from $34.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Morgan Stanley lifted their price objective on BOX from $33.00 to $36.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 4th. Raymond James reissued an “outperform” rating and issued a $38.00 target price (down from $40.00) on shares of BOX in a report on Wednesday, March 5th. Royal Bank of Canada reaffirmed an “underperform” rating and set a $21.00 price target on shares of BOX in a report on Wednesday. Finally, StockNews.com cut shares of BOX from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, January 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $37.11.

BOX Stock Performance

BOX stock opened at $30.35 on Friday. The company’s fifty day moving average price is $32.73 and its 200-day moving average price is $32.70. Box, Inc. has a one year low of $24.63 and a one year high of $35.74. The company has a market capitalization of $4.36 billion, a PE ratio of 37.93, a price-to-earnings-growth ratio of 4.42 and a beta of 1.00.

BOX declared that its board has approved a stock buyback plan on Tuesday, March 4th that allows the company to buyback $150.00 million in shares. This buyback authorization allows the software maker to reacquire up to 3.1% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its shares are 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.