Atria Investments Inc Acquires 2,352 Shares of Box, Inc. (NYSE:BOX)

Atria Investments Inc grew its holdings in Box, Inc. (NYSE:BOX) by 9.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 27,321 shares of the software maker’s stock after buying an additional 2,352 shares during the quarter. Atria Investments Inc’s holdings in BOX were worth $863,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Fisher Asset Management LLC increased its position in BOX by 420.6% in the 4th quarter. Fisher Asset Management LLC now owns 857,498 shares of the software maker’s stock valued at $27,097,000 after acquiring an additional 692,784 shares in the last quarter. Congress Asset Management Co. increased its holdings in shares of BOX by 17.5% in the fourth quarter. Congress Asset Management Co. now owns 1,659,646 shares of the software maker’s stock valued at $52,445,000 after purchasing an additional 246,993 shares in the last quarter. Los Angeles Capital Management LLC increased its holdings in shares of BOX by 629.1% in the fourth quarter. Los Angeles Capital Management LLC now owns 161,865 shares of the software maker’s stock valued at $5,115,000 after purchasing an additional 139,664 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of BOX by 10.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,371,815 shares of the software maker’s stock valued at $44,900,000 after purchasing an additional 134,175 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec acquired a new stake in shares of BOX in the third quarter valued at approximately $4,314,000. 86.74% of the stock is currently owned by institutional investors and hedge funds.

BOX Stock Down 1.9 %

BOX stock opened at $30.36 on Friday. The firm has a market cap of $4.36 billion, a PE ratio of 37.95, a price-to-earnings-growth ratio of 4.42 and a beta of 1.00. The business has a 50 day moving average of $32.81 and a 200 day moving average of $32.74. Box, Inc. has a twelve month low of $24.63 and a twelve month high of $35.74.

BOX declared 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 generally an indication that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other BOX news, CFO Dylan C. Smith sold 13,000 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $31.95, for a total transaction of $415,350.00. Following the completion of the sale, the chief financial officer now owns 1,440,684 shares of the company’s stock, valued at approximately $46,029,853.80. The trade was a 0.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Aaron Levie sold 10,000 shares of the company’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $32.08, for a total transaction of $320,800.00. Following the completion of the transaction, the chief executive officer now directly owns 2,979,780 shares of the company’s stock, valued at $95,591,342.40. This represents a 0.33 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 83,155 shares of company stock valued at $2,688,923. Corporate insiders own 4.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on BOX. StockNews.com cut BOX from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, January 8th. DA Davidson began coverage on BOX in a report on Wednesday, December 18th. They set a “buy” rating and a $45.00 price target for the company. William Blair reissued an “outperform” rating on shares of BOX in a research report on Thursday, November 14th. Royal Bank of Canada restated an “underperform” rating and set a $21.00 target price on shares of BOX in a research note on Wednesday, December 4th. Finally, UBS Group raised their price objective on shares of BOX from $34.00 to $42.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, BOX currently has an average rating of “Moderate Buy” and a consensus target price of $36.60.

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.