Quantessence Capital LLC Takes Position in Box, Inc. (NYSE:BOX)

Quantessence Capital LLC acquired a new position in shares of Box, Inc. (NYSE:BOX - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 9,472 shares of the software maker's stock, valued at approximately $299,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC boosted its stake 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 acquiring an additional 1,897 shares in the last quarter. TD Waterhouse Canada Inc. lifted its holdings 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 acquiring an additional 653 shares during the period. Farther Finance Advisors LLC grew its stake in shares of BOX by 19.3% during the 4th quarter. Farther Finance Advisors LLC now owns 2,579 shares of the software maker's stock worth $81,000 after purchasing an additional 417 shares during the period. SBI Securities Co. Ltd. purchased a new position in shares of BOX in the 4th quarter valued at about $132,000. Finally, Plato Investment Management Ltd acquired a new stake in shares of BOX in the fourth quarter valued at about $134,000. Institutional investors and hedge funds own 86.74% of the company's stock.

Insider Activity

In other news, COO Olivia Nottebohm sold 1,332 shares of BOX stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $29.01, for a total transaction of $38,641.32. Following the sale, the chief operating officer now directly owns 492,545 shares of the company's stock, valued at approximately $14,288,730.45. The trade was a 0.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Eli Berkovitch sold 2,750 shares of the firm's stock in a transaction that occurred on Thursday, April 10th. The shares were sold at an average price of $29.58, for a total value of $81,345.00. Following the sale, the vice president now owns 121,922 shares of the company's stock, valued at approximately $3,606,452.76. This trade represents a 2.21 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 69,022 shares of company stock worth $2,198,045. 4.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. DA Davidson dropped their price objective on BOX from $45.00 to $40.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Morgan Stanley cut their target price 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. Royal Bank of Canada reiterated an "underperform" rating and set a $21.00 price target on shares of BOX in a report on Wednesday, March 19th. StockNews.com downgraded BOX from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. lowered their price target on BOX from $38.00 to $37.00 and set an "overweight" rating for the company in a report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $36.44.

BOX Trading Down 0.5 %

Shares of BOX traded down $0.14 during midday trading on Monday, reaching $30.81. 256,046 shares of the company were exchanged, compared to its average volume of 1,658,960. The company has a market cap of $4.43 billion, a price-to-earnings ratio of 38.51, a P/E/G ratio of 4.42 and a beta of 0.96. Box, Inc. has a 1-year low of $24.63 and a 1-year high of $35.74. The stock has a 50-day moving average price of $31.14 and a 200-day moving average price of $32.27.

BOX declared that its Board of Directors has initiated a stock buyback program on Tuesday, March 4th that allows the company to buyback $150.00 million in shares. This buyback authorization allows the software maker to repurchase up to 3.1% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's management 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.