Russell Investments Group Ltd. Grows Position in Box, Inc. (NYSE:BOX)

Russell Investments Group Ltd. lifted its stake in Box, Inc. (NYSE:BOX - Free Report) by 17.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 543,861 shares of the software maker's stock after purchasing an additional 82,649 shares during the period. Russell Investments Group Ltd. owned 0.38% of BOX worth $17,245,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Resona Asset Management Co. Ltd. bought a new stake in shares of BOX during the 4th quarter valued at $816,000. Wells Fargo & Company MN lifted its stake in BOX by 22.9% in the fourth quarter. Wells Fargo & Company MN now owns 1,633,647 shares of the software maker's stock valued at $51,623,000 after buying an additional 304,755 shares during the period. Integrated Quantitative Investments LLC bought a new position in BOX during the fourth quarter worth about $1,418,000. Landscape Capital Management L.L.C. bought a new stake in shares of BOX in the 4th quarter valued at about $874,000. Finally, Bryce Point Capital LLC acquired a new stake in shares of BOX in the 4th quarter valued at approximately $1,620,000. Institutional investors and hedge funds own 86.74% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Royal Bank of Canada reiterated an "underperform" rating and issued a $21.00 price target on shares of BOX in a report on Wednesday, March 19th. Raymond James reiterated an "outperform" rating and issued a $38.00 price target (down previously from $40.00) on shares of BOX in a research note on Wednesday, March 5th. StockNews.com lowered shares of BOX from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, January 8th. DA Davidson reduced their price target on BOX from $45.00 to $40.00 and set a "buy" rating for the company in a report on Monday. Finally, JPMorgan Chase & Co. dropped their price objective on BOX from $38.00 to $37.00 and set an "overweight" rating on the stock in a research note on Wednesday, March 5th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $36.56.

BOX Stock Performance

Shares of BOX traded down $0.17 during mid-day trading on Tuesday, reaching $29.94. The company had a trading volume of 400,403 shares, compared to its average volume of 1,813,959. Box, Inc. has a 52 week low of $24.63 and a 52 week high of $35.74. The company has a market capitalization of $4.31 billion, a price-to-earnings ratio of 37.42, a price-to-earnings-growth ratio of 4.42 and a beta of 0.96. The firm has a 50-day moving average price of $32.02 and a 200 day moving average price of $32.40.

BOX announced that its board has approved a share buyback plan on Tuesday, March 4th that allows the company to buyback $150.00 million in outstanding shares. This buyback authorization allows the software maker to purchase up to 3.1% of its stock through open market purchases. Stock buyback plans are often a sign that the company's leadership believes its shares are undervalued.

Insider Activity at BOX

In other news, COO Olivia Nottebohm sold 6,079 shares of the business's stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $34.42, for a total transaction of $209,239.18. Following the transaction, the chief operating officer now owns 440,988 shares of the company's stock, valued at approximately $15,178,806.96. The trade was a 1.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Aaron Levie sold 10,000 shares of the firm's stock in a transaction dated Monday, March 10th. The stock was 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 $95,591,342.40. This represents a 0.33 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 72,996 shares of company stock worth $2,329,886. Corporate insiders own 4.10% of the company's stock.

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.