Schroder Investment Management Group Sells 120,552 Shares of Box, Inc. (NYSE:BOX)

Schroder Investment Management Group lessened its stake in Box, Inc. (NYSE:BOX) by 7.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,471,155 shares of the software maker’s stock after selling 120,552 shares during the quarter. Schroder Investment Management Group owned 1.02% of BOX worth $46,827,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its holdings in 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 worth $44,900,000 after buying an additional 134,175 shares during the last quarter. Beacon Harbor Wealth Advisors Inc. purchased a new position in shares of BOX during the fourth quarter valued at approximately $5,997,000. Townsquare Capital LLC bought a new position in BOX during the third quarter valued at approximately $2,021,000. Robeco Institutional Asset Management B.V. purchased a new stake in BOX in the fourth quarter worth approximately $981,000. Finally, Petrus Trust Company LTA bought a new stake in BOX in the 3rd quarter worth approximately $615,000. Institutional investors own 86.74% of the company’s stock.

Insiders Place Their Bets

In other BOX news, CEO Aaron Levie sold 10,000 shares of the 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 transaction, the chief executive officer now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Olivia Nottebohm sold 2,105 shares of the stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $30.76, for a total value of $64,749.80. Following the transaction, the chief operating officer now directly owns 427,113 shares of the company’s stock, valued at approximately $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. Insiders sold 73,705 shares of company stock worth $2,375,998 in the last three months. 4.10% of the stock is owned by company insiders.

BOX Stock Performance

Shares of BOX stock opened at $30.89 on Tuesday. The stock has a fifty day simple moving average of $32.68 and a two-hundred day simple moving average of $32.63. The firm has a market capitalization of $4.44 billion, a PE ratio of 38.62, a PEG ratio of 4.42 and a beta of 1.00. Box, Inc. has a 52-week low of $24.63 and a 52-week high of $35.74.

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

Analyst Ratings Changes

Several analysts recently commented on BOX shares. JPMorgan Chase & Co. cut their price objective on BOX from $38.00 to $37.00 and set an “overweight” rating for the company in a 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 research note on Wednesday, March 5th. Bank of America began coverage on shares of BOX in a research note on Thursday, December 12th. They issued a “buy” rating and a $40.00 price objective on the stock. 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, DA Davidson reaffirmed a “buy” rating and set a $45.00 target price on shares of BOX in a report on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $37.11.

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.