Zurcher Kantonalbank Zurich Cantonalbank Acquires 4,588 Shares of Box, Inc. (NYSE:BOX)

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Box, Inc. (NYSE:BOX) by 14.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 35,427 shares of the software maker’s stock after buying an additional 4,588 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in BOX were worth $1,119,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Itau Unibanco Holding S.A. acquired a new position in shares of BOX during the 3rd quarter valued at $36,000. Smartleaf Asset Management LLC raised its holdings in shares of BOX by 715.8% during the fourth 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 during the period. SBI Securities Co. Ltd. bought a new position in shares of BOX during the 4th quarter worth about $132,000. Plato Investment Management Ltd acquired a new stake in shares of BOX in the 4th quarter valued at about $134,000. Finally, KBC Group NV increased its position in BOX by 35.7% in the 4th quarter. KBC Group NV now owns 5,403 shares of the software maker’s stock valued at $171,000 after buying an additional 1,420 shares in the last quarter. 86.74% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Aaron Levie sold 10,000 shares of the firm’s stock in a transaction dated 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 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Olivia Nottebohm sold 6,079 shares of BOX stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $34.42, for a total transaction of $209,239.18. Following the completion of the sale, the chief operating officer now directly owns 440,988 shares in the company, valued at approximately $15,178,806.96. This represents a 1.36 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 78,363 shares of company stock worth $2,533,374. 4.10% of the stock is owned by company insiders.

BOX Stock Down 0.1 %

BOX stock opened at $30.83 on Thursday. Box, Inc. has a 52 week low of $24.63 and a 52 week high of $35.74. The company’s 50 day moving average price is $32.76 and its two-hundred day moving average price is $32.74. The stock has a market cap of $4.43 billion, a P/E ratio of 38.53, a P/E/G ratio of 4.42 and a beta of 1.00.

BOX announced that its board has initiated a share buyback program on Tuesday, March 4th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the software maker to purchase up to 3.1% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

BOX has been the topic of several recent research reports. DA Davidson reiterated a “buy” rating and issued a $45.00 price target on shares of BOX in a report on Wednesday. UBS Group lifted their price target on shares of BOX from $34.00 to $42.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Bank of America began coverage on shares of BOX in a report on Thursday, December 12th. They set a “buy” rating and a $40.00 price objective on the stock. Citigroup lifted their price objective on shares of BOX from $34.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Finally, Morgan Stanley upped their target price on shares of BOX from $33.00 to $36.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $36.60.

About BOX

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.