State of Tennessee Department of Treasury Has $2.11 Million Stock Holdings in Box, Inc. (NYSE:BOX)

State of Tennessee Department of Treasury cut its stake in Box, Inc. (NYSE:BOX - Free Report) by 12.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 66,698 shares of the software maker's stock after selling 9,295 shares during the period. State of Tennessee Department of Treasury's holdings in BOX were worth $2,108,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Integrated Quantitative Investments LLC bought a new stake in shares of BOX during the 4th quarter worth about $1,418,000. Bryce Point Capital LLC purchased a new stake in BOX during the fourth quarter valued at about $1,620,000. Beacon Harbor Wealth Advisors Inc. acquired a new position in shares of BOX in the fourth quarter worth about $5,997,000. Robeco Institutional Asset Management B.V. purchased a new position in shares of BOX in the fourth quarter worth approximately $981,000. Finally, Sei Investments Co. raised its holdings in shares of BOX by 8.4% during the fourth quarter. Sei Investments Co. now owns 3,286,619 shares of the software maker's stock valued at $103,857,000 after acquiring an additional 255,623 shares during the period. 86.74% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on BOX shares. Raymond James reaffirmed an "outperform" rating and issued a $38.00 price objective (down previously from $40.00) on shares of BOX in a research note on Wednesday, March 5th. DA Davidson lowered their price target on BOX from $45.00 to $40.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Morgan Stanley reduced their price target on shares of BOX from $36.00 to $35.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Royal Bank of Canada reissued an "underperform" rating and set a $21.00 target price on shares of BOX in a research note on Wednesday, March 19th. Finally, JPMorgan Chase & Co. cut their price objective 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 given a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $36.44.

Insider Buying and Selling at BOX

In related news, COO Olivia Nottebohm sold 2,105 shares of the company's stock in a transaction on Monday, April 21st. The shares were sold at an average price of $29.52, for a total transaction of $62,139.60. Following the completion of the transaction, the chief operating officer now directly owns 561,132 shares in the company, valued at $16,564,616.64. This represents a 0.37 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Eli Berkovitch sold 2,750 shares of the firm's stock in a transaction on Thursday, April 10th. The stock was sold at an average price of $29.58, for a total transaction of $81,345.00. Following the completion of the sale, the vice president now owns 121,922 shares in the company, valued at $3,606,452.76. This represents a 2.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 69,022 shares of company stock valued at $2,198,045 in the last 90 days. 4.10% of the stock is currently owned by insiders.

BOX Trading Up 0.7 %

BOX stock traded up $0.23 on Friday, reaching $31.21. 971,757 shares of the stock were exchanged, compared to its average volume of 1,810,631. Box, Inc. has a twelve month low of $24.63 and a twelve month high of $35.74. The firm has a fifty day moving average price of $30.90 and a two-hundred day moving average price of $32.23. The stock has a market cap of $4.49 billion, a PE ratio of 39.01, a PEG ratio of 4.42 and a beta of 0.96.

BOX announced that its board has initiated a share repurchase plan on Tuesday, March 4th that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the software maker to purchase up to 3.1% of its stock through open market purchases. Stock buyback plans 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.