Gotham Asset Management LLC Acquires New Shares in Box, Inc. (NYSE:BOX)

Gotham Asset Management LLC bought a new stake in Box, Inc. (NYSE:BOX - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 9,730 shares of the software maker's stock, valued at approximately $307,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Graham Capital Management L.P. acquired a new stake in BOX in the fourth quarter valued at approximately $1,613,000. Focus Partners Wealth lifted its holdings in shares of BOX by 2.3% in the 4th quarter. Focus Partners Wealth now owns 124,498 shares of the software maker's stock worth $3,934,000 after purchasing an additional 2,816 shares in the last quarter. Emmett Investment Management LP bought a new position in shares of BOX in the 4th quarter worth $4,538,000. Ensign Peak Advisors Inc grew its position in BOX by 22.2% in the 4th quarter. Ensign Peak Advisors Inc now owns 114,955 shares of the software maker's stock valued at $3,633,000 after purchasing an additional 20,847 shares during the period. Finally, D. E. Shaw & Co. Inc. grew its position in BOX by 28.5% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 433,390 shares of the software maker's stock valued at $13,695,000 after purchasing an additional 96,147 shares during the period. 86.74% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Raymond James reissued an "outperform" rating and set a $38.00 target price (down from $40.00) on shares of BOX in a research report on Wednesday, March 5th. Morgan Stanley decreased their price objective on BOX from $36.00 to $35.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. DA Davidson dropped their target price on BOX from $45.00 to $40.00 and set a "buy" rating on the stock in a report on Monday, April 14th. JPMorgan Chase & Co. cut 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. Finally, Royal Bank of Canada reissued an "underperform" rating and issued a $21.00 price target on shares of BOX in a research report on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, BOX presently has a consensus rating of "Moderate Buy" and an average target price of $36.44.

Insider Activity at BOX

In related news, VP Eli Berkovitch sold 5,651 shares of the company'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 transaction of $173,259.66. Following the sale, the vice president now directly owns 124,672 shares in the company, valued at approximately $3,822,443.52. This represents a 4.34% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Olivia Nottebohm sold 1,332 shares of BOX stock in a transaction that occurred 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 transaction, the chief operating officer now owns 492,545 shares of the company's stock, valued at $14,288,730.45. This represents a 0.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 66,377 shares of company stock worth $2,060,714. Insiders own 3.90% of the company's stock.

BOX Stock Performance

BOX stock traded down $0.14 during mid-day trading on Monday, hitting $31.12. The company had a trading volume of 1,665,587 shares, compared to its average volume of 1,822,181. The firm has a market cap of $4.47 billion, a PE ratio of 38.90, a price-to-earnings-growth ratio of 4.42 and a beta of 0.94. Box, Inc. has a 12 month low of $24.63 and a 12 month high of $35.74. The stock's fifty day moving average price is $30.76 and its two-hundred day moving average price is $32.11.

BOX declared that its board has approved a share repurchase plan on Tuesday, March 4th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the software maker to purchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management believes its shares are undervalued.

About BOX

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.