Canada Pension Plan Investment Board Buys 127,800 Shares of Box, Inc. (NYSE:BOX)

Canada Pension Plan Investment Board increased its holdings in shares of Box, Inc. (NYSE:BOX - Free Report) by 67.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 317,800 shares of the software maker's stock after acquiring an additional 127,800 shares during the quarter. Canada Pension Plan Investment Board owned about 0.22% of BOX worth $10,042,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of BOX. Marshall Wace LLP raised its stake in BOX by 153.5% in the fourth quarter. Marshall Wace LLP now owns 157,375 shares of the software maker's stock valued at $4,973,000 after purchasing an additional 95,302 shares in the last quarter. Bridgewater Associates LP boosted its holdings in shares of BOX by 1.2% in the 4th quarter. Bridgewater Associates LP now owns 114,686 shares of the software maker's stock valued at $3,624,000 after purchasing an additional 1,414 shares in the last quarter. Barclays PLC increased its stake in shares of BOX by 15.7% in the 4th quarter. Barclays PLC now owns 415,222 shares of the software maker's stock valued at $13,121,000 after purchasing an additional 56,328 shares during the last quarter. Summit Investment Advisors Inc. raised its holdings in shares of BOX by 4.7% during the 4th quarter. Summit Investment Advisors Inc. now owns 14,733 shares of the software maker's stock worth $466,000 after buying an additional 664 shares in the last quarter. Finally, Townsquare Capital LLC lifted its position in shares of BOX by 49.7% during the 4th quarter. Townsquare Capital LLC now owns 92,412 shares of the software maker's stock worth $2,920,000 after buying an additional 30,666 shares during the last quarter. Institutional investors and hedge funds own 86.74% of the company's stock.

BOX Trading Up 0.6 %

NYSE BOX traded up $0.18 during trading hours on Friday, hitting $30.96. 789,046 shares of the company's stock were exchanged, compared to its average volume of 1,819,608. Box, Inc. has a 1-year low of $24.63 and a 1-year high of $35.74. The stock has a 50-day simple moving average of $31.14 and a 200 day simple moving average of $32.27. The firm has a market cap 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 declared that its Board of Directors has initiated a share 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 repurchase up to 3.1% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.

Analyst Ratings Changes

Several research analysts have commented on BOX shares. Morgan Stanley lowered their target price on BOX from $36.00 to $35.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. StockNews.com downgraded shares of BOX from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, January 8th. Raymond James reaffirmed an "outperform" rating and set a $38.00 target price (down previously from $40.00) on shares of BOX in a research note on Wednesday, March 5th. DA Davidson dropped their price target on BOX from $45.00 to $40.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Finally, Royal Bank of Canada restated an "underperform" rating and set a $21.00 price objective on shares of BOX in a research report 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 given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $36.44.

Insider Transactions at BOX

In other news, CFO Dylan C. Smith sold 13,000 shares of the business's stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $34.32, for a total transaction 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Olivia Nottebohm sold 1,332 shares of BOX stock in a transaction on Monday, April 7th. The shares were sold at an average price of $29.01, for a total transaction of $38,641.32. Following the completion of the sale, the chief operating officer now directly owns 492,545 shares of the company's stock, valued at approximately $14,288,730.45. The trade was a 0.27 % 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 quarter. 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.