Box, Inc. (NYSE:BOX) Shares Acquired by Townsquare Capital LLC

Townsquare Capital LLC lifted its position in Box, Inc. (NYSE:BOX - Free Report) by 49.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 92,412 shares of the software maker's stock after purchasing an additional 30,666 shares during the period. Townsquare Capital LLC owned 0.06% of BOX worth $2,920,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Smartleaf Asset Management LLC grew 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 purchasing an additional 1,897 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in BOX by 19.3% in the fourth quarter. Farther Finance Advisors LLC now owns 2,579 shares of the software maker's stock valued at $81,000 after purchasing an additional 417 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in BOX during the 4th quarter worth about $132,000. Plato Investment Management Ltd acquired a new position in shares of BOX in the 4th quarter valued at about $134,000. Finally, KBC Group NV grew its holdings in BOX by 35.7% during the fourth quarter. KBC Group NV now owns 5,403 shares of the software maker's stock worth $171,000 after acquiring an additional 1,420 shares during the period. 86.74% of the stock is currently owned by hedge funds and other institutional investors.

BOX Price Performance

BOX traded down $0.42 during trading hours on Monday, reaching $29.24. The company's stock had a trading volume of 173,521 shares, compared to its average volume of 1,811,938. The business's 50-day moving average is $31.64 and its 200-day moving average is $32.33. The stock has a market cap of $4.20 billion, a PE ratio of 36.54, a P/E/G ratio of 4.42 and a beta of 0.96. Box, Inc. has a fifty-two week low of $24.63 and a fifty-two week high of $35.74.

BOX announced that its board has initiated a share repurchase plan on Tuesday, March 4th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the software maker to buy up to 3.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on BOX. JPMorgan Chase & Co. decreased their target price on shares of BOX from $38.00 to $37.00 and set an "overweight" rating for the company in a research note 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 research note on Wednesday, March 19th. 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 research 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. Finally, Raymond James reiterated an "outperform" rating and issued a $38.00 price objective (down from $40.00) on shares of BOX in a report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $36.44.

Insider Buying and Selling

In other BOX news, COO Olivia Nottebohm sold 1,332 shares of the company's stock in a transaction on Monday, April 7th. The stock was sold at an average price of $29.01, for a total transaction of $38,641.32. Following the transaction, the chief operating officer now directly owns 492,545 shares in the company, valued at $14,288,730.45. This represents a 0.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Eli Berkovitch sold 5,651 shares of the business's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $30.66, for a total value of $173,259.66. Following the completion of the sale, the vice president now owns 124,672 shares in the company, valued at $3,822,443.52. This represents a 4.34 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 72,996 shares of company stock valued at $2,329,886. 4.10% of the stock is currently owned by insiders.

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.