Neuberger Berman Group LLC Sells 4,253 Shares of Box, Inc. (NYSE:BOX)

Neuberger Berman Group LLC decreased its position in shares of Box, Inc. (NYSE:BOX) by 0.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 941,527 shares of the software maker’s stock after selling 4,253 shares during the period. Neuberger Berman Group LLC owned about 0.66% of BOX worth $29,762,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in BOX. 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 worth $107,009,000 after acquiring an additional 1,725,197 shares during the last quarter. Norges Bank bought a new position in BOX in the 4th quarter valued at approximately $29,973,000. Jupiter Asset Management Ltd. acquired a new position in shares of BOX during the fourth quarter worth $24,234,000. Fisher Asset Management LLC boosted its stake in shares of 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 purchasing an additional 692,784 shares during the last quarter. Finally, Wells Fargo & Company MN increased its position in shares of BOX by 22.9% during the fourth quarter. Wells Fargo & Company MN now owns 1,633,647 shares of the software maker’s stock worth $51,623,000 after buying an additional 304,755 shares during the period. 86.74% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. 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. DA Davidson reissued a “buy” rating and set a $45.00 target price on shares of BOX in a research note on Wednesday, March 19th. StockNews.com downgraded shares of BOX from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, January 8th. Bank of America started coverage on shares of BOX in a research report on Thursday, December 12th. They set a “buy” rating and a $40.00 price objective on the stock. Finally, Royal Bank of Canada reaffirmed an “underperform” rating and set a $21.00 price target on shares of BOX in a research note on Wednesday, March 19th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, BOX presently has a consensus rating of “Moderate Buy” and an average target price of $37.11.

BOX Trading Down 0.7 %

Shares of BOX stock opened at $30.08 on Friday. The company has a market capitalization of $4.33 billion, a P/E ratio of 37.61, a price-to-earnings-growth ratio of 4.42 and a beta of 0.96. The stock has a fifty day simple moving average of $32.17 and a 200 day simple moving average of $32.43. Box, Inc. has a 12-month low of $24.63 and a 12-month high of $35.74.

BOX declared that its board has authorized a stock buyback 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 buy up to 3.1% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In related news, VP Eli Berkovitch sold 5,651 shares of the business’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $30.66, for a total transaction of $173,259.66. Following the transaction, the vice president now directly owns 124,672 shares in the company, valued at approximately $3,822,443.52. The trade was a 4.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Olivia Nottebohm sold 1,332 shares of the stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $29.01, for a total transaction of $38,641.32. Following the completion of the sale, the chief operating officer now owns 492,545 shares of the company’s stock, valued at approximately $14,288,730.45. This trade represents a 0.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 57,246 shares of company stock valued at $1,862,181 in the last three months. 4.10% of the stock is currently owned by insiders.

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.