Sherbrooke Park Advisers LLC Purchases New Position in Box, Inc. (NYSE:BOX)

Sherbrooke Park Advisers LLC purchased a new stake in Box, Inc. (NYSE:BOX - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 24,900 shares of the software maker's stock, valued at approximately $787,000.

A number of other hedge funds have also modified their holdings of the company. Earnest Partners LLC raised its position in shares of BOX by 2.1% in the 4th quarter. Earnest Partners LLC now owns 7,896,931 shares of the software maker's stock valued at $249,543,000 after acquiring an additional 162,437 shares during the period. Arrowstreet Capital Limited Partnership raised its position in shares of BOX by 103.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,386,370 shares of the software maker's stock valued at $107,009,000 after acquiring an additional 1,725,197 shares during the period. Sei Investments Co. raised its holdings in BOX by 8.4% during the 4th quarter. Sei Investments Co. now owns 3,286,619 shares of the software maker's stock worth $103,857,000 after buying an additional 255,623 shares during the period. Dimensional Fund Advisors LP raised its holdings in BOX by 0.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,610,450 shares of the software maker's stock worth $82,492,000 after buying an additional 11,376 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in BOX by 11.8% during the 4th quarter. Renaissance Technologies LLC now owns 2,205,926 shares of the software maker's stock worth $69,707,000 after buying an additional 233,100 shares during the period. 86.74% of the stock is currently owned by institutional investors and hedge funds.

BOX Stock Performance

BOX opened at $32.28 on Friday. Box, Inc. has a fifty-two week low of $24.63 and a fifty-two week high of $35.74. The company has a market capitalization of $4.64 billion, a P/E ratio of 40.35, a P/E/G ratio of 4.42 and a beta of 0.94. The stock has a fifty day moving average of $30.67 and a 200-day moving average of $32.18.

BOX declared that its Board of Directors has approved 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 reacquire up to 3.1% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's management believes its shares are undervalued.

Wall Street Analyst Weigh In

Several brokerages have commented on BOX. DA Davidson dropped their target price on shares of BOX from $45.00 to $40.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Raymond James restated 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. Royal Bank of Canada restated an "underperform" rating and set a $21.00 target price on shares of BOX in a report on Wednesday, March 19th. JPMorgan Chase & Co. dropped their target price on shares of BOX from $38.00 to $37.00 and set an "overweight" rating on the stock in a report on Wednesday, March 5th. Finally, StockNews.com upgraded shares of BOX from a "buy" rating to a "strong-buy" rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $36.44.

Insider Transactions at BOX

In other BOX news, CFO Dylan C. Smith sold 13,000 shares of the business's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $31.95, for a total transaction of $415,350.00. Following the completion of the transaction, the chief financial officer now owns 1,440,684 shares of the company's stock, valued at approximately $46,029,853.80. The trade was a 0.89% 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 the SEC website. Also, COO Olivia Nottebohm sold 3,434 shares of the business's stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $31.54, for a total value of $108,308.36. Following the transaction, the chief operating officer now directly owns 556,011 shares of the company's stock, valued at approximately $17,536,586.94. The trade was a 0.61% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 66,377 shares of company stock valued at $2,060,714. 4.10% of the stock is currently owned by corporate insiders.

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.

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