BI Asset Management Fondsmaeglerselskab A S Makes New Investment in Box, Inc. (NYSE:BOX)

BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Box, Inc. (NYSE:BOX - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 115,139 shares of the software maker's stock, valued at approximately $3,638,000. BI Asset Management Fondsmaeglerselskab A S owned 0.08% of BOX as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in BOX. Smartleaf Asset Management LLC grew its stake in shares of BOX by 715.8% in 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 boosted its stake in shares of BOX by 19.3% in the fourth quarter. Farther Finance Advisors LLC now owns 2,579 shares of the software maker's stock valued at $81,000 after buying an additional 417 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of BOX during the 4th quarter valued at $132,000. Plato Investment Management Ltd acquired a new stake in shares of BOX during the 4th quarter worth approximately $134,000. Finally, KBC Group NV boosted its holdings in shares of BOX by 35.7% in the 4th quarter. KBC Group NV now owns 5,403 shares of the software maker's stock valued at $171,000 after purchasing an additional 1,420 shares in the last quarter. 86.74% of the stock is owned by institutional investors and hedge funds.

BOX Trading Up 0.6 %

BOX traded up $0.18 during trading on Friday, hitting $30.96. 789,046 shares of the company's stock traded hands, compared to its average volume of 1,816,751. Box, Inc. has a 12-month low of $24.63 and a 12-month high of $35.74. The company's 50 day simple moving average is $31.14 and its two-hundred day simple moving average is $32.27. The stock has a market capitalization of $4.45 billion, a price-to-earnings ratio of 38.70, a PEG ratio of 4.42 and a beta of 0.96.

BOX announced that its Board of Directors has approved a stock repurchase plan on Tuesday, March 4th that allows the company to buyback $150.00 million in shares. This buyback authorization allows the software maker to buy up to 3.1% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Royal Bank of Canada reiterated an "underperform" rating and issued a $21.00 price objective on shares of BOX in a report on Wednesday, March 19th. Raymond James reaffirmed an "outperform" rating and set a $38.00 price target (down from $40.00) on shares of BOX in a research note on Wednesday, March 5th. StockNews.com cut shares of BOX from a "strong-buy" rating to a "buy" rating in a report on Wednesday, January 8th. JPMorgan Chase & Co. dropped their price objective on BOX from $38.00 to $37.00 and set an "overweight" rating on the stock in a research note on Wednesday, March 5th. Finally, Morgan Stanley cut their target price on BOX from $36.00 to $35.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, BOX currently has an average rating of "Moderate Buy" and an average target price of $36.44.

Insider Buying and Selling at BOX

In other news, COO Olivia Nottebohm sold 6,079 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $34.42, for a total transaction of $209,239.18. Following the completion of the transaction, the chief operating officer now directly owns 440,988 shares in the company, valued at approximately $15,178,806.96. This represents a 1.36 % 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, VP Eli Berkovitch sold 5,651 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $30.66, for a total value of $173,259.66. Following the completion of the sale, the vice president now directly owns 124,672 shares of the company's stock, valued at $3,822,443.52. The trade was a 4.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 69,022 shares of company stock worth $2,198,045 in the last three months. 4.10% of the stock is currently owned by company insiders.

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.