Bessemer Group Inc. Cuts Holdings in Box, Inc. (NYSE:BOX)

Bessemer Group Inc. trimmed its holdings in shares of Box, Inc. (NYSE:BOX - Free Report) by 81.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,491 shares of the software maker's stock after selling 19,821 shares during the quarter. Bessemer Group Inc.'s holdings in BOX were worth $142,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Arrowstreet Capital Limited Partnership raised its position in shares of BOX by 103.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,386,370 shares of the software maker's stock worth $107,009,000 after acquiring an additional 1,725,197 shares in the last quarter. Sei Investments Co. raised its holdings in BOX by 8.4% in 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. Geode Capital Management LLC lifted its position in shares of BOX by 0.4% during the third quarter. Geode Capital Management LLC now owns 3,249,823 shares of the software maker's stock valued at $106,387,000 after buying an additional 13,028 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of BOX by 11.8% in the 4th quarter. Renaissance Technologies LLC now owns 2,205,926 shares of the software maker's stock valued at $69,707,000 after buying an additional 233,100 shares in the last quarter. Finally, Congress Asset Management Co. grew its position in shares of BOX by 17.5% in the 4th quarter. Congress Asset Management Co. now owns 1,659,646 shares of the software maker's stock worth $52,445,000 after buying an additional 246,993 shares during the last quarter. Institutional investors own 86.74% of the company's stock.

Wall Street Analyst Weigh In

BOX has been the subject of several recent analyst reports. Raymond James restated an "outperform" rating and issued a $38.00 target price (down from $40.00) on shares of BOX in a research note on Wednesday, March 5th. StockNews.com lowered BOX from a "strong-buy" rating to a "buy" rating in a report on Wednesday, January 8th. 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 note on Wednesday, March 5th. Royal Bank of Canada reiterated an "underperform" rating and issued a $21.00 price target on shares of BOX in a research note on Wednesday, March 19th. Finally, DA Davidson dropped their price target on BOX from $45.00 to $40.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, BOX currently has a consensus rating of "Moderate Buy" and a consensus price target of $36.44.

Insider Buying and Selling

In other news, CEO Aaron Levie sold 10,000 shares of the business's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $32.08, for a total value of $320,800.00. Following the completion of the transaction, the chief executive officer now owns 2,979,780 shares of the company's stock, valued at $95,591,342.40. The trade was a 0.33 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Dylan C. Smith sold 13,000 shares of the company's stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $34.32, for a total value of $446,160.00. Following the completion of the sale, the chief financial officer now owns 1,453,684 shares in the company, valued at $49,890,434.88. The trade was a 0.89 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 66,917 shares of company stock worth $2,135,905. 4.10% of the stock is owned by company insiders.

BOX Trading Up 1.7 %

Shares of BOX stock traded up $0.49 during mid-day trading on Tuesday, reaching $29.80. The stock had a trading volume of 1,798,650 shares, compared to its average volume of 1,817,085. 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 $4.29 billion, a price-to-earnings ratio of 37.25, a PEG ratio of 4.42 and a beta of 0.96. The business's fifty day moving average is $31.42 and its 200-day moving average is $32.30.

BOX announced that its board has approved a stock buyback program on Tuesday, March 4th that authorizes the company to repurchase $150.00 million in outstanding 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 often an indication that the company's management believes its stock is 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.