Box, Inc. (NYSE:BOX) Shares Sold by Swiss National Bank

Swiss National Bank lowered its position in shares of Box, Inc. (NYSE:BOX) by 0.7% during the fourth quarter, Holdings Channel reports. The fund owned 281,700 shares of the software maker’s stock after selling 2,100 shares during the quarter. Swiss National Bank’s holdings in BOX were worth $8,902,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its holdings in shares of BOX by 10.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,371,815 shares of the software maker’s stock valued at $44,900,000 after acquiring an additional 134,175 shares during the period. Beacon Harbor Wealth Advisors Inc. acquired a new stake in shares of BOX during the fourth quarter valued at approximately $5,997,000. Townsquare Capital LLC acquired a new stake in shares of BOX during the third quarter valued at approximately $2,021,000. Robeco Institutional Asset Management B.V. acquired a new stake in shares of BOX during the fourth quarter valued at approximately $981,000. Finally, Petrus Trust Company LTA acquired a new stake in shares of BOX during the third quarter valued at approximately $615,000. Institutional investors and hedge funds own 86.74% of the company’s stock.

BOX Stock Up 0.4 %

Shares of BOX opened at $30.35 on Friday. The company’s fifty day moving average is $32.73 and its 200-day moving average is $32.70. The firm has a market cap of $4.36 billion, a price-to-earnings ratio of 37.93, a price-to-earnings-growth ratio of 4.42 and a beta of 1.00. Box, Inc. has a 12 month low of $24.63 and a 12 month high of $35.74.

BOX announced that its Board of Directors has authorized a share repurchase plan on Tuesday, March 4th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the software maker to purchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In related news, CEO Aaron Levie sold 10,000 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $32.08, for a total transaction of $320,800.00. Following the completion of the sale, the chief executive officer now directly owns 2,979,780 shares of the company’s stock, valued at approximately $95,591,342.40. This represents a 0.33 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Dylan C. Smith sold 13,000 shares of the company’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $31.05, for a total transaction of $403,650.00. Following the sale, the chief financial officer now directly owns 1,466,684 shares of the company’s stock, valued at approximately $45,540,538.20. This represents a 0.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 78,363 shares of company stock valued at $2,533,374. Company insiders own 4.10% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Citigroup boosted their price target on shares of BOX from $34.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Morgan Stanley upped their price objective 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. Raymond James reiterated 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. Bank of America started coverage on shares of BOX in a research note on Thursday, December 12th. They issued a “buy” rating and a $40.00 price objective on the stock. Finally, Royal Bank of Canada reiterated an “underperform” rating and issued a $21.00 price objective on shares of BOX in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, BOX currently has a consensus rating of “Moderate Buy” and an average price target of $37.11.

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.