Box, Inc. (NYSE:BOX) Shares Acquired by Martingale Asset Management L P

Martingale Asset Management L P grew its position in Box, Inc. (NYSE:BOX - Free Report) by 12.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 85,194 shares of the software maker's stock after buying an additional 9,105 shares during the quarter. Martingale Asset Management L P owned 0.06% of BOX worth $2,692,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Smartleaf Asset Management LLC raised its stake in BOX by 715.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,162 shares of the software maker's stock worth $69,000 after purchasing an additional 1,897 shares during the period. Farther Finance Advisors LLC raised its position in BOX by 19.3% during 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 period. SBI Securities Co. Ltd. bought a new stake in BOX in the fourth quarter worth approximately $132,000. Plato Investment Management Ltd acquired a new position in shares of BOX during the 4th quarter worth about $134,000. Finally, KBC Group NV grew its holdings in shares of BOX by 35.7% during the 4th quarter. KBC Group NV now owns 5,403 shares of the software maker's stock worth $171,000 after purchasing an additional 1,420 shares in the last quarter. 86.74% of the stock is owned by hedge funds and other institutional investors.

BOX Stock Performance

Shares of NYSE:BOX traded up $0.28 during midday trading on Wednesday, reaching $30.23. 363,872 shares of the company's stock were exchanged, compared to its average volume of 1,814,168. The company's 50 day simple moving average is $31.93 and its two-hundred day simple moving average is $32.38. Box, Inc. has a 12 month low of $24.63 and a 12 month high of $35.74. The firm has a market capitalization of $4.35 billion, a PE ratio of 37.79, a price-to-earnings-growth ratio of 4.42 and a beta of 0.96.

BOX announced that its board has authorized a share buyback program on Tuesday, March 4th that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the software maker to buy up to 3.1% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board of directors believes its shares are undervalued.

Analyst Ratings Changes

BOX has been the topic of several recent analyst reports. Raymond James reiterated an "outperform" rating and set a $38.00 target price (down from $40.00) on shares of BOX in a report on Wednesday, March 5th. JPMorgan Chase & Co. reduced 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. Morgan Stanley dropped their target price on shares of BOX from $36.00 to $35.00 and set an "equal weight" rating on the stock in a research note on Wednesday. DA Davidson dropped their target price on shares of BOX from $45.00 to $40.00 and set a "buy" rating for the company in a research report on Monday. Finally, StockNews.com lowered shares of BOX from a "strong-buy" rating to a "buy" rating in a report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $36.44.

Insiders Place Their Bets

In other BOX news, COO Olivia Nottebohm sold 6,079 shares of the company's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $34.42, for a total value of $209,239.18. Following the completion of the sale, the chief operating officer now directly owns 440,988 shares of the company's stock, valued at approximately $15,178,806.96. This represents a 1.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Dylan C. Smith sold 13,000 shares of the firm's stock in a transaction on Monday, February 10th. The shares were sold at an average price of $34.32, for a total transaction of $446,160.00. Following the completion of the transaction, the chief financial officer now directly owns 1,453,684 shares of the company's stock, valued at approximately $49,890,434.88. The trade was a 0.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 72,996 shares of company stock valued at $2,329,886. 4.10% of the stock is currently owned by corporate insiders.

BOX 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.