Two Sigma Investments LP Has $18.64 Million Stock Position in Box, Inc. (NYSE:BOX)

Two Sigma Investments LP lowered its holdings in shares of Box, Inc. (NYSE:BOX - Free Report) by 11.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 589,741 shares of the software maker's stock after selling 74,596 shares during the quarter. Two Sigma Investments LP owned 0.41% of BOX worth $18,636,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Royal Bank of Canada reissued an "underperform" rating and issued a $21.00 target price on shares of BOX in a research report on Wednesday, March 19th. DA Davidson dropped their target price on BOX from $45.00 to $40.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Morgan Stanley dropped their target price on BOX from $36.00 to $35.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Wall Street Zen upgraded BOX from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, May 14th. Finally, JPMorgan Chase & Co. decreased their price target 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 analyst has rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, BOX currently has a consensus rating of "Moderate Buy" and an average target price of $36.44.

Insider Transactions at BOX

In related news, 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. The trade was a 0.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Olivia Nottebohm sold 1,332 shares of the business's stock in a transaction on Monday, April 7th. The shares were sold at an average price of $29.01, for a total value of $38,641.32. Following the completion of the sale, the chief operating officer now owns 492,545 shares of the company's stock, valued at $14,288,730.45. This trade represents a 0.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 66,377 shares of company stock worth $2,060,714. 3.90% of the stock is owned by company insiders.

BOX Stock Down 0.4%

Shares of NYSE BOX traded down $0.14 during midday trading on Monday, hitting $31.12. 1,665,587 shares of the company's stock were exchanged, compared to its average volume of 1,822,181. Box, Inc. has a 12 month low of $24.63 and a 12 month high of $35.74. The company's 50 day moving average price is $30.75 and its 200 day moving average price is $32.13. The firm has a market capitalization 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 announced that its board has initiated a stock buyback 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 often a sign that the company's board of directors believes its stock is 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.