ProShare Advisors LLC Boosts Stock Position in Box, Inc. (NYSE:BOX)

ProShare Advisors LLC increased its holdings in Box, Inc. (NYSE:BOX - Free Report) by 42.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,308 shares of the software maker's stock after purchasing an additional 12,924 shares during the quarter. ProShare Advisors LLC's holdings in BOX were worth $1,369,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Smartleaf Asset Management LLC lifted its holdings in BOX by 715.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,162 shares of the software maker's stock worth $69,000 after buying an additional 1,897 shares during the period. TD Waterhouse Canada Inc. raised its holdings in shares of BOX by 42.4% during the fourth quarter. TD Waterhouse Canada Inc. now owns 2,194 shares of the software maker's stock valued at $69,000 after acquiring an additional 653 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in BOX by 19.3% in the fourth quarter. Farther Finance Advisors LLC now owns 2,579 shares of the software maker's stock worth $81,000 after acquiring an additional 417 shares during the period. SBI Securities Co. Ltd. bought a new stake in BOX in the fourth quarter valued at $132,000. Finally, Plato Investment Management Ltd bought a new stake in BOX in the fourth quarter valued at $134,000. Hedge funds and other institutional investors own 86.74% of the company's stock.

Analyst Upgrades and Downgrades

BOX has been the subject of several research reports. DA Davidson decreased their price objective on shares of BOX from $45.00 to $40.00 and set a "buy" rating for the company in a report on Monday, April 14th. Morgan Stanley decreased their price target on shares of 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 raised BOX from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, May 14th. Raymond James reissued an "outperform" rating and issued a $38.00 target price (down previously from $40.00) on shares of BOX in a research report on Wednesday, March 5th. Finally, JPMorgan Chase & Co. lowered their target price on BOX from $38.00 to $37.00 and set an "overweight" rating for the company in a research note on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $36.44.

Insider Activity

In other BOX news, CFO Dylan C. Smith sold 13,000 shares of the business's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $31.95, for a total value of $415,350.00. Following the sale, the chief financial officer now directly owns 1,440,684 shares of the company's stock, valued at approximately $46,029,853.80. 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 can be accessed through this link. Also, CEO Aaron Levie sold 10,000 shares of the business's stock in a transaction on 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 sale, the chief executive officer now directly owns 2,979,780 shares in the company, valued at $95,591,342.40. This trade represents a 0.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,377 shares of company stock worth $2,060,714. Insiders own 3.90% of the company's stock.

BOX Price Performance

NYSE:BOX opened at $31.56 on Thursday. The firm has a market capitalization of $4.54 billion, a P/E ratio of 39.45, a PEG ratio of 4.42 and a beta of 0.94. Box, Inc. has a one year low of $24.63 and a one year high of $35.74. The company's 50-day simple moving average is $30.74 and its 200 day simple moving average is $32.18.

BOX declared that its board has initiated a stock repurchase program on Tuesday, March 4th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the software maker to buy up to 3.1% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's board of directors believes its shares are 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.

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