Bryce Point Capital LLC Makes New $1.62 Million Investment in Box, Inc. (NYSE:BOX)

Bryce Point Capital LLC acquired a new stake in Box, Inc. (NYSE:BOX) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 51,272 shares of the software maker’s stock, valued at approximately $1,620,000.

Other hedge funds have also modified their holdings of the company. Itau Unibanco Holding S.A. bought a new stake in BOX in the third quarter valued at $36,000. Smartleaf Asset Management LLC boosted 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 purchasing an additional 1,897 shares in the last quarter. Farther Finance Advisors LLC grew its holdings 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 worth $81,000 after purchasing an additional 417 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of BOX during the 4th quarter worth about $132,000. Finally, Plato Investment Management Ltd bought a new position in BOX during the 4th quarter valued at about $134,000. 86.74% of the stock is owned by institutional investors and hedge funds.

BOX Trading Up 1.5 %

Shares of NYSE:BOX opened at $31.32 on Wednesday. Box, Inc. has a 1-year low of $24.63 and a 1-year high of $35.74. The stock has a market capitalization of $4.50 billion, a P/E ratio of 39.15, a P/E/G ratio of 4.42 and a beta of 1.00. The business has a 50-day moving average price of $32.67 and a two-hundred day moving average price of $32.62.

BOX declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, March 4th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the software maker to buy up to 3.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at BOX

In other BOX news, CEO Aaron Levie sold 10,000 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $32.08, for a total transaction of $320,800.00. Following the transaction, the chief executive officer now owns 2,979,780 shares in the company, valued at approximately $95,591,342.40. This trade represents a 0.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Olivia Nottebohm sold 2,105 shares of the business’s stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $30.76, for a total value of $64,749.80. Following the transaction, the chief operating officer now owns 427,113 shares of the company’s stock, valued at $13,137,995.88. The trade was a 0.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 73,705 shares of company stock valued at $2,375,998. 4.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on BOX shares. DA Davidson reaffirmed a “buy” rating and set a $45.00 price objective on shares of BOX in a research note on Wednesday, March 19th. Morgan Stanley raised their price target on BOX from $33.00 to $36.00 and gave the company an “equal weight” rating in a report on Wednesday, December 4th. Citigroup lifted their price objective on BOX from $34.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Bank of America started coverage on BOX in a report on Thursday, December 12th. They set a “buy” rating and a $40.00 target price on the stock. Finally, StockNews.com cut BOX from a “strong-buy” rating to a “buy” rating in a report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $37.11.

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.