Victory Capital Management Inc. Sells 25,279 Shares of Box, Inc. (NYSE:BOX)

Victory Capital Management Inc. lowered its stake in Box, Inc. (NYSE:BOX) by 4.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 582,587 shares of the software maker’s stock after selling 25,279 shares during the quarter. Victory Capital Management Inc. owned approximately 0.41% of BOX worth $18,410,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in BOX. Itau Unibanco Holding S.A. bought a new position in BOX in the 3rd quarter valued at approximately $36,000. Smartleaf Asset Management LLC increased its holdings in shares of BOX by 715.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,162 shares of the software maker’s stock worth $69,000 after buying an additional 1,897 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in shares of BOX by 245.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,162 shares of the software maker’s stock valued at $71,000 after acquiring an additional 1,536 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of BOX during the 4th quarter valued at $132,000. Finally, Plato Investment Management Ltd bought a new stake in BOX during the 4th quarter worth $134,000. 86.74% of the stock is currently owned by institutional investors and hedge funds.

BOX Trading Down 2.2 %

Shares of BOX opened at $31.45 on Wednesday. The firm’s fifty day simple moving average is $32.83 and its two-hundred day simple moving average is $32.75. Box, Inc. has a 12 month low of $24.63 and a 12 month high of $35.74. The stock has a market capitalization of $4.52 billion, a P/E ratio of 39.31, a price-to-earnings-growth ratio of 4.42 and a beta of 1.00.

BOX declared that its board has initiated a share buyback program on Tuesday, March 4th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the software maker to reacquire up to 3.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

BOX has been the subject of several research reports. William Blair reiterated an “outperform” rating on shares of BOX in a research report on Thursday, November 14th. Raymond James reiterated an “outperform” rating and set a $38.00 target price (down from $40.00) on shares of BOX in a research report on Wednesday, March 5th. JPMorgan Chase & Co. reduced 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. Morgan Stanley raised their price target on shares of BOX from $33.00 to $36.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 4th. Finally, UBS Group boosted their price objective on shares of BOX from $34.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $36.60.

Insider Activity at BOX

In related news, COO Olivia Nottebohm sold 12,414 shares of the business’s stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $31.85, for a total transaction of $395,385.90. Following the transaction, the chief operating officer now owns 453,146 shares in the company, valued at $14,432,700.10. The trade was a 2.67 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Eli Berkovitch sold 4,792 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $32.46, for a total transaction of $155,548.32. Following the completion of the sale, the vice president now owns 140,172 shares of the company’s stock, valued at $4,549,983.12. The trade was a 3.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 60,155 shares of company stock worth $1,952,773 in the last 90 days. Corporate insiders own 4.10% of the company’s stock.

BOX Company 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.