Graham Capital Management L.P. Acquires New Stake in Box, Inc. (NYSE:BOX)

Graham Capital Management L.P. acquired a new stake in shares of Box, Inc. (NYSE:BOX - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 51,055 shares of the software maker's stock, valued at approximately $1,613,000.

Several other hedge funds have also recently modified their holdings of the stock. Smartleaf Asset Management LLC boosted its position in BOX by 715.8% in the fourth 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. boosted its position in BOX by 42.4% in the fourth 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 boosted its position in BOX by 19.3% in the fourth 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. purchased a new stake in BOX in the fourth quarter valued at approximately $132,000. Finally, Plato Investment Management Ltd purchased a new stake in BOX in the fourth quarter valued at approximately $134,000. Institutional investors and hedge funds own 86.74% of the company's stock.

Insider Activity

In related news, VP Eli Berkovitch sold 5,651 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $30.66, for a total value of $173,259.66. Following the completion of the transaction, the vice president now directly owns 124,672 shares of the company's stock, valued at approximately $3,822,443.52. This represents a 4.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Olivia Nottebohm sold 1,332 shares of the 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 transaction, the chief operating officer now directly owns 492,545 shares of the company's stock, valued at approximately $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. Insiders have sold 66,377 shares of company stock worth $2,060,714 in the last quarter. Corporate insiders own 4.10% of the company's stock.

BOX Stock Performance

Shares of NYSE:BOX traded up $0.02 during midday trading on Friday, reaching $32.27. 1,429,763 shares of the company's stock traded hands, compared to its average volume of 1,820,176. Box, Inc. has a 1 year low of $24.63 and a 1 year high of $35.74. The company has a market cap of $4.64 billion, a P/E ratio of 40.34, a PEG ratio of 4.42 and a beta of 0.94. The company has a fifty day simple moving average of $30.68 and a two-hundred day simple moving average of $32.18.

BOX declared that its board has approved 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 shares through open market purchases. Shares repurchase plans are generally an indication that the company's board believes its shares are undervalued.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. 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. JPMorgan Chase & Co. lowered their price objective on BOX from $38.00 to $37.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 5th. Royal Bank of Canada restated an "underperform" rating and issued a $21.00 price objective on shares of BOX in a research report on Wednesday, March 19th. Raymond James restated an "outperform" rating and issued a $38.00 price objective (down previously from $40.00) on shares of BOX in a research report on Wednesday, March 5th. Finally, Morgan Stanley lowered their price objective 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. 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. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $36.44.

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.