270,592 Shares in Box, Inc. (NYSE:BOX) Purchased by Freestone Grove Partners LP

Freestone Grove Partners LP bought a new stake in Box, Inc. (NYSE:BOX - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 270,592 shares of the software maker's stock, valued at approximately $8,551,000. Freestone Grove Partners LP owned about 0.19% of BOX as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the business. Integrated Quantitative Investments LLC acquired a new position in shares of BOX in the fourth quarter valued at approximately $1,418,000. Bryce Point Capital LLC purchased a new position in BOX during the 4th quarter worth $1,620,000. Beacon Harbor Wealth Advisors Inc. acquired a new stake in shares of BOX in the 4th quarter worth $5,997,000. Robeco Institutional Asset Management B.V. acquired a new position in shares of BOX during the fourth quarter worth about $981,000. Finally, Sei Investments Co. raised its holdings in BOX by 8.4% during the fourth quarter. Sei Investments Co. now owns 3,286,619 shares of the software maker's stock worth $103,857,000 after purchasing an additional 255,623 shares in the last quarter. Institutional investors and hedge funds own 86.74% of the company's stock.

Insider Activity

In other BOX news, COO Olivia Nottebohm sold 2,105 shares of the company's stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $29.52, for a total value of $62,139.60. Following the completion of the transaction, the chief operating officer now owns 561,132 shares in the company, valued at $16,564,616.64. This represents a 0.37 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Eli Berkovitch sold 5,651 shares of BOX stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $30.66, for a total transaction of $173,259.66. Following the sale, the vice president now owns 124,672 shares in the company, valued at $3,822,443.52. This represents a 4.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 69,022 shares of company stock valued at $2,198,045 in the last 90 days. 4.10% of the stock is currently owned by insiders.

BOX Stock Up 0.5 %

Shares of NYSE:BOX traded up $0.14 during midday trading on Wednesday, reaching $30.95. The company's stock had a trading volume of 1,022,055 shares, compared to its average volume of 1,813,206. The business has a 50 day moving average price of $30.80 and a 200 day moving average price of $32.20. Box, Inc. has a 1 year low of $24.63 and a 1 year high of $35.74. The firm has a market cap of $4.45 billion, a price-to-earnings ratio of 38.69, a price-to-earnings-growth ratio of 4.42 and a beta of 0.94.

BOX declared that its Board of Directors has initiated a share buyback plan on Tuesday, March 4th that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the software maker to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research firms have issued reports on BOX. JPMorgan Chase & Co. dropped their target price on BOX from $38.00 to $37.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 5th. Morgan Stanley reduced their target price on BOX from $36.00 to $35.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. StockNews.com downgraded shares of BOX from a "strong-buy" rating to a "buy" rating in a report on Wednesday, January 8th. Royal Bank of Canada restated an "underperform" rating and set a $21.00 target price on shares of BOX in a research report on Wednesday, March 19th. Finally, DA Davidson reduced their price objective on BOX from $45.00 to $40.00 and set a "buy" rating for the company in a report on Monday, April 14th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $36.44.

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.