Harvest Fund Management Co. Ltd Buys 7,556 Shares of Box, Inc. (NYSE:BOX)

Harvest Fund Management Co. Ltd increased its holdings in shares of Box, Inc. (NYSE:BOX) by 11,111.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,624 shares of the software maker’s stock after purchasing an additional 7,556 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in BOX were worth $241,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. State Street Corp boosted its holdings in BOX by 1.2% during the third quarter. State Street Corp now owns 5,623,032 shares of the software maker’s stock worth $184,042,000 after purchasing an additional 69,107 shares during the last quarter. Geode Capital Management LLC boosted its holdings in BOX by 0.4% during the third quarter. Geode Capital Management LLC now owns 3,249,823 shares of the software maker’s stock worth $106,387,000 after purchasing an additional 13,028 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in BOX by 1.9% during the third quarter. Jacobs Levy Equity Management Inc. now owns 2,425,176 shares of the software maker’s stock worth $79,376,000 after purchasing an additional 44,190 shares during the last quarter. Congress Asset Management Co. boosted its holdings in BOX by 17.5% during the fourth quarter. Congress Asset Management Co. now owns 1,659,646 shares of the software maker’s stock worth $52,445,000 after purchasing an additional 246,993 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in BOX by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,399,629 shares of the software maker’s stock valued at $44,228,000 after acquiring an additional 27,814 shares during the last quarter. Institutional investors and hedge funds own 86.74% of the company’s stock.

BOX Stock Performance

NYSE:BOX opened at $30.35 on Friday. Box, Inc. has a 52 week low of $24.63 and a 52 week high of $35.74. The firm has a market cap of $4.36 billion, a price-to-earnings ratio of 37.93, a P/E/G ratio of 4.42 and a beta of 1.00. The firm’s 50-day simple moving average is $32.73 and its 200 day simple moving average is $32.71.

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

Insider Buying and Selling

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

Analysts Set New Price Targets

A number of analysts have commented on the stock. Raymond James reiterated an “outperform” rating and issued a $38.00 price target (down previously from $40.00) on shares of BOX in a research note on Wednesday, March 5th. Morgan Stanley increased their price target on shares of BOX from $33.00 to $36.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 4th. Bank of America assumed coverage on shares of BOX in a research note on Thursday, December 12th. They issued a “buy” rating and a $40.00 price target for the company. StockNews.com cut shares of BOX from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, January 8th. Finally, UBS Group increased their price target on shares of BOX from $34.00 to $42.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, BOX currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.11.

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.