Occudo Quantitative Strategies LP Buys 12,982 Shares of Box, Inc. (NYSE:BOX)

Occudo Quantitative Strategies LP lifted its stake in Box, Inc. (NYSE:BOX - Free Report) by 71.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 31,040 shares of the software maker's stock after buying an additional 12,982 shares during the period. Occudo Quantitative Strategies LP's holdings in BOX were worth $981,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Arrowstreet Capital Limited Partnership lifted its stake in BOX by 103.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,386,370 shares of the software maker's stock worth $107,009,000 after purchasing an additional 1,725,197 shares during the last quarter. Norges Bank bought a new stake in BOX during the fourth quarter worth $29,973,000. Jupiter Asset Management Ltd. bought a new stake in BOX during the fourth quarter worth $24,234,000. Fisher Asset Management LLC lifted its stake in BOX by 420.6% during the fourth quarter. Fisher Asset Management LLC now owns 857,498 shares of the software maker's stock worth $27,097,000 after purchasing an additional 692,784 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its stake in BOX by 22.9% during the fourth quarter. Wells Fargo & Company MN now owns 1,633,647 shares of the software maker's stock worth $51,623,000 after purchasing an additional 304,755 shares during the last quarter. 86.74% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BOX has been the topic of several recent research reports. DA Davidson cut their price objective 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 report on Wednesday, March 5th. Royal Bank of Canada reaffirmed an "underperform" rating and set a $21.00 target price on shares of BOX in a report on Wednesday, March 19th. Morgan Stanley cut their target price on BOX from $36.00 to $35.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. Finally, StockNews.com raised BOX from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, May 14th. One analyst has rated the stock with a sell rating, two have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $36.44.

Insider Activity

In other news, CEO Aaron Levie sold 10,000 shares of BOX stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $32.08, for a total transaction of $320,800.00. Following the completion of the transaction, the chief executive officer now directly owns 2,979,780 shares in the company, valued at approximately $95,591,342.40. This trade represents a 0.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Dylan C. Smith sold 13,000 shares of BOX stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $31.95, for a total transaction of $415,350.00. Following the transaction, the chief financial officer now owns 1,440,684 shares of the company's stock, valued at $46,029,853.80. 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 ninety days, insiders sold 66,377 shares of company stock worth $2,060,714. Insiders own 4.10% of the company's stock.

BOX Price Performance

BOX traded down $0.23 on Monday, hitting $32.05. The company had a trading volume of 205,921 shares, compared to its average volume of 1,813,812. Box, Inc. has a 52-week low of $24.63 and a 52-week high of $35.74. The stock has a fifty day simple moving average of $30.68 and a 200-day simple moving average of $32.18. The firm has a market capitalization of $4.61 billion, a P/E ratio of 40.04, a P/E/G ratio of 4.42 and a beta of 0.94.

BOX announced that its Board of Directors has approved a stock repurchase program on Tuesday, March 4th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the software maker to reacquire up to 3.1% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's leadership 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.