Horizon Investment Services LLC Buys Shares of 7,689 Box, Inc. (NYSE:BOX)

Horizon Investment Services LLC purchased a new position in shares of Box, Inc. (NYSE:BOX) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 7,689 shares of the software maker’s stock, valued at approximately $243,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Janney Montgomery Scott LLC boosted its holdings in BOX by 5.3% in the fourth quarter. Janney Montgomery Scott LLC now owns 7,807 shares of the software maker’s stock worth $247,000 after acquiring an additional 391 shares in the last quarter. Farther Finance Advisors LLC raised its position in shares of BOX by 19.3% in the 4th 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. Sanctuary Advisors LLC increased its stake in BOX by 1.2% during the 4th quarter. Sanctuary Advisors LLC now owns 35,775 shares of the software maker’s stock valued at $1,189,000 after purchasing an additional 423 shares in the last quarter. Aspiriant LLC raised its holdings in shares of BOX by 5.0% in the fourth quarter. Aspiriant LLC now owns 9,048 shares of the software maker’s stock worth $286,000 after buying an additional 427 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of BOX by 2.6% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 17,340 shares of the software maker’s stock worth $548,000 after buying an additional 442 shares during the period. Hedge funds and other institutional investors own 86.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on BOX shares. Citigroup lifted their price objective on shares of BOX from $34.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Royal Bank of Canada reaffirmed an “underperform” rating and set a $21.00 price target on shares of BOX in a research report on Wednesday, March 19th. Morgan Stanley boosted their price objective on BOX from $33.00 to $36.00 and gave the company an “equal weight” rating in a report on Wednesday, December 4th. DA Davidson reaffirmed a “buy” rating and set a $45.00 target price on shares of BOX in a report on Wednesday, March 19th. Finally, UBS Group boosted their price target on BOX from $34.00 to $42.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, BOX has a consensus rating of “Moderate Buy” and an average target price of $37.11.

BOX Stock Down 1.7 %

Shares of NYSE BOX opened at $31.12 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 simple moving average is $32.69 and its 200-day simple moving average is $32.65. The firm has a market cap of $4.47 billion, a price-to-earnings ratio of 38.90, a price-to-earnings-growth ratio of 4.42 and a beta of 1.00.

BOX announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, March 4th that allows the company to buyback $150.00 million in shares. This buyback authorization allows the software maker to buy up to 3.1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other BOX news, VP Eli Berkovitch sold 4,791 shares of the firm’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $31.06, for a total value of $148,808.46. Following the transaction, 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 document filed with the SEC, which is accessible through the SEC website. 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 $45,540,538.20. The trade was a 0.88 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 73,705 shares of company stock worth $2,375,998. 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.