PNC Financial Services Group Inc. Has $301,000 Position in Box, Inc. (NYSE:BOX)

PNC Financial Services Group Inc. reduced its holdings in shares of Box, Inc. (NYSE:BOX) by 11.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,518 shares of the software maker’s stock after selling 1,204 shares during the period. PNC Financial Services Group Inc.’s holdings in BOX were worth $301,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Itau Unibanco Holding S.A. acquired a new stake in BOX during the 3rd quarter worth about $36,000. Smartleaf Asset Management LLC grew its stake in shares of BOX by 715.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,162 shares of the software maker’s stock valued at $69,000 after buying an additional 1,897 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of BOX in the 4th quarter valued at about $132,000. Plato Investment Management Ltd acquired a new stake in shares of BOX in the 4th quarter valued at about $134,000. Finally, KBC Group NV grew its stake in shares of BOX by 35.7% in the 4th quarter. KBC Group NV now owns 5,403 shares of the software maker’s stock valued at $171,000 after buying an additional 1,420 shares during the period. 86.74% of the stock is currently owned by institutional investors and hedge funds.

BOX Stock Up 0.4 %

BOX stock opened at $30.35 on Friday. Box, Inc. has a 52 week low of $24.63 and a 52 week high of $35.74. The company’s 50 day moving average price is $32.73 and its two-hundred day moving average price is $32.70. The stock has a market cap of $4.36 billion, a P/E ratio of 37.93, a P/E/G ratio of 4.42 and a beta of 1.00.

BOX announced that its board has approved a share repurchase program 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 programs are often a sign that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. JPMorgan Chase & Co. reduced their target price on BOX from $38.00 to $37.00 and set an “overweight” rating for the company in a research note on Wednesday, March 5th. DA Davidson restated a “buy” rating and issued a $45.00 target price on shares of BOX in a research note on Wednesday. Bank of America assumed coverage on BOX in a research note on Thursday, December 12th. They issued a “buy” rating and a $40.00 target price for the company. Morgan Stanley raised their target price on BOX from $33.00 to $36.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 4th. Finally, StockNews.com cut shares of BOX from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, January 8th. One equities research 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 data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $37.11.

Insiders Place Their Bets

In other BOX news, CFO Dylan C. Smith sold 13,000 shares of BOX stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $31.05, for a total transaction of $403,650.00. Following the transaction, the chief financial officer now owns 1,466,684 shares of the company’s stock, valued at $45,540,538.20. This trade represents a 0.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Olivia Nottebohm sold 6,079 shares of BOX 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 completion of the sale, the chief operating officer now directly owns 440,988 shares in the company, valued at $15,178,806.96. This trade represents a 1.36 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 78,363 shares of company stock valued at $2,533,374 in the last 90 days. 4.10% of the stock is currently owned by corporate 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.