Smartleaf Asset Management LLC Buys 1,897 Shares of Box, Inc. (NYSE:BOX)

Smartleaf Asset Management LLC grew its stake in Box, Inc. (NYSE:BOX) by 715.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,162 shares of the software maker’s stock after buying an additional 1,897 shares during the period. Smartleaf Asset Management LLC’s holdings in BOX were worth $69,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Itau Unibanco Holding S.A. acquired a new stake in BOX during the 3rd quarter valued at approximately $36,000. Farther Finance Advisors LLC grew its holdings in BOX by 245.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,162 shares of the software maker’s stock worth $71,000 after acquiring an additional 1,536 shares during the period. KBC Group NV raised its position 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 worth $171,000 after acquiring an additional 1,420 shares in the last quarter. Central Pacific Bank Trust Division boosted its holdings in shares of BOX by 9.6% during the 4th quarter. Central Pacific Bank Trust Division now owns 6,070 shares of the software maker’s stock worth $192,000 after buying an additional 530 shares in the last quarter. Finally, Bleakley Financial Group LLC acquired a new stake in BOX in the fourth quarter worth $200,000. 86.74% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

BOX has been the subject of several research reports. William Blair reissued an “outperform” rating on shares of BOX in a research report on Thursday, November 14th. Raymond James reissued an “outperform” rating and set a $38.00 target price (down previously from $40.00) on shares of BOX in a research report on Wednesday, March 5th. DA Davidson started coverage on BOX in a research note on Wednesday, December 18th. They issued a “buy” rating and a $45.00 price objective for the company. Royal Bank of Canada reissued an “underperform” rating and set a $21.00 target price on shares of BOX in a research report on Wednesday, December 4th. Finally, Citigroup raised their price target on shares of BOX from $34.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $36.60.

Insider Transactions at BOX

In other news, VP Eli Berkovitch sold 4,791 shares of BOX stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $31.06, for a total transaction of $148,808.46. Following the completion of the sale, the vice president now owns 132,741 shares in the company, valued at approximately $4,122,935.46. This trade represents a 3.48 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Olivia Nottebohm sold 6,079 shares of the company’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 completion of the transaction, the chief operating officer now owns 440,988 shares in the company, valued at approximately $15,178,806.96. This trade represents a 1.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 89,041 shares of company stock valued at $2,889,758. 4.10% of the stock is currently owned by company insiders.

BOX Stock Performance

Shares of BOX opened at $32.28 on Monday. The stock’s 50-day simple moving average is $32.82 and its 200 day simple moving average is $32.70. Box, Inc. has a 52-week low of $24.63 and a 52-week high of $35.74. The stock has a market capitalization of $4.64 billion, a price-to-earnings ratio of 40.35, a price-to-earnings-growth ratio of 4.42 and a beta of 1.00.

BOX declared that its board has approved a share buyback program on Tuesday, March 4th that authorizes the company to repurchase $150.00 million in 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 generally an indication that the company’s board of directors believes its shares are undervalued.

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.