Invesco Ltd. Lowers Stock Position in Box, Inc. (NYSE:BOX)

Invesco Ltd. decreased its holdings in Box, Inc. (NYSE:BOX) by 79.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 524,431 shares of the software maker’s stock after selling 1,984,899 shares during the quarter. Invesco Ltd. owned about 0.36% of BOX worth $16,572,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of BOX. Integrated Quantitative Investments LLC acquired a new stake in shares of BOX during the fourth quarter worth about $1,418,000. Bryce Point Capital LLC acquired a new position in shares of BOX in the fourth quarter valued at approximately $1,620,000. Beacon Harbor Wealth Advisors Inc. purchased a new stake in shares of BOX during the fourth quarter worth approximately $5,997,000. Robeco Institutional Asset Management B.V. acquired a new stake in shares of BOX during the fourth quarter worth $981,000. Finally, Sei Investments Co. increased its stake in BOX by 8.4% in the 4th quarter. Sei Investments Co. now owns 3,286,619 shares of the software maker’s stock valued at $103,857,000 after buying an additional 255,623 shares during the period. 86.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on BOX shares. Raymond James reaffirmed an “outperform” rating and issued a $38.00 target price (down previously from $40.00) on shares of BOX in a report on Wednesday, March 5th. Morgan Stanley decreased their price target on BOX from $36.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 16th. JPMorgan Chase & Co. dropped their price objective on BOX from $38.00 to $37.00 and set an “overweight” rating on the stock in a report on Wednesday, March 5th. Royal Bank of Canada restated an “underperform” rating and set a $21.00 target price on shares of BOX in a research report on Wednesday, March 19th. Finally, StockNews.com downgraded shares of 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 assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, BOX has an average rating of “Moderate Buy” and an average target price of $36.44.

Insider Transactions at BOX

In other BOX news, CEO Aaron Levie sold 10,000 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $32.08, for a total value of $320,800.00. Following the transaction, the chief executive officer now directly owns 2,979,780 shares in the company, valued at approximately $95,591,342.40. This represents a 0.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Dylan C. Smith sold 13,000 shares of BOX stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $34.32, for a total transaction of $446,160.00. Following the sale, the chief financial officer now owns 1,453,684 shares of the company’s stock, valued at approximately $49,890,434.88. This trade represents a 0.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 72,996 shares of company stock valued at $2,329,886 in the last ninety days. Corporate insiders own 4.10% of the company’s stock.

BOX Trading Down 0.4 %

Shares of BOX opened at $29.65 on Monday. The company has a 50-day moving average of $31.64 and a two-hundred day moving average of $32.33. The stock has a market cap of $4.26 billion, a P/E ratio of 37.06, a PEG ratio of 4.42 and a beta of 0.96. 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 approved a share buyback plan on Tuesday, March 4th that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the software maker to buy up to 3.1% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

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.