Gotham Asset Management LLC Invests $307,000 in Box, Inc. (NYSE:BOX)

Gotham Asset Management LLC purchased a new stake in Box, Inc. (NYSE:BOX) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 9,730 shares of the software maker’s stock, valued at approximately $307,000.

Several other hedge funds have also made changes to their positions in the company. Arrowstreet Capital Limited Partnership lifted its holdings in shares of BOX by 103.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 3,386,370 shares of the software maker’s stock valued at $107,009,000 after purchasing an additional 1,725,197 shares in the last quarter. Norges Bank acquired a new position in BOX during the fourth quarter valued at $29,973,000. Jupiter Asset Management Ltd. purchased a new stake in BOX in the 4th quarter worth about $24,234,000. Fisher Asset Management LLC boosted its position in BOX by 420.6% during the 4th quarter. Fisher Asset Management LLC now owns 857,498 shares of the software maker’s stock worth $27,097,000 after acquiring an additional 692,784 shares during the period. Finally, Wells Fargo & Company MN grew its stake in BOX by 22.9% during the 4th quarter. Wells Fargo & Company MN now owns 1,633,647 shares of the software maker’s stock valued at $51,623,000 after acquiring an additional 304,755 shares in the last quarter. Hedge funds and other institutional investors own 86.74% of the company’s stock.

BOX Price Performance

Shares of NYSE:BOX opened at $31.98 on Wednesday. Box, Inc. has a fifty-two week low of $24.63 and a fifty-two week high of $35.74. The business has a 50-day moving average of $30.74 and a two-hundred day moving average of $32.18. The stock has a market capitalization of $4.60 billion, a P/E ratio of 39.98, a P/E/G ratio of 4.42 and a beta of 0.94.

BOX declared that its board has approved a share repurchase program on Tuesday, March 4th that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the software maker to purchase up to 3.1% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

BOX has been the topic of a number of research reports. Morgan Stanley dropped their target price on BOX from $36.00 to $35.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 16th. JPMorgan Chase & Co. cut their target price on shares of BOX from $38.00 to $37.00 and set an “overweight” rating for the company in a research report on Wednesday, March 5th. Raymond James restated an “outperform” rating and set a $38.00 price target (down from $40.00) on shares of BOX in a report on Wednesday, March 5th. Royal Bank of Canada reiterated an “underperform” rating and set a $21.00 price objective on shares of BOX in a report on Wednesday, March 19th. Finally, DA Davidson cut their price objective on BOX from $45.00 to $40.00 and set a “buy” rating for the company in a report on Monday, April 14th. One analyst has rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $36.44.

Insiders Place Their Bets

In other BOX news, CEO Aaron Levie sold 10,000 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $32.08, for a total value of $320,800.00. Following the completion of the sale, the chief executive officer now owns 2,979,780 shares of the company’s stock, valued at $95,591,342.40. The trade was a 0.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Dylan C. Smith sold 13,000 shares of BOX stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $31.95, for a total value of $415,350.00. Following the completion of the transaction, the chief financial officer now owns 1,440,684 shares in the company, valued at $46,029,853.80. The trade was a 0.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 66,377 shares of company stock valued at $2,060,714 over the last quarter. Insiders own 3.90% of the company’s stock.

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.